Morning Juice – Europe Session Prep

Good Morning Traders.
It is Tuesday the 19th of May. Here is what to look out for today.

Sentiment
Oil fell after President Donald Trump said he’d called off a strike on Iran planned for Tuesday following an appeal by Persian Gulf allies. A senior Japanese Finance Ministry official sowed doubt over any prospects for the nation to sell US Treasuries as part of any move to prop up the yen, suggesting the maneuver could end up being counterproductive. Japan’s economy grew much faster than expected at the start of the year, supporting the case for further Bank of Japan interest- rate hikes, though the outlook remains highly uncertain due to the Middle East conflict. Australian policy makers are increasingly concerned about inflation expectations becoming unanchored, a senior Reserve Bank official said, as the latest oil-price shock from the US- Iran war hits at a time when underlying pressures from the previous price surge have yet to fully subside.

Docket
02:00 ET
UK Employment
Change SA – Forecast: -10K | Prior: -11K | Range: 5K / -15K
Change 3M/3M – Forecast: 101K | Prior: 25K | Range: 240K / 40K
Unemployment Rate – Forecast: 4.9% | Prior: 4.9% | Range: 5.1% / 4.7%
Average Weekly Earnings YoY – Forecast: 3.8% | Prior: 3.8% | Range: 3.9% / 3.6%