Morning Juice – Europe Session Prep

Good Morning Traders.
It is Thursday the 14th of May. Here is what to look out for today.

Sentiment
Xi in his opening remarks said the US and China should help each other to succeed and prosper while Trump said the relationship will be “better than ever.” Trump also highlighted the delegation travelling with him which includes Nvidia’s Jensen Huang and Tesla’s Elon Musk. Allies of Wes Streeting, who hails from the right wing of the party, said on Wednesday that the health secretary was likely to quit his post this week and launch a bid to replace Starmer as Labour leader. Oil steadied with Trump and Xi’s meeting set against the backdrop of the Iran war that shows no signs of a near-term resolution The Bank of Japan need to raise interest rates at the earliest stage as long as there is no clear sign of economic slowdown, according to policy board member Kazuyuki Masu European Union leaders must show courage in strengthening the bloc’s foundations, according to European Central Bank President Christine Lagarde. More UK estate agents reported falling house prices in April, with the Royal Institution of Chartered Surveyors’ gauge falling to its lowest point since November 2023. The Federal Reserve said Wednesday it will buy about $10 billion of Treasury bills this period, a further slowdown of a program meant to ease short-term funding costs by rebuilding reserves in the financial system.

Docket
02:00 ET
UK GDP
QoQ – Forecast: 0.6% | Prior: 0.1% | Range: 0.8% / 0.1%
YoY – Forecast: 0.8% | Prior: 1% | Range: 1% / 0.5%
UK Manufacturing Production
YoY – Forecast: 0.2% | Prior: -0.5% | Range: 0.6% / -0.4%
MoM – Forecast: -0.1% | Prior: -0.1% | Range: 0.4% / -0.6%
UK Industrial Production
YoY – Forecast: 0.3% | Prior: -0.4% | Range: 0.5% / -0.8%
MoM – Forecast: -0.2% | Prior: 0.5% | Range: 0.2% / -1.3%