Morning Juice – Europe Session Prep

Good Morning Traders.
It is Tuesday the 12th of August. Here is what to look out for today.

Sentiment
Australia’s central bank trimmed its key interest rate for a third time this year, while signaling future policy decisions will hinge on incoming data. The Reserve Bank of Australia slightly lowered its estimate for gross domestic product growth to 1.7% this year, from 2.1% previously, while core inflation is seen near the midpoint of its 2-3% target through most of the forecast horizon, according to the quarterly Statement on Monetary Policy released Tuesday. President Donald Trump extended a pause of sky-high tariffs on Chinese goods for another 90 days into early November, stabilizing trade ties between the world’s two largest economies. The Federal Reserve’s two vice chairs, Michelle Bowman and Philip Jefferson, and Dallas Fed President Lorie Logan are under consideration to serve as chair of the central bank when the position opens next year, according to two administration officials. President Donald Trump said Monday imports of gold will not face US tariffs, weighing in after a federal ruling caused chaos and confusion in global bullion markets.

Docket
02:00 ET
UK Employment Data
Unemployment Rate – Forecast: 4.7%, Prior: 4.7%, Range: 4.8% / 4.7%
Employment Change SA – Forecast: -20k, Prior: -41k, Range: -7k / -35k
Employment Change 3m/3m – Forecast: 185k, Prior: 134k, Range: 228k / 120k
Average Weekly Earning YoY – Forecast: 5.0%, Prior: 4.7%, Range: 4.8% / 4.6%

05:00 ET
German ZEW
Economic Sentiment – Forecast: 39.5, Prior: 52.7, Range: 61.3 / 25.0
Current Conditions – Forecast: -67.0, Prior: -59.5, Range: -51.5 / -71.0