Morning Juice – Europe Session Prep

Good Morning Traders.
It is Thursday the 11th of July. Here is what to look out for today.

Sentiment

On Wednesday, President Joe Biden encountered increasing resistance from members of his own party as a Senate Democrat joined an increasing number of House Democrats in demanding that he resign.

In an attempt to shore up the country’s collapsing stock market ahead of a much-anticipated economic policy meeting, China initiated some of its most drastic measures to date to prohibit short selling and quantitative trading tactics.

The potential financial hole of up to £30 billion ($39 billion) presents Chancellor of the Exchequer Rachel Reeves with a challenge in helping the UK’s incoming administration address the nation’s failing public services.

For a second day, oil prices rose as indications of rising demand and a risk-on attitude in larger markets helped to boost confidence.

Docket
02:00 ET
UK Manufacturing Production MoM
Median Forecast: 0.4% | Prior: -1.4% | Range: 1.5% / -0.3%

UK GDP Estimate 3M/3M
Median Forecast: 0.7% | Prior: 0.7% | Range: 0.8% / 0.5%

UK GDP Estimate MoM
Median Forecast: 0.2% | Prior: 0% | Range: 0.5% / -0.2%

German CPI Final YoY
Median Forecast: 2.2% | Prior: 2.2% | Range: 2.2% / 2.2%

German HICP Final YoY
Median Forecast: 2.5% | Prior: 2.5% | Range: 2.5% / 2.5%