Morning Juice – Europe Session Prep

Good Morning Traders.
It is Friday the 4th of July. Here is what to look out for today.

Sentiment

President Trump accomplished a significant shift in US domestic policy when the House approved a $3.4 trillion budget plan that reduces taxes and decreases spending on safety-net programs.

Trump stated that his government may begin issuing letters to trading partners as early as Friday, setting unilateral tariff rates ahead of the July 9 deadline for discussions.

Japan’s household expenditure increased the most since the summer of 2022, indicating that consumers may be growing accustomed to chronic inflation and potentially provide support for an economy hammered by US tariffs.

Canada’s finance minister claimed the country can negotiate a better trade deal with the Trump administration than other nations have, rejecting the notion that it will have to accept for a new baseline tax on all exports to the US.

Docket
02:30 ET
German Industrial Orders
MoM – Forecast: -0.2%, Prior: 0.6%, Range: 1.8% / -1.5%