Morning Juice – Europe Session Prep

Good Morning Traders.
It is Thursday the 3rd of July. Here is what to look out for today.

Sentiment
UK Prime Minister Keir Starmer said Rachel Reeves will stay on as Chancellor of the Exchequer, as he sought to draw a line under speculation about her future that sparked a bond selloff. Conservative hardliners’ resistance to Donald Trump’s massive tax and spending package began to soften late Wednesday as the president and his allies worked to win them over An auction of 30-year government notes in Japan drew a demand ratio that was higher than its 12-month average of 3.33. The bid- to-cover ratio was 3.58 vs 2.92 at the previous auction in June. The Bank of Japan is at a stage where it can pause on rate hikes, while it should resume the cycle after a certain period, board member Hajime Takata said Thursday. President Donald Trump said he had reached a trade deal with Vietnam following weeks of intense diplomacy between the nations and ahead of a deadline next week that would have seen higher tariffs imposed on the country’s imports. The Trump administration has lifted at least some export license requirements for chip design software sales in China, as Washington and Beijing implement a trade deal designed to see both countries ease flows of critical technologies

Docket
02:30 ET
Swiss CPI
YoY – Forecast: -0.1%, Prior: -0.1%, Range: 0.1% / -0.2%
MoM – Forecast: 0.0%, Prior: 0.1%, Range: 0.2% / -0.1%
Core YoY – Forecast: 0.6%, Prior: 0.5%, Range: 0.7% / 0.4%

03:45 ET
Italian PMI’s
Services – Forecast: 52.5, Prior: 53.2, Range: 53.6 / 52.0
Composite – Forecast: 51.6, Prior: 52.5, Range: 52.5 / 51.0

03:50 ET
French PMI’s
Services – Forecast: 48.7, Prior: 48.7, Range: 49.0 / 48.7
Composite – Forecast: 48.5, Prior: 48.5, Range: 48.7 / 48.5

03:55 ET
German PMI’s
Services – Forecast: 49.4, Prior: 49.4, Range: 49.6 / 49.4
Composite – Forecast: 50.4, Prior: 50.4, Range: 50.4 / 50.4

04:00 ET
Eurozone PMI’s
Services – Forecast: 50.0, Prior: 50.0, Range: 50.2 / 50.0
Composite – Forecast: 50.2, Prior: 50.2, Range: 50.2 / 50.2

04:30 ET
UK PMI’s
Services – Forecast: 51.3, Prior: 51.3, Range: 51.6 / 51.2
Composite – Forecast: 50.7, Prior: 50.7, Range: 51.0 / 50.6