Morning Juice – Europe Session Prep

Good Morning Traders.
It is Wednesday the 4th of March. Here is what to look out for today.

Sentiment
Oil extended gains as fresh attacks flared in the Middle East and traders weighed a US plan to insure and escort tankers passing through the Strait of Hormuz, with traffic in the vital waterway all but halted. President Donald Trump said the US will provide insurance guarantees and naval escorts to ensure safe passage for oil tankers and other vessels through the Strait of Hormuz, intending to head off a potential energy crisis caused by the war with Iran. Australia’s economy began firing on all cylinders in the final three months of last year, underpinned by public and private spending and keeping back-to-back Reserve Bank interest-rate hikes in play. Goldman Sachs Group Inc. Chairman David Solomon said he’s been surprised by the “benign” reaction in financial markets to the Middle East conflict, adding that it will take weeks to understand more about the situation.

Docket
02:30 ET
Swiss CPI
YoY – Forecast: 0% | Prior: 0.1% | Range: 0.1% / -0.5%
MoM – Forecast: 0.5% | Prior: -0.1% | Range: 0.6% / 0.4%

03:50 ET
French PMI’s
Services – Forecast: 49.6 | Prior: 49.6 | Range: 50.3 / 49.6
Composite – Forecast: 49.9 | Prior: 49.9 | Range: 50 / 49.6

03:55 ET
German PMI’s
Services – Forecast: 53.4 | Prior: 53.4 | Range: 53.5 / 53.4
Composite – Forecast: 53.1 | Prior: 53.1 | Range: 53.1 / 53.1

04:00 ET
Eurozone PMI’s
Services – Forecast: 51.8 | Prior: 51.8 | Range: 52.2 / 51.2
Composite – Forecast: 51.9 | Prior: 51.9 | Range: 51.9 / 51.3

04:30 ET
UK PMI’s
Services – Forecast: 53.9 | Prior: 53.9 | Range: 54.1 / 53.8
Composite – Forecast: 53.9 | Prior: 53.9 | Range: 53.9 / 53.8

05:00 ET
Eurozone Unemployment Rate
Forecast: 6.2% | Prior: 6.2% | Range: 6.3%/ 6.2%