Morning Juice – Europe Session Prep
Good Morning Traders! This Thursday we get German Industrial Orders, Swiss CPI and ECB Minutes.
Here is what to expect for the day.
Sentiment
At their most recent policy meeting, Federal Reserve officials stated they were expecting more proof that inflation is declining and were split on the length of time to maintain high interest rates.
In anticipation of a historic victory for Keir Starmer in the UK general election, voters turned out to the polls on the final day of the campaign. Rupert Murdoch’s Sun newspaper even endorsed the opposition Labour Party over Rishi Sunak’s Conservatives.
Following a crisis meeting at the White House, prominent Democratic governors provided some of the strongest words of support yet for President Joe Biden and his run for reelection, offering some respite after a painful few days.
As US crude inventories plummeted and output was threatened by Hurricane Beryl, oil prices hovered around a two-month high.
A recent spike in yen interest-rate swaps indicates that, despite the currency’s decline, more people are betting that the Bank of Japan will raise its policy rate this month.
Leader of the far-right Marine Le Pen took aim at a left-wing coalition and President Emmanuel Macron’s centrist group for working together to prevent her National Rally party from winning an outright majority in the second and final round of the French legislative election.
Money-market fund assets reached a new high as investors anticipated that short-term rates would stay high and that Federal Reserve officials are not in a rush to loosen monetary policy.
Docket
02:00 ET
German Industrial Orders MoM
Median Forecast 0.5% | Prior -0.2% | Range 2.4%/-1.8%
02:30 ET
Swiss CPI YoY
Median Forecast 1.4% | Prior 1.4% | Range 1.5%/1.3%
Swiss Core CPI YoY
Median Forecast 1.3% | Prior 1.2% | Range 1.3%/1.2%
Swiss CPI MoM
Median Forecast 0.1% | Prior 0.3% | Range 0.1% /0.0%
07:30 ET
ECB Meeting Minutes
Good Luck today, traders!
