Morning Juice – Europe Session Prep
Good morning, Traders!
It is Tuesday, the 3rd of November. Here is what to expect for the day.
Sentiment
The Yuan plummeted to its lowest level in over a year against the Dollar, as speculators increased negative bets on slowing Chinese GDP amid rising US tariffs.
PM Michel Bamier has told parliamentarians that France has reached its “moment of truth,” as far-right leader Marine Le Pen is expected to join a left-wing coalition to depose his administration as early as this week.
Three Fed members said on Monday that they expect the US central bank to continue lowering interest rates over the next year, but they did not commit to making the next cut later this month.
BoJ’s Ueda has adequate data to back up his case for raising the benchmark rate in December, marking the first time policy has been tightened three times in a calendar year since 1989, when Japan’s asset bubble was at its peak.
Developing-nation currencies fell on Monday as traders reduced their risk exposure in response to Trump’s vow to put tariffs on the so-called BRICS bloc if it creates an alternative to the Dollar.
Events
02:30 ET
Swiss CPI YoY
Median Forecast 0.7% | Prior 0.6% | Range 0.9% | -0.2%
Swiss CPI MoM
Median Forecast -0.1% | Prior -0.1% | Range 0.7% | -0.3%
Swiss Core CPI YoY
Median Forecast 0.9% | Prior 0.8% | Range 0.9% | 0.8%
Good luck!
