Morning Juice – Europe Session Prep

Good Morning Traders.
It is Friday the 20th of March. Here is what to look out for today.

Sentiment
Oil dropped from its highest close since July 2022, as the leaders of the US and Israel sought to reassure investors rattled by damage to major Persian Gulf energy facilities. Israel said it will no longer target energy infrastructure after an attack on an Iranian gas field sparked retaliatory strikes against energy assets across the Middle East, causing oil and gas prices to surge and prompting a rebuke from President Donald Trump. Tensions between the US and Japan over the Iran war remained evident as President Donald Trump hosted Prime Minister Sanae Takaichi, even as he said Tokyo was answering his call for support in the effort. China’s government spending got off to its fastest start to any year since 2022, likely an effort by authorities to fortify the economy in the face of rising external uncertainty. Iran’s latest attack on Qatar, which severely damaged the world’s largest liquefied natural gas export facility, will cost the country’s state energy company about $20 billion of lost revenue.

Docket
03:00 ET
German PPI
YoY – Forecast: -2.7% | Prior: -3% | Range: -2.1% / -2.9%
MoM – Forecast: 0.3%% | Prior: -0.6% | Range: 0.7% / -0.1%

07:00 ET
UK CBI Orders
Forecast: -30 | Prior: -28 | Range: -26 / -35