Morning Juice – Europe Session Prep

Good Morning Traders.
It is Friday the 7th of November. Here is what to look out for today.

Sentiment
Oil was set for a second weekly drop, as supply increases around the world heighten concerns about the size of a swelling glut. Japan’s household spending rose for a fifth month, providing some support for an economy that analysts say contracted in the third quarter, but coming in below expectations. Treasuries rallied after private measures of US economic data pointed to a stumbling jobs market, spurring traders to boost wagers that the Federal Reserve will cut interest rates next month. Gold steadied as traders weighed comments from Federal Reserve officials as well as data showing a dramatic weakening in the US jobs market, raising the prospect of lower interest rates. The US is pushing forward on President Donald Trump’s pledge to pause a series of penalties aimed at China’s shipbuilding industry, a key concession in his interim trade pact with counterpart Xi Jinping.

Docket
02:00 ET
German Trade Balance – Forecast: 16.7B | Prior: 17.2B | Range: 18B / 15B
German Imports – Forecast: 0.5% | Prior: -1.3% | Range: 1.2% / 0%
German Exports – Forecast: 0.5% | Prior: -0.5% | Range: 0.8% / -0.3%

Speakers
03:00 ET
Fed’s Williams delivers keynote speech at ECB Conference on Money Markets 2025, hybrid event in Frankfurt.

04:00 ET
SNB’s Tschudin chairs panel at ECB Conference on Money Markets 2025, hybrid event in Frankfurt.

07:00 ET
ECB’s Nagel holds on-stage discussion with Fed’s Jefferson.