Morning Juice – Europe Session Prep
Good Morning Traders
It is Thursday the 5th September, here is what to expect for the day.
Sentiment
Real wages for Japanese workers increased for a second month in a row, which keeps the central bank on course for a probable rate hike later this year.
In a cautionary statement to individuals and businesses, Governor Michele Bullock of Australia warned that interest rate reduction is still some distance off and that the central bank would find it difficult to sustain low unemployment if inflation remains above its goal level “indefinitely.”
Because of bets for fast interest rate cuts by the Federal Reserve bolstered by weaker-than-expected labour market statistics, a significant portion of the US Treasury yield curve momentarily became positive.
The Federal Reserve will lower US interest rates, and they will ultimately settle between 3% and 4%, according to Howard Marks of Oaktree Capital Management LP.
As an industry data indicated a significant reduction in US crude stockpiles, oil continued to hover around its lowest finish since June 2023. The market was taking a break after a steep selloff this week.
Docket
02:00 ET
German Industrial Orders MoM
Median Forecast -1.7% | Prior 3.9% | Range 0.6%/-3.5%
Speakers
05:00 ET
RBA’s Bullock Speaks
Good luck!
