Morning Juice – Europe Session Prep
Good morning, Traders.
It is Wednesday, the 13th of November. Here is what to expect for the day.
Sentiment
The pace of growth in Japan’s business goods prices quickened to the strongest rate in 14 months, supporting the BoJ’s goal of normalising policy as investors sift through signs on whether the bank could hike its benchmark rate next month.
Australia’s wage growth slowed in the third quarter, indicating a reduction in pricing pressures across the economy and boosting expectations that the next interest rate hike will be smaller.
China expressed concern about the Yuan’s depreciation through its daily currency reference rate, citing the potential of greater US tariffs under a Donald Trump presidency. The PBOC set the Yuan’s reference rate at 7.1991 per Dollar, which is 445 pips higher than the average survey estimate. The difference between the fixed and estimate was the largest since early August.
Oil prices remained near their lowest level this month, with the outlook for demand in focus after OPEC lowered projections on China’s downturn.
Events
04:45 ET
BoE’s Mann Speaks
Good luck!
