Morning Juice – Europe Session Prep

Good morning, traders!

Sentiment

Federal Reserve Chair Jerome Powell said second-quarter economic data has provided policymakers with increasing confidence that inflation is coming down to the central bank’s 2% target, perhaps clearing the way for near-term interest-rate reduction.

According to Mary Daly, President of the Federal Reserve Bank of San Francisco, inflation is decreasing in a way that gives her confidence that it will reach 2%.

UK economists are sceptical about the potential of Keir Starmer’s Labour government to turbo-charge economy, believing that the lacklustre expansion that has plagued much of the previous decade would continue, according to a survey.

According to a Federal Reserve Bank of San Francisco report, the weakening of the US labour market that began last year is expected to continue amid a continued tide of unauthorised immigrants.

Docket
05:00 ET
German ZEW Economic Sentiment
Forecast 41 | Previous 47.5 | Range 48.0 | 35.0

German ZEW Current Conditions
Forecast -74.8 | Previous -73.8 | Range -70.0 | -80.0

US Earnings
05:55 ET
United Health Q2 24 EPS est. $6.59| Rev. Est. $98.95 bln

06:45 ET
Bank of America Q2 24 EPS est. $0.79 | Rev. Est $25.32 bln

07:30 ET
Bank of America Q2 24 EPS est. $1.65 | Rev. Est $14.27 bln

Good Luck Traders!