Morning Juice – Europe Session Prep

Good Morning Traders.
It is Thursday the 20th of March. Here is what to look out for today.

Sentiment
Federal Reserve Chair Jerome Powell downplayed growth concerns and the impact of President Donald Trump’s trade war on inflation, calling the inflationary effect “transitory.” The Federal Reserve will start shrinking its balance sheet at a slower pace starting next month, reducing the amount of bond holdings it lets roll off every month. President Donald Trump said the Federal Reserve should cut interest rates, splitting with the US central bank as officials weigh the economic cost of his tariff push. Ukrainian President Volodymyr Zelenskiy agreed to a proposal for a mutual halt to strikes on energy assets as an initial step in President Donald Trump’s effort to end the war that began with Russia’s full-scale invasion three years ago.

Docket
03:00 ET
UK Employment Change
SA – Median Forecast: -21K | Prior: 21K | Range: -14K / -28K
3M/3M – Median Forecast: 91K | Prior: 107K | Range: 125K / 53K
UK Unemployment
Rate – Median Forecast: 4.4% | Prior: 4.4% | Range: 4.5% / 4.4%
Change – Prior: 22K
UK Average Weekly Earnings
YoY – Median Forecast: 5.8% | Prior: 6% | Range: 6% / 5.7%
Ex Bonus – Median Forecast: 5.9% | Prior: 5.9% | Range: 6% / 5.5%

German PPI
YoY – Median Forecast: 1% | Prior: 0.5% | Range: 1.3% / 0.7%
MoM – Median Forecast: 0.2% | Prior: -0.1% | Range: 0.5% / -0.2%

04:30 ET
Interest Rates
SNB – Median Forecast: 0.25% | Prior: 0.5% | Range: 0.5% / 0.25%
Riksbank – Median Forecast: 2.25% | Prior: 2.25% | Range: 2.25% / 2%
SNB Rate Statement

05:00 ET
SNB Press Conference

07:00 ET
UK CBI Orders
Median Forecast: -30 | Prior: -28 | Range: -23 / -33

08:00 ET
BoE Bank Rate
Median Forecast: 4.5% | Prior: 4.5% | Range: 4.5% / 4.25%
BoE Rate Statement

08:30 ET
BoE Press Conference

Speakers
04:00 ET
ECB’s President Lagarde gives introductory statement at ECON Hearing before the Committee on Economic and Monetary Affairs of the European Parliament in Brussels, Belgium.

07:00 ET
ECB’s Ceteno presents central bank’s March economic bulletin, with updated forecasts, in Lisbon.
ECB’s Muller speaks at Nordic Real Estate Forum 2025

08:00 ET
ECB’s Lane gives lecture at UCC Economics Society’s Conference at University College Cork in Cork lreland.