Morning Juice – Europe Session Prep

Good Morning Traders.
It is Friday the 23rd of May. Here is what to look out for today.

Sentiment
Japan’s key inflation gauge accelerated to the fastest clip in more than two years, with soaring rice prices exacerbating Prime Minister Ishiba’s troubles after a cabinet shakeup over controversial comments by his agricultural chief on the nation’s staple food. Bank of Japan Governor Ueda refrained from indicating he’s prepared to take action in the bond market after yields on super-long dated securities hit a record high, amid a continuing effort to improve trading conditions. On May 22, the US House of Representatives passed a multi- trillion dollar bill that implements President Donald Trump’s domestic agenda. The legislation would extends the tax cuts implemented in Trump’s first term, which were set to expire, and allocate billions of dollars to defense, immigration enforcement, and other administration priorities. The measure now moves to the Senate, which is expected to make significant changes.

Docket
02:00 ET
UK Retail Sales
YoY – Forecast: 2.6%, Prior: 4.5%, Range: 5.0% / 2.7%
MoM – Forecast: 0.4%, Prior: 0.3%, Range: 1.4% / -0.8%
Core YoY – Forecast: 3.3%, Prior: 4.4%, Range: 5.2% / 3.2%
Core MoM – Forecast: 0.5%, Prior: 0.1%, Range: 1.0% / -0.9%

German GDP
QoQ – Forecast: 0.2%, Prior: 0.2%, Range: 0.3% / 0.2%
YoY SA – Forecast: -0.2%, Prior: -0.2%, Range: -0.2% / -0.2%
YoY NSA – Forecast: -0.4%, Prior: -0.4%, Range: -0.4% / -0.4%