Morning Juice – Europe Session Prep

Good Morning Traders
It is Thursday the 15th of May. Here is what to look out for today.

Sentiment
Federal Reserve Bank of San Francisco President Mary Daly said the strength of the US economy allows policymakers to be patient as they wait for more evidence of how the Trump administration’s policies will affect businesses and households Two New York Republicans signaled that the cap on the state and local tax deduction may rise to as much as $80,000 as GOP lawmakers from high-tax states demand a boost in exchange for their votes on President Donald Trump’s tax package. Canada will cut the lowest personal income tax rate to 14% from 15% on July 1, but Prime Minister Mark Carney’s new government won’t release a budget before the summer months. Oil fell for a second day following a report Iran is willing to forgo nuclear weapons in a deal with the US in exchange for sanctions relief.

Docket
02:00 ET
UK GDP
QoQ – Forecast: 0.6%, Prior: 0.1%, Range: 0.8% / 0.3%
YoY – Forecast: 1.2%, Prior: 1.5%, Range: 1.3% / 1%
MoM – Forecast: 0%, Prior: 0.5%, Range: 0.2% / -0.3%
UK Manufacturing Production
YoY – Forecast: -0.5%, Prior: 0.3%, Range: 0.6% / -3.6%
MoM – Forecast: -0.7%, Prior: 2.2%, Range: 0.7% / -1.6%

02:45 ET
French CPI
YoY – Forecast: 0.8%, Prior: 0.8%, Range: 0.8% / 0.8%
MoM – Forecast: 0.5%, Prior: 0.5%, Range: 0.5% / 0.5%
HICP YoY – Forecast: 0.8%, Prior: 0.8%, Range: 0.8% / 0.8%
HICP MoM – Forecast: 0.6%, Prior: 0.6%, Range: 0.6% / 0.6%

05:00 ET
Eurozone GDP
QoQ – Forecast: 0.4%, Prior: 0.4%, Range: 0.4% / 0.3%
YoY – Forecast: 1.2%, Prior: 1.2%, Range: 1.2% / 1.2%

IEA Monthly Report