Morning Juice – Europe Session Prep

Good Morning Traders.
It is Wednesday the 8th of October. Here is what to look out for today.

Sentiment
New Zealand’s central bank cut interest rates by 50 basis points and said it is open to further reductions to stimulate demand as the economy struggles to grow. The local dollar fell. Japan’s wages rose at the slowest pace in three months with real pay extending its falling streak, highlighting a challenge for newly elected ruling party leader Takaichi who has pledged to address the increase in living costs. The yen slid further on Wednesday after touching the weakest level since February against the dollar, as Takaichi’s surprise win as the new leader of Japan’s ruling Liberal Democratic Party continued to weigh on the currency. Spot gold prices climbed above $4,000 an ounce for the first time, as concerns over the US economy and a government shutdown added fresh momentum to a scorching rally. President Donald Trump said he expects the US and Canada can eventually reach a trade deal, but he remained vague about how and when an agreement might be achieved.

Docket
02:00 ET
German Industrial Production
YoY – Forecast: -1% | Prior: 1.3% | Range: 1% / -2%
MoM – Forecast: 1.2% | Prior: -2.9% | Range: 2.5% / -0.5%