Morning Juice – Europe Session Prep

Good Morning  Traders.
It is Monday the 7th of July. Here is what to look out for today.

Sentiment
Saudi Arabia raised prices for its main crude grade for buyers in Asia next month by more than its customers had been expecting, a sign Riyadh is confident the market is strong enough to withstand extra supplies that OPEC+ is adding. Japan’s chief trade negotiator Ryosei Akazawa held two phone meetings with US Commerce Secretary Howard Lutnick to discuss tariffs as a July 9 deadline for higher levies nears. The euro cannot quickly supplant the dollar as the anchor of the world’s financial system as countries using it still have far to go in their financial and economic integration, European Central Bank Governing Council member Makhlouf said.

Docket
02:00 ET
German Industrial Production
YoY – Forecast: -0.3%, Prior: -1.8%, Range: 1.3% / -1.5%
MoM – Forecast: -0.2%, Prior: -1.4%, Range: 2.0% / -1.5%

04:30 ET
Eurozone Sentix Investor Confidence
Forecast: 1, Prior: 0.2, Range: 4 / -0.5

05:00 ET
Eurozone Retail Sales
YoY – Forecast: 1.4%, Prior: 2.3%, Range: 2.7% / 0.9%
MoM – Forecast: -0.6%, Prior: 0.1%, Range: 1.5% / -1.0%

Speakers
04:00 ET
ECB’s Nagel will deliver a public lecture at Eesti Pank.