Morning Juice – Europe Session Prep

Good Morning Traders.
It is Friday the 1st of August. Here is what to look out for today.

Sentiment
The US will impose a 39% tariff on imports from Switzerland, leaving the European country with one of the steepest levies globally as the US president seeks to cut America’s trade deficit and lure manufacturing to its shores. President Donald Trump will keep minimum global tariff rates at 10%, resisting prior suggestions he could raise the floor to 15% or higher, according to a White House statement Thursday Japan will continue to urge the Trump administration to quickly lower tariffs on cars and auto parts to 15% from 27.5% as agreed, says Akazawa, the nation’s point man on trade negotiations with the US. Japan’s Finance Minister said he’s worried by movements in the yen, which weakened to levels last seen in March following dovish messaging on interest rates from the Bank of Japan

Docket
03:50 ET
French Manufacturing PMI
Forecast: 48.4, Prior: 48.4, Range: 48.4 / 48.5

03:55 ET
German Manufacturing PMI
Forecast: 49.2, Prior: 49.2, Range: 49.2 / 49.4

04:00 ET
Eurozone Manufacturing PMI
Forecast: 49.8, Prior: 49.8, Range: 49.8 / 49.9

04:30 ET
UK Manufacturing PMI
Forecast: 48.2, Prior: 48.2, Range: 48.2 / 50.0

05:00 ET
Eurozone CPI
YoY – Forecast: 2.0%, Prior: 1.9%, Range: 1.7% / 2.1%
MoM – Forecast: 0.3%, Prior: -0.1%, Range: -0.3% / 0.2%
Core YoY – Forecast: 2.3%, Prior: 2.3%, Range: 2.2% / 2.3%