Morning Juice – Europe Session Prep

Good Morning Traders.
It is Friday the 27th of March. Here is what to look out for today.

Sentiment
Japan’s finance minister flagged the possibility of taking “bold actions” to counter currency moves, a reference to intervention, as the yen traded near a threshold where authorities entered the market on several occasions in 2024. Oil fell as President Donald Trump again pushed back a deadline for striking Iran’s energy, offering the market near-term respite while prolonging uncertainty over the course of the war well into April. Federal Reserve Governor Stephen Miran said the US central bank can shrink its balance sheet meaningfully from current levels but cautioned the process would likely take years and require several steps. Federal Reserve Governor Michael Barr said policymakers are well positioned to hold interest rates steady, as conflict in the Middle East and other factors complicate their ability to nudge inflation toward the 2% target. Federal Reserve Vice Chair Philip Jefferson said rising energy prices could drive up costs in other parts of the economy, though the increase so far should be manageable

Docket
03:00 ET
UK Retail Sales
YoY – Forecast: 2.1% | Prior: 4.5% | Range: 3.3% / 1.3%
MoM – Forecast: -0.7% | Prior: 1.8% | Range: 1.1% / -1.5%
Core YoY – Forecast: 2.7% | Prior: 5.5% | Range: 4.3% / 2.5%
Core MoM – Forecast: -1% | Prior: 2% | Range: 0.6% / -2%

05:00 ET
ECB CPI Expectations