Morning Juice – Europe Session Prep

Good Morning traders.
It is Thursday the 7th of May. Here is what to look out for today.

Sentiment
The US and Iran were circling around a fresh proposal to end the war on Wednesday, as President Donald Trump searches for an exit from a conflict that has elevated energy prices and damaged his political standing. Japan is prepared to respond on all fronts to speculative moves in the foreign exchange market, the nation’s top currency official signaled, after authorities were suspected of having conducted intervention over the holiday period. Oil steadied after plunging nearly 8% in the previous session, as the US and Iran weighed a fresh proposal to end the war in the Middle East Japanese stocks surge led by tech gains as markets reopen after a holiday break, with investors catching up with the global equities rally driven by optimism the US and Iran were nearing a deal to end their conflict. China’s financial regulator advised the country’s largest banks to temporarily suspend new loans to five refiners recently sanctioned by the US over their ties to Iranian oil, according to people familiar with the matter.

Docket
04:30 ET
UK Construction PMI
Forecast: 51 | Prior: 51 | Range: 52 / 51.5

05:00 ET
Eurozone Retail Sales
Forecast: -0.3% | Prior: -0.2% | Range: 0.2% / -1%