Morning Juice – Europe Session Prep

Good Morning Traders! This Tuesday we get Composite and Services PMI for Germany and the UK.

Here is what to expect for the day.

Sentiment

China set its annual growth target at around 5%, raising expectations for the nation’s top leaders to unleash more stimulus as they try to lift confidence in an economy hampered by a property slump and entrenched deflation

Price growth in Tokyo surged back above the Bank of Japan’s target in February, a jump that supports the case for the central bank’s first interest rate hike since 2007

Japan’s auction of 10-year sovereign notes registers shortest so- called tail demand since October in a sign of solid investor appetite as supply and demand conditions are steady

Oil held a decline as signs of macroeconomic weakness – especially in the biggest importer China – eclipsed OPEC+’s widely expected extension of output cuts

Docket

03:55 ET
German Services PMI Final
Median Forecast 48.2 | Prior 48.2 | Range 48.2/48.2

German Composite PMI Final
Median Forecast 46.1 | Prior 46.1 | Range 46.1/46.1

04:30 ET
UK Services PMI Final
Median Forecast 54.3 | Prior 54.3 | Range 54.5/54.2

UK Composite PMI Final
Median Forecast 53.3 | Prior 53.3 | Range 53.5/53.3

 

Good Luck today, Traders!