Morning Juice – Europe Session Prep
Good Morning Traders.
It is Thursday the 2nd of October. Here is what to look out for today
Sentiment
White House Budget Director Russell Vought is planning to swiftly dismiss federal workers, a sign that Republicans will lean into hardball tactics to pressure Democrats to cave to end a government shutdown. The US Supreme Court’s refusal to allow President Donald Trump to immediately oust Federal Reserve Governor Lisa Cook has eased pressure on the central bank after months of searing criticism from the White House that threatened its independence. Fed watchers caution that relief may be short lived Japan’s 10-year government bond sale saw weaker demand than the previous auction. The bid-to-cover ratio was at 3.34 vs 3.92 at the last auction; 12-month average is 3.23 The tail was at 0.19 vs 0.06 for prior sale. Global investors sold the largest amount of Japanese bonds in a year last week, preliminary figures from the Ministry of Finance show on Thursday.. Australia’s household spending came in weaker than expected in August, adding to the case for the Reserve Bank to resume policy easing as soon as next month. US President Donald Trump said he would confront Chinese President Xi Jinping over Beijing’s refusal to purchase American soybeans, a growing area of tension between the world’s two largest economies.
Docket
02:30 ET
Swiss CPI
YoY – Forecast: 0.3% | Prior: 0.2% | Range: 0.4% / 0.2%
MoM – Forecast: -0.2% | Prior: -0.1% | Range: 0% / -0.2%
Core YoY – Forecast: 0.7% | Prior: 0.7% | Range: 0.8% / 0.7%
05:00 ET
Eurozone Unemployment Rate – Forecast: 6.2% | Prior: 6.2% | Range: 6.3% / 6.2%
