Morning Juice – Europe Session Prep

Good Morning Traders
It is Friday, the 26th July. Here is what to expect for today:

Sentiment

Investors have rushed to buy the yen in recent weeks, betting that interest rates are finally poised to shift in Japan’s favour. They will confront a defining moment on Wednesday.

Inflation in Tokyo increased for the third month in July, leaving the door open for a likely interest rate hike when the central bank’s policy board meets next week.7

The Group of 20 finance leaders will leave Brazil’s controversial concept for a worldwide billionaires tax to future summits, agreeing in a draft communique to continue discussions after debating the idea this week in Rio de Janeiro.

Chancellor of the Exchequer Rachel Reeves has stated that she inherited a “mess” in Britain’s public finances from the previous Conservative administration, her latest warning about the country’s economic predicament, which implies a tax-raising Budget in the autumn.

Docket

04:00 ET
ECB 1-Yr CPI Expectations
Prior 2.8%

ECB 3-Yr CPI Expectations
Prior 2.3%

Earnings

06:30 ET
MMM Q2 2024 Earnings
Est. EPS $1.69 | Est. Rev. $5.84B

Good luck!