Morning Juice – Europe Session Prep

Good Morning Traders! This Thursday we get Eurozone Industrial Production.

Here is what to expect for the day.

Sentiment

Fed policymakers reduced their estimates for rate reductions this year, although Chair Powell noted that the revised projections were prudent and left the door open for more.

Australia’s labour market proved to be resilient to rising interest rates last month as job additions outpaced predictions and unemployment declined.

Bond traders increased their bets on interest rate cuts, and despite the Fed’s retraction, their convictions remained unwavering.

Following three days of gains, oil prices somewhat declined as investors considered the surprise increase in US crude stocks and the prospect of tighter US monetary policy going forward.

Docket

05:00 ET
Eurozone Industrial Production YoY
Median Forecast: -2% | Prior -1% | Range -1.3%/-2.5%

05:00 ET
Eurozone Industrial Production MoM
Median Forecast: 0.2%| Prior 0.6% | Range 0.5%/-0.4%

Good Luck today, traders!