Morning Juice – Europe Session Prep

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

Here is what to expect for the day.

Sentiment

Japan’s inflation eased for the second month while remaining over the Bank of Japan’s price goal, as the yen’s recent devaluation spurs fears that cost-push inflationary pressures may be here to stay.

Raphael Bostic, President of the Federal Reserve Bank of Atlanta, stated that monetary policy has been less effective in restraining growth than in prior cycles, emphasising the need to keep interest rates higher for longer to combat inflation.

China’s efforts to boost economic development by decreasing the attractiveness of bank deposits have resulted in a historic outflow of cash, with a large amount of it flowing into bonds and wealth management products.

Oil fell around its lowest level in over three months as the market showed symptoms of weakness ahead of the US summer driving season.

Docket

02:00 ET
UK Retail Sales YoY
Median Forecast -0.3% | Prior 0.8% | Range 0.5%/-1.1%

UK Retail Sales MoM
Median Forecast -0.5% | Prior 0.0% | Range 0.5%/-1.3%

UK Core Retail Sales MoM
Median Forecast -0.8% | Prior -0.3% | Range 0.4%/-1.5%

German GDP Final YoY NSA
Median Forecast -0.9% | Prior -0.9% | Range -0.9%/-0.9%

German GDP Final QoQ
Median Forecast 0.2% | Prior 0.2% | Range 0.2%/-0.1%

Good Luck today, traders!