Morning Juice – Europe Session Prep

Good Morning Traders! This Friday we get UK Retail Sales data and German IFO numbers.

Here is what to expect for the day.

Sentiment

The Bank of Japan will increase interest rates again by October, and there is a danger that the pace of hikes would be faster with yen weakening as a factor, according to a survey of economists following the central bank’s unprecedented move to terminate its huge easing programme this week.

Governor Kazuo Ueda says the Bank of Japan’s core approach is to allow market participants determine long-term bond yields. Ueda wants to examine the impact of recent policy adjustments on financial markets, he says in response to parliamentary questioning.

UK consumers are at their highest optimistic about their personal finances since 2021, indicating that household budgets remain sturdy following the economy’s short setback last year.

China’s President Xi Jinping planned to meet with a number of US business leaders next week in conjunction with an annual summit in Beijing, according to the Wall Street Journal.

Oil prices fell due to a stronger US currency, despite expectations that the Federal Reserve will continue to slash interest rates this year.

Docket

03:00 ET
UK Retail Sales YoY
Median Forecast -0.8% | Prior 0.7% | Range 0.7%/-2.6%

UK Retail Sales MoM
Median Forecast -0.4% | Prior 3.4% | Range 0.5%/-1.9%

UK Core Retail Sales MoM
Median Forecast -0.1% | Prior 3.2% | Range 0.7%/-1.8%

05:00 ET
German IFO Expectations
Median Forecast: 84.7 | Prior 84.1 | Range 86.0/83.7

German IFO Current Conditions
Median Forecast 86.8 | Prior 86.9 | Range 87.7/86.2

German IFO Business Climate
Median Forecast 53.8 | Prior 53.8 | Range 86.5/84.9

Speakers

05:00 ET
ECB’s Nagel Speaks

06:00 ET
ECB Holzmann Speaks

Good Luck today, Traders!