Morning Juice – Europe Session Prep

Good Morning Traders! This Wednesday we see UK’s Chancellor Hunt presenting the Spring budget.

Here is what to expect for the day.

Sentiment

Jeremy Hunt intends to place personal tax cuts at the centre of his yearly budget on Wednesday as he navigates tight public finances to deliver on Conservative demands for a pre-election giveaway to restore the ailing governing party’s position among voters.

Australia’s economy stagnated in the final three months of last year, as elevated interest rates and rising living costs weighed down family spending.

New Zealand’s central bank may be able to start cutting interest rates sooner than it currently thinks if the US Federal Reserve begins easing later this year, according to chief economist Paul Conway.

Oil prices recovered after falling when a study revealed that US stocks are still expanding, indicating that supply may be outpacing demand.

Docket

05:00 ET
Eurozone Retail Sales YoY
Median Forecast -1.3% | Prior -0.8% | Range 4.5%/-1.5%

Eurozone Retail Sales MoM
Median Forecast 0.2% | Prior -1.1% | Range 0.7%/-0.4%

07:30 ET
UK Spring Budget

Speakers

07:30 ET
UK’s Chancellor Hunt Speaks

 

Good Luck today, Traders!