Morning Juice – Europe Session Prep

Good Morning Traders.
It is Friday the 11th of July. Here is what to look out for today.

Sentiment

Trump intends to raise Canada’s 25% tariff rate to 35% on August 1st while maintaining a USMCA exception, according to a US official who spoke on condition of anonymity. The declaration comes as Trump told NBC News on Thursday that he intends to impose blanket tariffs of 15% to 20% on most trading partners, noting that the exact levels are still being determined. The current worldwide minimum tariff rate for almost all US trading partners is 10%.

US Secretary of State Rubio will meet with his Chinese counterpart at a summit in Malaysia on Friday, the first in-person meeting between the two and potentially a precursor to a presidential summit.

Docket
02:00 ET
UK GDP Estimate
MoM – Forecast: 0.1%, Prior: -0.3%, Range: 0.3% / -0.2%
3M/3M – Forecast 0.4%, Prior 0.7%, Range: 0.7% / 0.3%
YoY – Prior: 0.9%

UK Manufacturing Production
MoM – Forecast: -0.1%, Prior: -0.9%, Range: 0.8% / -1.1%
3M/3M – Forecast 0.3%, Prior 0.4%, Range: 1.1% / -0.8%

02:45 ET
French CPI NSA
YoY – Forecast: 0.9%, Prior: 0.9%, Range: 0.9% / 0.8%
MoM – Forecast 0.3%, Prior 0.3%, Range: 0.3% / 0.2%

French HICP Final
YoY – Forecast 0.8%, Prior 0.8%, Range: 0.9% / 0.8%
MoM – Forecast 0.4%, Prior 0.4%, Range: 0.4% / 0.2%