Morning Juice – Europe Session Prep

Good Morning Traders! This Friday we get Manufacturing PMI data across the Euro-Area, as well as Eurozone CPI.

Here is what to expect for the day.

Sentiment

Bank of Japan Governor Kazuo Ueda stated that the Bank of Japan’s price target is not yet in sight, which may dampen anticipation that the bank’s first rate hike since 2007 may occur as early as March. Japan’s 5-year bond yield climbs to this year’s high amid mounting anticipation that the central bank would abandon the world’s last negative interest rate policy as early as this month.

China’s factory activity dropped for the fifth consecutive month in February, indicating that weak demand remained a barrier to the economy.

Funding costs are falling throughout Chinese markets as Beijing strives to boost consumer and industry expenditure to stave off deflationary forces.

UK retail traffic dropped the most since the pandemic due to train strikes, squeezed budgets, and one of the wettest Februarys on record, increasing fears about the resilience of the economy.

China’s senior leadership has committed to meet economic targets for the year, minimise risks, and maintain social stability, raising concerns about a recovery delayed by a prolonged property crisis and deflation.

Congress approved temporary funds to avert a Saturday partial US government shutdown, and sent the bill to President Joe Biden for signature.

Docket

03:50 ET
French Mfg PMI
Median Forecast 46.8 | Prior 46.8 | Range 46.8/46.7

03:55 ET
German Mfg PMI Final
Median Forecast 42.3 | Prior 42.3 | Range 42.4/42.3

04:00 ET
Eurozone Mfg PMI Final
Median Forecast 46.1 | Prior 46.1 | Range 46.7/46.1

04:30 ET
UK Mfg PMI Final
Median Forecast 47.1 | Prior 47.1 | Range 47.3/47.1

05:00 ET
Eurozone Unemployment Rate
Median Forecast 6.4% | Prior 6.4% | Range 6.5%/6.4%

Eurozone Core CPI YoY Flash
Median Forecast 2.9% | Prior 3.3% | Range 3.1%/2.8%

Eurozone CPI YoY Flash
Median Forecast 2.5% | Prior 2.8% | Range 2.7%/2.4%

Speakers

05:00 ET
ECB’s Holzmann Speaks

 

Good Luck today, Traders!