Morning Juice – Europe Session Prep

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

Sentiment
Japan’s key inflation gauge accelerated for the first time in five months, suggesting price pressures were building even before the full impact of elevated oil prices ripples through the economy. Japan’s Finance Minister Satsuki Katayama warned that officials are in close contact around the clock with their US counterparts as Tokyo remains on high alert over speculative moves that are keeping the yen weak. Oil climbed for a fifth day, its longest string of gains since January, as uncertainty over talks between the US and Iran threatened to further delay flows from the Persian Gulf US and Iran tensions grew over the Strait of Hormuz with both sides maintaining their blockades of the critical waterway, creating an uneasy standoff with no sign of peace talks on the horizon. Chinese exporters are beginning to lift prices on everything from swimsuits to air conditioners as the Iran war drives up oil-linked input costs, signaling that global consumer goods inflation is likely to accelerate.

Docket
02:00 ET
UK Retail Sales
YoY – Forecast: 1.1% | Prior: 2.5% | Range: 2.2% / 0.7%
MoM – Forecast: 0% | Prior: -0.4% | Range: 1% / -0.8%
Core YoY – Forecast: 2% | Prior: 3.4% | Range: 2.5% / 1.4%
Core MoM – Forecast: 0% | Prior: -0.4% | Range: 1% / -0.6%

02:45 ET
French Consumer Confidence
Forecast: 88 | Prior: 89 | Range: 90 / 85

04:00 ET
German IFO’s
Expectations – Forecast: 85.5 | Prior: 86 | Range: 87 / 83.1
Business Climate – Forecast: 85.7 | Prior: 86.4 | Range: 87 / 84.2
Current Conditions – Forecast: 86.2 | Prior: 86.7 | Range: 87 / 85