Morning Juice – Europe Session Prep

Good Morning Traders.
It is Wednesday the 2nd of July. Here is what to look out for today.

Sentiment
Donald Trump’s multitrillion-dollar tax bill is running into Republican resistance in the House as moderate and ultraconservative GOP lawmakers threaten to defy the president and sink his domestic agenda.  President Donald Trump said he is not considering delaying his July 9 deadline for higher tariffs to resume and renewed his threat to cut off talks and impose duty rates on several nations, including Japan. Keir Starmer dramatically abandoned his flagship welfare reforms to avoid a historic defeat, leaving the UK prime minister’s authority badly damaged and his government facing a widening fiscal hole to fill. Australian retail sales rose by less than expected in May, prompting traders to cement expectations for a third interest rate cut as soon as next week.

Docket
04:00 ET
Italian Unemployment Rate
Forecast: 6.0%, Prior: 5.9%, Range: 6.1% / 5.8%

05:00 ET
Eurozone Unemployment Rate
Forecast: 6.2%, Prior: 6.2%, Range: 6.3% / 6.1%

Speakers
04:00 ET
ECB’s de Guindos speaks at Sintra.

05:00 ET
ECB’s Cipollone speaks at Sintra.

06:30 ET
ECB’s Lane and BoE’s Taylor speak at a panel in Sintra.