Morning Juice – Europe Session Prep
Good morning, Traders!
It is Wednesday, the 4th of December. Here is what to expect for the day.
Sentiment
Australia’s economic growth remained sluggish in the three months to September, as increased government expenditure helped offset weak exports and restricted consumer demand.
President Emmanuel Macron urged French MPs to put aside personal ambitions and oppose a vote that would destabilise the country.
France’s no-confidence vote has encouraged currency options traders to short the Euro against the Yen. Euro-Yen options trading on the Depository Trust & Clearing Corporation has increased recently. Since the beginning of November, there have only been three trading days with a volume greater than $3 billion, two of which occurred in the last week.
South Korean President Yoon Suk Yeol’s surprise decision to impose martial law in South Korea for the first time in more than 40 years—and then just as quickly reverse course—sparked whiplash in the country’s foreign-traded assets and caught global markets off guard, at one point sending US Treasury yields lower as traders sought a haven from potential instability.
Events
03:55 ET
German Services PMI Final
Median Forecast 49.4 | Prior 49.4 | Range 49.6 | 49.2
German Composite PMI Final
Median Forecast 47.3 | Prior 47.3 | Range 48.1 | 47.3
04:30 ET
UK Services PMI Final
Median Forecast 50 | Prior 50 | Range 50.4 | 49.8
UK Composite PMI Final
Median Forecast 49.9 | Prior 49.9 | Range 50 | 49.7
Good luck!
