Morning Juice – Europe Session Prep

Good Morning traders.
It is Friday the 1st of May. Here is what to look out for today.

Sentiment
The yen’s intervention-fueled rally is at risk of evaporating quickly, increasing the likelihood that Japan will have to wade back into the market to shore up the exchange rate.
President Donald Trump said he was sticking with a naval blockade of Iranian ports amid concerns the vital Strait of Hormuz would not reopen anytime soon. Oil held its second weekly gain as US President Donald Trump said he was sticking with a naval blockade of Iranian ports, elevating concerns the vital Strait of Hormuz would not reopen anytime soon. When Kevin Warsh hosts his first meeting as the new chair of the Federal Reserve, he’ll face an immediate dilemma: Stare down White House demands for immediate interest-rate cuts, or stare down fellow policymakers who remain skeptical of the need to ease. Treasuries rose as the recent surge in oil prices stalled and bond investors were drawn to 30-year yields that topped 5% for the first time this year.

Docket
02:00
UK Nationwide House Prices
YoY – Forecast: 2.2% | Prior: 2.2% | Range: 2.5% / 1.6%
MoM – Forecast: -0.3% | Prior: 0.9% | Range: -0.2% / -0.5%

04:30 ET
UK S&P Maufacturing PMI
Forecast: 53.3 | Prior: 53.6 | Range: 53.6 / 50.6
BoE Consumer Credit
Forecast: 4.2B | Prior: 4.8B | Range: 4.5B / 3.9B