Morning Juice – Europe Session Prep
Good morning, Traders.
It is Friday, the 8th of November, here is what to expect for the day.
Sentiment
China’s bond markets are monitoring a critical parliamentary meeting this week, where lawmakers are likely to adopt a budget package worth trillions of Yuan.
Fed Chair Powell has made it plain that he is ready to defend the US central bank against political pressure following Trump’s re-election, stating he would not resign if requested and stressing the incoming president does not have the right to remove him or other top Fed leaders.
Japan said it entered the foreign exchange market twice last quarter, with speculation growing that further moves may be brewing given the recent round of sustained Yen weakening.
Bond speculators expecting Powell to restart a bond boom were disappointed on Thursday as the Fed dropped interest rates as predicted but gave nothing away about the path forward.
Events
04:00 ET
ECB’s Vujcic & Panetta Speak
Italian Industrial Production MoM
Median Forecast -0.5% | Prior 0.1% |
07:15 ET
BoE’s Pill Speaks
Good luck!
