Morning Juice – Europe Session Prep

Good Morning Traders.
It is Friday the 3rd of October. Here is what to look out for today.

Sentiment
Bank of Japan Governor Kazuo Ueda kept his policy options open by reiterating the bank’s long-held stance on interest rates, avoiding sending any clear signals about the prospects for a rate hike when the board meets later this month. Treasury Secretary Scott Bessent predicted a “pretty big breakthrough” in the next round of trade talks with China, even as the Trump administration takes steps to support American farmers hurt by a decline in Chinese purchases of soybeans. Japan’s jobless rate rose to its highest in over a year, signaling a slight loosening of the labor market as speculation swirls over a Bank of Japan rate hike in the near term. Treasury Secretary Scott Bessent reiterated support for Argentina on Thursday, but later warned any aid wouldn’t involve outright US investment, triggering steep swings in bond prices. President Donald Trump is weighing slashing “thousands” of federal jobs ahead of a meeting with his budget director, Russell Vought, as the White House looks to ratchet up pressure on Democrats to end a government shutdown that has entered its second day. Oil fell to the lowest in nearly five months as 0PEC+ is expected to agree on restoring more idled supply in a meeting over the weekend, while the ongoing US government shutdown fueled risk- off sentiment

Docket
03:50 ET
French PMI’s
Services – Forecast: 48.9 | Prior: 48.9 | Range: 49.1 / 48.9
Composite – Forecast: 48.4 | Prior: 48.4 | Range: 48.6 / 48.4

03:55 ET
German PMI’s
Services – Forecast: 52.5 | Prior: 52.5 | Range: 52.6 / 52.2
Composite – Forecast: 52.4 | Prior: 52.4 | Range: 52.4 / 52.3

04:00 ET
Eurozone PMI’s
Services – Forecast: 51.4 | Prior: 51.4 | Range: 51.6 / 51.2
Composite – Forecast: 51.2 | Prior: 51.2 | Range: 51.2 / 50.7

04:30 ET
UK PMI’s
Services – Forecast: 51.9 | Prior: 51.9 | Range: 52.2 / 51.9
Composite – Forecast: 51 | Prior: 51 | Range: 51.3 / 51