Morning Juice – Europe Session Prep

Good Morning Traders.
It is Wednesday the 16th of July. Here is what to look out for today.

Sentiment
Federal Reserve Bank of Dallas President Lorie Logan said that while policymakers will likely need to hold interest rates steady for a bit longer to fully cool inflation, it’s also possible they may need to pivot to cutting if inflation and labor markets soften. Kevin Hassett, one of President Donald Trump’s longest-serving economic aides, is the early frontrunner to replace Jerome Powell as Federal Reserve chief next year, according to people familiar with the process. President Donald Trump said Scott Bessent was an option to replace Jerome Powell as head of the Federal Reserve but suggested the Treasury secretary was not the leading candidate because of his success in his current role Bank of England Governor Andrew Bailey said US President Donald Trump’s trade war with the rest of the world is the wrong approach to addressing imbalances in the global economy and will harm households.

Docket
02:00 ET
UK CPI
YoY – Forecast: 3.4%, Prior: 3.4%, Range: 3.5% / 3.2%
MoM – Forecast: 0.1%, Prior: 0.2%, Range: 0.3% / 0.0%
Core YoY – Forecast: 3.5%, Prior: 3.5%, Range: 3.6% / 3.3%
RPI – Forecast: 0.3%, Prior: 0.2%, Range: 0.8% / 0.0%

04:00 ET
Italian HICP
YoY – Forecast: 1.7%, Prior: 1.7%, Range: 1.7% / 1.7%
MoM – Forecast: 0.2%, Prior: 0.2%, Range: 0.2% / 0.1%

05:00 ET
Eurozone Trade Balance
Forecast: 14.0b, Prior: 14.0b, Range: 16.0b / 2.0b