Morning Juice – Europe Session Prep

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

Sentiment
Australia’s core inflation slowed in November, supporting the case for the Reserve Bank to keep interest rates unchanged for now as it assesses the impact of earlier policy easing. President Donald Trump said Venezuela would relinquish as much as 50 million barrels of oil to the US, declaring it would be sold with the proceeds benefiting both countries. The Trump’s administration has also told Venezuela’s interim leader, Delcy Rodriguez, that her government must exclusively partner with the US on oil production and favor the US when selling heavy crude, ABC reported. Oil extended losses after Washington moved to exert greater control over Venezuela’s oil industry. The People’s Bank of China will increase counter-cyclical and cross-cyclical adjustments to promote stable economic growth, according to the central bank-backed Financial News Tokyo protested China’s announcement of export controls on items shipped to Japan that could have military uses, the latest flare up in diplomatic tension between the two Asian nations in a dispute related to Taiwan. Traders in Treasury options are boosting bets that US 10-year yields will bust out of their recent range and tumble below 4% in the coming weeks to levels last seen in November.

Docket
02:30 ET
German Real Retail Sales
YoY – Forecast: 0.1% | Prior: 1.3% | Range: 1.5% / -1.8%
MoM – Forecast: 0.2% | Prior: -0.3% | Range: 0.8% / -0.3%

03:55 ET
German Unemployment
Rate – Forecast: 6.3% | Prior: 6.3% | Range: 6.4% / 6.3%
Change – Forecast: 5K | Prior: 1K | Range: 20K / -5K

05:00 ET
Eurozone CPI
YoY – Forecast: 2% | Prior: 2.1% | Range: 2.2% / 1.9%
MoM – Forecast: 0.2% | Prior: -0.3% | Range: 0.4% / 0.1%