Morning Juice – Europe Session Prep

Good Morning Traders.
It is Friday the 25th of July. Here is what to look out for today.

Sentiment
The cost of living in Tokyo cooled for a second month on the back of some temporary factors even as food inflation stayed hot, keeping pressure on Prime Minister Shigeru Ishiba after voter frustration over high prices led to his historic election setback Sunday. Donald Trump downplayed his clash with Federal Reserve Chairman Jerome Powell over cost overruns during a tour of the central bank’s renovation project on Thursday, making it clear that he saw the issue of lower interest rates as a more pressing concern. Donald Trump praised Australia’s decision to lift import curbs on US beef amid trade negotiations between the two allies, after the US president had highlighted Canberra’s biosecurity measures as an unfair impediment to trade. South Korea and the US reaffirmed their commitment to pursue a mutually beneficial trade agreement ahead of the Aug. 1 deadline when duties are set to rise, the Asian nation’s industry ministry said.

Docket
02:00 ET
UK Retail Sales
YoY – Forecast: 1.8%, Prior: 1.3%, Range: 2.8% / 1.3%
MoM – Forecast: 1.2%, Prior: -2.7%, Range: 2.5% / 0.0%
Core MoM – Forecast: 1.2%, Prior: -2.8%, Range: 2.5% / 0.7%

04:00 ET
ECB Survey of Forecasters
German IFO
Expectations – Forecast: 91.1, Prior: 90.7, Range: 91.9 / 90.5
Business Climate – Forecast: 89.0, Prior: 88.4, Range: 90.3 / 88.4
Current Conditions – Forecast: 86.7, Prior: 86.2, Range: 88.1 / 86.2