Morning Juice – Europe Session Prep

Good Morning Traders! This Wednesday we get UK CPI numbers.

Here is what to expect for the day.

Sentiment

Two Federal Reserve members maintained a higher-for-longer stance on interest rates, emphasising the need for patience while the central bank waits for additional evidence that inflation is heading lower.

Oil continued its losses as an industry report indicated to rising US oil stocks, adding to gloomy indicators for the market.

Japan’s imports rose in April as the weak yen increased their value, driving the country’s trade balance into deficit and showing the growing economic burden caused by the currency’s decline.

Bank of England Governor Andrew Bailey stated that markets should brace for a significant rise in securities buyback operations as the UK central bank decreases the reserves it built up during the financial crisis and epidemic.

Docket

02:00 ET
UK CPI MoM
Median Forecast 0.1% | Prior 0.6% | Range 0.3%/-0.4%

UK CPI YoY
Median Forecast 2.1% | Prior 3.2% | Range 2.3%/1.5%

UK Core CPI YoY
Median Forecast 3.6% | Prior 4.2% | Range 3.9%/3,2%

Good Luck today, traders!