Morning Juice – Europe Session Prep

Good Morning Traders.
It is Thursday the 5th of June. Here is what to look out for today.

Sentiment
Demand at Japan’s 30-year bond auction was weaker than the average over the past year, adding to concerns over rising yields globally and ramping up pressure on the government to adjust issuance. The bid-to-cover ratio at the sale was 2.92, compared with a 12-month average of 3.39. The ratio for the previous auction was 3.07. China’s services activity expanded at a faster pace in May, a private survey showed, in a sign the consumer economy is stabilizing while higher US tariffs threaten demand for exports. Growth in Japanese workers’ base pay picked up as annual wage hikes began to kick in, in a positive development for the Bank of Japan as authorities look for an opportunity to raise interest rates even as domestic and global economic risks mount. Federal Reserve Bank of Minneapolis President Kashkari said the US central bank is well positioned to wait and see how tariff policies impact the economy before adjusting interest rates. Federal Reserve Governor Michelle Bowman was confirmed by the US Senate on Wednesday to serve as the central bank’s vice chair for supervision, further signaling a shift to lighter regulation under President Donald Trump.

Docket
02:00 ET
German Industrial Orders MoM
Forecast: 3.6%, Prior: -1.5%, Range: 1.0% / -4.0%

04:30 ET
UK Construction PMI
Forecast: 46.6, Prior: 47.3, Range: 48.0 / 47.0

05:00 ET
Eurozone PPI
YoY – Forecast: 1.9%, Prior: 1.1%, Range: 2.8% / -0.3%

MoM – Forecast: 1.6%, Prior: -2.1%, Range: -1.7% / -2.2%

08:15 ET
ECB Interest Rate Decision