Morning Juice – Europe Session Prep

Good Morning Traders.
It is Tuesday the 24th of March. Here is what to look out for today.

Sentiment
Oil rose – following a steep drop on Monday – as an Iranian lawmaker ruled out talks with the US, and concerns mounted that other regional nations could be drawn into the war.
Donald Trump’s decision to back down from his threat to destroy Iran’s power infrastructure came after US allies and Gulf countries privately warned the president of the dangers of following through with his threat, according to people familiar with the matter. Saudi Arabia and the United Arab Emirates have taken steps toward joining the Iran war, the Wall Street Journal reported, potentially signaling an escalation of the fighting. Japan’s Finance Ministry is said to have made inquiries with market participants on possible intervention in the crude oil futures market, in an apparent attempt to ease pressure on the commodity and currency. The European Union and Australia agreed to a free-trade deal, wrapping up almost a decade of talks as the two sides push to tighten ties and reinvigorate a rules-based order that’s under assault from the Trump administration.

Docket
04:15 ET
French PMI’s
Services – Forecast: 49 | Prior: 49.6 | Range: 51 / 48.5
Composite – Forecast: 49.3 | Prior: 49.9 | Range: 51 / 48.9
Manufacturing – Forecast: 49.5 | Prior: 50.1 | Range: 49.8 / 48.4

04:30 ET
German PMI’s
Services – Forecast: 52.5 | Prior: 53.5 | Range: 53.2 / 51
Composite – Forecast: 52.2 | Prior: 53.2 | Range: 52.7 / 51.2
Manufacturing – Forecast: 48.5 | Prior: 50.9 | Range: 50.7 / 48.5

05:00 ET
Eurozone PMI’s
Services – Forecast: 51.1 | Prior: 51.9 | Range: 51.9 / 47
Composite – Forecast: 51 | Prior: 51.9 | Range: 51.5 / 47
Manufacturing – Forecast: 49.6 | Prior: 50.8 | Range: 50.5 / 45

05:30 ET
UK PMI’s
Services – Forecast: 52.9 | Prior: 53.9 | Range: 53.5 / 50
Composite – Forecast: 52.8 | Prior: 53.7 | Range: 53.1 / 51.3
Manufacturing – Forecast: 50 | Prior: 51.7 | Range: 51.2 / 48