Morning Juice – Europe Session Prep
Good Morning Traders.
It is Friday the 23rd of January. Here is what to look out for today.
Sentiment
The BOJ left its policy rate unchanged Friday at 0.75%, according to a statement, as forecast by all surveyed economists. That leaves borrowing costs at the highest level in three decades. In its latest quarterly outlook, the bank revised up four out of six of its inflation projections and reiterated its intention to raise borrowing costs if its outlook materializes. Japan’s inflation slowed for the first time in four months on the impact of government subsidies, in a report that nevertheless highlighted the underlying strength of price pressure hours before the central bank decides policy. China will set a lower economic growth goal for 2026 than last year, the South China Morning Post reported, in a sign top leaders may refrain from measures to reverse a slowdown that intensified in recent months. China’s central bank set die yuan’s daily reference rate stronger than the closely watched 7-per-dollar level for the first time in over two years, in the latest sign of policymakers’ intention to allow further appreciation in the currency.
Docket
02:00 ET
UK Retail Sales
YoY – Forecast: 1.1% | Prior: 0.6% | Range:1.6% / 0.4%
MoM – Forecast: 0% | Prior: -0.1% | Range: 0.5% / -0.7%
Core YoY – Forecast: 1.7% | Prior: 1.2% | Range: 2.2% / 0.8%
Core MoM – Forecast: 0% | Prior: -0.2% | Range: 0.5% / -0.8%
03:15 ET
French PMI’s
Services – Forecast: 50.3 | Prior: 50.1 | Range: 51 / 49.5
Composite – Forecast: 50 | Prior: 50 | Range: 50.9 / 49.5
Manufacturing – Forecast: 50.5 | Prior: 50.7 | Range: 51 / 47.1
03:30 ET
German PMI’s
Services – Forecast: 52.5 | Prior: 52.7 | Range: 53.7 / 51.4
Composite – Forecast: 51.7 | Prior: 51.3 | Range: 52.5 / 51
Manufacturing – Forecast: 47.8 | Prior: 47 | Range: 48.7 / 46.5
04:00 ET
Eurozone PMI’s
Services – Forecast: 52.6 | Prior: 52.4 | Range: 53.6 / 51.7
Composite – Forecast: 51.9 | Prior: 51.5 | Range: 52.7 / 51
Manufacturing – Forecast: 49.2 | Prior: 48.8 | Range: 50 / 46.9
04:30 ET
UK PMI’s
Services – Forecast: 51.7 | Prior: 51.4 | Range: 52.6 / 50.4
Composite – Forecast: 51.5 | Prior: 51.4 | Range: 52.5 / 50.9
Manufacturing – Forecast: 50.6 | Prior: 50.6 | Range: 51.1 / 49.7
