Morning Juice – Europe Session Prep

Good Morning Traders.
It is Wednesday the 11th of March. Here is what to look out for today.

Sentiment
The International Energy Agency has proposed the largest ever release of oil reserves, according to the Wall Street Journal, as governments seek to contain a spike in energy prices driven by the Middle East war. Energy markets whipsawed for a second consecutive day as investors raced to interpret rapidly shifting comments from the Trump administration over the war in Iran. Oil gave up earlier gains and fluctuated after a Wall Street Journal report that the IEA is proposing the largest release of reserves in its history to tackle elevated prices triggered by the Iran war. With three weeks until Donald Trump meets Xi Jinping, Beijing is frustrated by what it sees as insufficient US preparation that may limit the landmark summit to trade agreements and leave key diplomatic and security matters untouched. In one of the most conservative congressional districts in the US, a special election in Georgia to replace former Representative Marjorie Taylor Greene has produced an unusual runoff: a Democrat facing a Republican endorsed by President Donald Trump. And in a surprise, the Democrat was ahead.

Docket
03:00 ET
German CPI
YoY – Forecast: 1.9% | Prior: 1.9% | Range: 1.9% / 1.9%
MoM – Forecast: 0.2% | Prior: 0.2% | Range: 0.2% / 0.2%
HICP YoY – Forecast: 2% | Prior: 2% | Range: 2% / 1.9%
HICP MoM – Forecast: 0.4% | Prior: 0.4% | Range: 0.4% / 0.3%

08:00 ET
OPEC Monthly Report