Morning Juice – Europe Session Prep

Good Morning Traders.
It is Wednesday the 21st of May. Here is what to expect today.

Sentiment
China’s fiscal stimulus pushed its four-month budget deficit to a record high, as the government ramped up support for the economy during an escalation in its trade conflict with the US Two Federal Reserve officials underscored the US central bank can be patient and assess incoming data before adjusting policy as the economy navigates heightened uncertainty. Japan’s farm minister quit Wednesday after saying he’s never needed to buy rice, a comment that fueled criticism of Prime Minister Ishiba’s minority government and its handling of rising food prices ahead of an election. Oil jumped on a CNN report that new US intelligence suggests Israel is preparing for a potential strike on Iranian nuclear facilities. Growth in Japan’s exports slowed as the US ramped up its tariff measures, highlighting the risks the country faces after its economy already contracted before the levies began hitting in earnest.

Docket
02:00 ET
UK CPI
YoY – Forecast: 3.3%, Prior: 2.6%, Range: 3.6% / 2.9%
MoM – Forecast: 1%, Prior: 0.3%, Range: 1.3% / 0.6%
Core YoY – Forecast: 3.6%, Prior: 3.4%, Range: 3.9% / 3.2%
RPI MoM – Forecast: 1.4%, Prior: 0.3%, Range: 1.7% / 1%

Speakers
04:00 ET
ECB’s Guindos Presents Financial Stability Review

06:00 ET
ECB’s Centeno presents the Portuguese central bank’s annual report and a financial stability report.