Morning Juice – Europe Session Prep

Good Morning Traders

It’s Tuesday, 1st October. Here’s what to expect for the day.

Sentiment

Fed Chair Powell stated that the central bank will gradually cut interest rates, while emphasising that the overall US economy remains strong.

Confidence among Japan’s large enterprises proved a touch more bullish than predicted, an outcome that keeps the BoJ on track to consider raising interest rates late this year or early next.

Australian retail sales increased more than predicted in August, as tax cuts and nicer weather encouraged households to spend more on dining out, apparel, and footwear, bolstering the case for interest rates to remain on hold for the foreseeable future.

According to a summary of the debate, a meeting of BoJ board members in September underscored the need to improve contacts with financial markets, while some members emphasised the significance of remaining cautious of downside risks.

Oil steadied at the start of the fourth quarter as geopolitical risks in the Middle East, with Israel beginning ground raids inside Lebanon, vied with the prospects of a return of Libyan supply. Israel said it had begun targeted ground raids in southern Lebanon, escalating a campaign to root out Hezbollah despite international appeals for restraint.

Docket

03:50 ET
French Manufacturing PMI
Median Forecast 44% | Prior 44% | Range 44.1/44

03:55 ET
German Manufacturing PMI Final
Median Forecast 40.3 | Prior 40.3 | Range 44.8/40.3

04:00 ET
Eurozone Manufacturing PMI Final
Median Forecast 44.8 | Prior 44.8 | Range 45/44.5

04:30 ET
UK Manufacturing PMI Final
Median Forecast 51.5 | Prior 51.5 | Range 51.6/51.2

Speakers

03:00 ET
ECB’s De Guindos Speaks

03:30 ET
ECB’s Nagel Speaks

04:00 ET
ECB’s Rehn Speaks

Good luck!