Morning Juice – Europe Session Prep
Good Morning Traders.
It is Tuesday the 5th of August. Here is what to look out for today.
Sentiment
President Donald Trump’s expanded reciprocal tariffs will not apply to any products loaded onto a vessel for transport into the US before 12:01 a.m. New York time on Thursday, according to guidance issued by US Customs and Border Protection.. Trump said he would be “substantially raising” the tariff on Indian exports to the US over the Asian nation’s purchases of Russian oil, a move New Delhi slammed as unjustified in an escalating fight between the two major economies. The US is exploring ways to equip chips with better locationtracking capabilities, a senior official said, underscoring Washington’s effort to curtail the flow of semiconductors made by the likes of Nvidia to China. China’s services activity unexpectedly picked up in July, a private survey showed, contrasting with an official poll to indicate resilience amid the summer travel season A panel advising Japan’s government called for a record increase to the minimum wage for a second straight year, sending a positive signal to the Bank of Japan as it pursues demand-led economic growth.
Docket
02:45 ET
French Industrial Production MoM
Forecast: -0.5%, Prior: 0.6%, Range: 1.6% / -0.5%
03:50 ET
French PMI’s
Services – Forecast: 49.7, Prior: 49.7, Range: 49.9 / 49.7
Composite – Forecast: 49.6, Prior: 49.6, Range: 49.6 / 49.6
03:55 ET
German PMI’s
Services – Forecast: 50.1, Prior: 50.1, Range: 50.3 / 50.1
Composite – Forecast: 50.3, Prior: 50.3, Range: 50.3 / 50.3
04:00 ET
Eurozone PMI’s
Services – Forecast: 51.2, Prior: 51.2, Range: 51.5 / 51.1
Composite – Forecast: 51.0, Prior: 51.0, Range: 51.0 / 51.0
04:30 ET
UK PMI’s
Services – Forecast: 51.2, Prior: 51.2, Range: 51.9 / 51.2
Composite – Forecast: 51.0, Prior: 51.0, Range: 51.6 / 51.0
