Morning Juice – Europe Session Prep

Good Morning Traders
It is Tuesday the 20th August, here is what to expect for the day.

Sentiment

Chinese banks maintained unchanged benchmark lending rates in August due to profit margin pressures and policymakers’ concern for financial institutions’ health.

Increasing risks to Europe’s growth forecast have strengthened the case for a policy adjustment when the European Central Bank meets next month, according to Governing Council member Olli Rehn.

Australia’s central bank will most likely need to keep interest rates at their current 12-year high for a “extended period” to ensure that inflation returns to its target band next year, sending a clear signal that policy easing is still some way off.

US Secretary of State Antony Blinken stated that Israeli Prime Minister Benjamin Netanyahu has accepted a cease-fire bridging proposal to end the war in Gaza, and that the next step is for “Hamas to say yes,” putting the onus on the group to end the 10-month conflict even as gunfire continued.

Oil stabilised following the worst decline in two weeks as the US said Israel accepted a cease-fire proposal in Gaza, potentially alleviating supply threats as concerns about the global demand picture grow.

Docket

05:00 ET
Eurozone CPI YoY Final
Median Forecast 2.6% | Prior 2.6% | Range 2.6%/2.6%

Eurozone CPI MoM Final
Median Forecast 0.0% | Prior 0.2% | Range 0.2%/0.0%

Good luck!