Morning Juice – Europe Session Prep

Good Morning Traders.
It is Friday the 16th of May. Here is what to look out for today.

Sentiment
Japan’s economy shrank for the first time in a year, illustrating its vulnerability even before sustaining the impact of US President Donald Trump’s tariff measures. Japanese Finance Minister Katsunobu Kato says he will seek an opportunity for talks with Scott Bessent next week, including on currency views he had previously discussed with the US treasury secretary. Republican infighting in the US House is threatening to sink. Treasuries gained as a fresh spate of economic data offered signs of ebbing economic activity and dimming inflation, supporting bets that the Federal Reserve will cut interest rates twice this year. The Organization of the Petroleum Exporting Countries and its allies are expected to maintain oil production increases in July to discipline nations exceeding their production quotas and show support for President Donald Trump’s appeals for lower oil prices, according to Macquarie.

Docket
04:00 ET
Italian HICP
YoY – Forecast: 2.1%, Prior: 2.1%, Range: 2.1% / 2.1%
MoM – Forecast: 0.5%, Prior: 0.5%, Range: 0.5% / 0.5%