Morning Juice – Europe Session Prep

Good Morning Traders
It is Tuesday the 6th of May. Here is what to look out for today.

Sentiment
China’s services activity deteriorated more than expected in April, a private survey showed, the latest setback for an economy already under pressure from US tariffs. Treasury Secretary Scott Bessent touted the US as die “premier destination” for global capital and argued that the Trump administration’s policies will solidify that position – countering the so-called sell America theme that materialized last month. Australia’s sovereign wealth fund is preparing for higher inflation and bond yields for “an extended period” as global uncertainty upends markets and trade tensions simmer. The head of the nonpartisan Congressional Budget Office said the US Treasury Department can likely keep paying the government’s bills until late summer before Congress must act to raise or suspend the debt ceiling.

Docket
03:50 ET
French PMI
Services – Forecast 46.8 | Prior: 46.8 | Range: 47 / 46.8
Composite – Forecast 47.,3 | Prior: 47.3 | Range: 47.5 / 47.3

03:55 ET
German PMI
Services – Forecast 48.8 | Prior: 48.8 | Range: 49 / 48.8
Composite – Forecast 49.7 | Prior: 49.7 | Range: 49.9 / 49.7

04:00 ET
Eurozone PMI
Services – Forecast 49.7 | Prior: 49.7 | Range: 50 / 49.7
Composite – Forecast 50.1 | Prior: 50.1 | Range: 50.2 / 50.1

04:30 ET
UK PMI
Services – Forecast 48.9 | Prior: 48.9 | Range: 49.5 / 48.9
Composite – Forecast 48.2 | Prior: 48.2 | Range: 48.8 / 48.2

05:00 ET
Eurozone PPI
YoY – Forecast 2.5% | Prior: 3% | Range: 3.5% / 1.9%
MoM – Forecast -1.4% | Prior: 0.2% | Range: -0.4% / -1.7%

Speakers
03:00 ET
ECB’s Panetta and BoK’s Rhee speak at Asia Development Bank annual meeting in Milan. Panel on Cross-Border Payment Rails – From Infrastructure Roll-Out to a Smooth Customer Journey”.