Morning Juice – Europe Session Prep

Good Morning Traders.
It is Thursday, the 16th of October. Here is what to look out for today.

Sentiment

Australian unemployment rose to a four-year high as the economy added fewer jobs and more individuals sought work, indicating that the labour market is loosening and strengthening the argument for the RBA to commence interest rate cuts as soon as next month.

According to Japanese media, US Treasury Secretary Bessent stated in a group interview that the Yen will settle at an appropriate level provided the BoJ continues to conduct sound monetary policy.

Trump claimed Indian PM Modi has agreed to suspend purchases of Russian oil, signalling a possible resolution to an issue at the centre of the diplomatic and trade divide between Washington and New Delhi.

Bessent hinted at the potential of prolonging a break in import charges on Chinese goods for more than three months if China abandons its plans for severe new export curbs on rare-earth elements.

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02:00 ET
UK GDP Estimates
YoY – Forecast: 1.4% | Prior: 1.4%
MoM – Forecast: 0.1% | Prior: 0% | Range: 0.3% / -0.2%
3M/3M – Forecast: 0.3% | Prior: 0.2% | Range: 0.3% / 0.2%

UK Manufacturing Production MoM – Forecast: 0.2% | Prior: -1.3% | Range: 1% / -0.2%