Morning Juice – Europe Session Prep

Good Morning Traders.
It is Wednesday the 6th of may. Here is what to look out for today.

Sentiment
President Donald Trump said he would pause a US-led effort to help stranded ships exit the Strait of Hormuz to see if an agreement with Iran to end the war could be reached. The president cited “Great Progress” toward “a Complete and Final Agreement with Representatives of Iran.” The US said offensive operations against Iran are over as it shifts to protecting shipping in the Strait of Hormuz, but the targeting of another cargo vessel after a day of strikes signaled that the conflict is dragging on. Oil fell a second day as US President Donald Trump said “Great Progress” has been made on a final agreement to end the war with Iran. China’s services activity unexpectedly expanded at a stronger pace in April, a private survey showed, even as price shocks from the Iran war ripple through the economy and companies choose not to pass on higher costs to customers.

Docket
03:50 ET
French PMI’s
Services – Forecast: 46.5 | Prior: 46.5 | Range: 46.8 / 46.3
Composite – Forecast: 47.6 | Prior: 47.6 | Range: 47.6 / 47.6

03:55 ET
German PMI’s
Services – Forecast: 46.9 | Prior: 46.9 | Range: 46.9 / 45.5
Composite – Forecast: 48.3 | Prior: 48.3 | Range: 48.3 / 48.3

04:00 ET
Eurozone PMI’s
Services – Forecast: 47.4 | Prior: 47.4 | Range: 48.2 / 46.5
Composite – Forecast: 48.6 | Prior: 48.6 | Range: 49.1 / 48.6

04:30 ET
UK PMI’s
Services – Forecast: 51 | Prior: 51 | Range: 52 / 51
Composite – Forecast: 51 | Prior: 51 | Range: 52 / 51.5