Morning Juice – Europe Session Prep

Good Morning Traders.
It is Wednesday the 18th of June. Here is what to look out for today.

Sentiment
Japan’s exports fell for the first time in eight months as the US tariff campaign weighed on global trade, raising the risk of a technical recession after the economy contracted at the start of the year. Japan will prioritize protecting its national interests in trade talks without rushing into a deal with the US, Japanese Prime Minister Shigeru Ishiba said as he wrapped up two days of meetings at the Group of Seven gathering. Oil steadied, after jumping to the highest in almost five months on Tuesday, as speculation the US may join Israel’s attack on Iran stoked concerns about supply disruptions in the Middle East. The House-passed  version of Republicans’ tax and spending bill would add $2.8 trillion to US deficits over the next decade, according to new estimates from the Congressional Budget Office that incorporate the broader impact the legislation would have on the economy and federal budget. China is testing the limits of what its consumer stimulus can accomplish by subsidizing purchases of select goods, fueling a shopping spree that boosted retail sales growth to the strongest in more than a year but threatening to overwhelm authorities even in the richest regions

Docket
02:00 ET
UK CPI
YoY – Forecast: 3.3%, Prior: 3.5%, Range: 3.6% / 3.1%
MoM – Forecast: 0.2%, Prior: 1.2%, Range: 0.4% / 0.0%
Core YoY – Forecast: 3.7%, Prior: 3.8%, Range: 3.4% / 3.5%
RPI – Forecast: 0.2%, Prior: 1.7%, Range: 0.8% / -0.1%

03:30 ET
Swedish Riksbank Rate

05:00 ET
Eurozone CPI
YoY  – Forecast: 1.9%, Prior: 1.9%, Range: 1.9% / 1.9%
MoM – Forecast: 0.0%, Prior: 0.0%, Range: 0.3% / 0.0%
Core YoY – Forecast: 2.3%, Prior: 2.3%, Range: 2.4% / 1.8%

Speakers
03:30 ET
ECB’s Elderson gives keynote speech at SRB Legal Conference 2025 ‘Banking Crises – law, policy and practice: European and globalperspectives’ in Brussels, Belgium

04:30 ET
ECB’s Panetta speaks in Milan.

04:45 ET
ECB’s Escriva speaks on the role of central banks in Milan.

05:30 ET
ECB’s Villeroy speaks on Europe in Milan.

06:15 ET
ECB’s Knot speaks on “the challenges of this century, the rules of international trade and globalisation today at Young Factory Event in Milan.