Morning Juice – Europe Session Prep

Good Morning Traders.
It is Wednesday the 5th of November. Here is what to look out for today.

Sentiment
The future of much of President Donald Trump’s tariff campaign rests in the hands of the US Supreme Court, which will decide whether he can use an emergency law that had previously never been wielded to impose import taxes. Oil fell for a second day after an industry report indicated the biggest increase in US inventories in more than three months.
US President Donald Trump announced a cut to fentanyl-related tariffs on imports from China and the continued freeze of some of his reciprocal levies on Chinese goods, formalizing key elements of the sweeping trade deal struck with Chinese leader Xi Jinping. US President Donald Trump said he met with representatives from Switzerland and announced additional trade talks, as the European nation seeks to reduce a tariff rate that ranks higher than any other developed nation.

Docket
02:00 ET
German Industrial Orders MoM
Forecast: 0.9% | Prior: -0.8% | Range: 3.6% / -1.6^

03:30 ET
Swedish Riksbank Rate
Forecast: 1.75% | Prior: 1.75% | Range: 1.75% / 1.75%

03:50 ET
French PMI’s
Composite – Forecast: 46.8 | Prior: 46.8 | Range: 47.1 / 46.8
Services – Forecast: 47.1 | Prior: 47.1 | Range: 47.5 / 47.1

03:55 ET
German PMI’s
Composite – Forecast: 53.8 | Prior: 53.8 | Range: 53.8 / 53.7
Services – Forecast: 49.6 | Prior: 49.6 | Range: 49.7 / 49.6

04:00 ET
Eurozone PMI’s
Composite – Forecast: 52.2 | Prior: 52.2 | Range: 52.3 / 51.9
Services – Forecast: 52.6 | Prior: 52.6 | Range: 52.6 / 52
ECB Wage Tracker

04:30 ET
UK PMI’s
Composite – Forecast: 51.1 | Prior: 51.1 | Range: 51.1 / 51
Services – Forecast: 51.1 | Prior: 51.1 | Range: 51.1 / 51.1