Morning Juice – Europe Session Prep

Good Morning Traders.
It is Thursday the 12th of February. Here is what to look out for today.

Sentiment
The Republican-led US House passed legislation aimed at ending President Donald Trump’s tariffs on Canada, signaling a growing anxiety over the White House’s economic agenda before midterm elections focused heavily on affordability. Hedge funds are reversing course and ramping up bets on a stronger yen as the buy Japan trade takes hold even after robust US jobs data curbed expectations for Federal Reserve rate cuts this year, according to traders. Japan’s super-long bonds extended their post-election rally as Prime Minister Sanae Takaichi’s historic election win soothed investor concerns about fiscal policy. Federal Reserve Bank of Kansas City President Jeff Schmid said the US central bank should hold rates at a “somewhat restrictive” level, as he expressed continued concerns over inflation that remains too high. Australia’s central bank stands ready to raise interest rates further if inflation proves persistent, Governor Michele Bullock said, stressing that the board remains cautious and is yet to decide whether further tightening is warranted.

Docket
02:00 ET
UK GDP
QoQ – Forecast: 0.2% | Prior: 0.1% | Range: 0.2% / 0%
YoY – Forecast: 1.2% | Prior: 1.3% | Range: 1.4% / 1%
MoM – Forecast: 0.1% | Prior: 0.3% | Range: 0.2% / -0.1%
UK Manufacturing Production
YoY – Forecast: 1.7% | Prior: 2.1% | Range: 2.3% / 1%
MoM – Forecast: -0.1% | Prior: 2.1% | Range: 0.5% / -1.3%
UK Industrial Production
YoY – Forecast: 1.4% | Prior: 2.3% | Range: 1.7% / -0.1%
MoM – Forecast: 0% | Prior: 1.1% | Range: 0.3% / -1%