Morning Juice – Europe Session Prep
Good Morning Traders! This Wednesday we get French HICP and Eurozone GDP.
Here is what to expect for the day.
Sentiment
According to Jeffrey Schmid, President of the Federal Reserve Bank of Kansas City, interest rates may remain high “for some time” while policymakers wait for indications that pricing pressures are lessening.
China is mulling a plan to have local governments around the nation buy millions of unsold homes, individuals familiar with the subject said. This would be one of its most ambitious measures yet to save the troubled property market.
Australian wage growth dropped for the first time since the depths of the epidemic in the first three months of the year, in a positive outcome for the Reserve Bank, which remains vigilant about pricing pressures in the economy.
Oil climbed after an industry survey showed declining US stocks, and traders looked ahead to a data from the International Energy Agency that may offer insight on market balances in the second half.
Japan’s government bond rates are expected to soar to the highest in more than a decade, according to the chairman of Nomura trading business, making the $7 trillion market “more interesting” and spurring rivalry among hedge funds wanting to employ traders.
Docket
02:45 ET
French HICP YoY Final
Median Forecast 2.4% | Prior 2.4% | Range 2.4%/2.4%
05:00 ET
Eurozone GDP YoY Flash Estimate
Median Forecast 0.4% | Prior 0.4% | Range 0.4%/-1.0%
Eurozone GDP QoQ Flash Estimate
Median Forecast 0.3%| Prior 0.3% | Range 0.4%/0.3%
Speakers
04:00 ET
ECB’s Muller Speaks
ECB’s Rehn Speaks
05:00 ET
ECB’s Villeroy Speaks
06:20 ET
ECB’s Makhlouf Speaks
Good Luck today, Traders!
