Morning Juice – Europe Session Prep

Good Morning Traders! This Wednesday we get German IFO numbers as well as further earnings.

Here is what to expect for the day.

Sentiment

Australia’s inflation rate rose faster than predicted in the first three months of 2024, indicating that price pressures are proving tenacious and supporting the Reserve Bank’s decision to keep interest rates at a 12-year high next month.

Oil prices rose as an industry data indicated declining US oil stocks and traders followed progress towards new sanctions on Iran.

Japan is on the verge of currency intervention if the yen falls any lower, according to one of the country’s former top currency authorities.

Gold’s record-breaking surge this year has perplexed market observers, as the metal has soared higher despite headwinds that should have held it back. Prices have fallen this week, and the reason might be in China.

Docket

04:00 ET 
German IFO Expectations
Median Forecast 88.9 | Prior 87.5 | Range 91.0/87.9

German IFO Current Conditions
Median Forecast 88.7 | Prior 88.1 | Range 90.5/88.0

German IFO Business Climate
Median Forecast 88.8 | Prior 87.8 | Range 90.8/88.2

Good Luck today, Traders!