Morning Juice – Europe Session Prep

Good Morning Traders! This Friday we get UK GDP.

Here is what to expect for the day.

Sentiment

President Joe Biden’s administration is scheduled to reveal a wide decision on China tariffs as soon as next week, targeting key vital industries with additional duties but rejecting the type of across-the-board rises demanded by Donald Trump, according to sources familiar with the situation.

Japan’s offer of 30-year national bonds recorded a lower-than-expected cut-off price, indicating weak investor enthusiasm as suspicion remains that the central bank would deliver further interest-rate rises.

Japan’s households trimmed spending once again as sticky inflation weighed on morale and government subsidies controlled utility prices, with authorities expecting for historic pay gains to be a spark for a rebound in the coming months.

The Bank of Canada thinks people can withstand increased borrowing prices, but cited growing asset values and financial hardship among renters as threats to the outlook.

New data from the Federal Reserve’s multiple accounts hints at how Japanese policymakers may have further supported currency interventions to boost the battered yen.

Docket

02:00 ET
UK GDP YoY Prelim
Median Forecast: 0% | Prior -0.2% | Range 0.0%/-0.3%

UK GDP QoQ Prelim
Median Forecast: 0.4% | Prior -0.3% | Range 0.4%/0.1%

UK GDP Estimate YoY
Median Forecast: 0.3% | Prior -0.2%

UK GDP Estimate MoM
Median Forecast: 0.1% | Prior 0.1% | Range 0.2%/-0.2%

UK GDP Estimate 3M/3M
Median Forecast: 0.4% | Prior 0.2% | Range 0.4%/0.3%

UK Manufacturing Production MoM
Median Forecast: 1.2% | Prior -0.5% | Range 0.5%/-0.8%

Good Luck today, Traders!