Morning Juice – Europe Session Prep

Good Morning Traders.
It is Wednesday the 20th of May. Here is what to look out for today.

Sentiment
President Donald Trump threatened to resume strikes on Iran in the coming days as part of the push for a deal to end the war, after he said he had just called off a US attack. The European Union finalized the text of its long-delayed US trade deal after months of negotiations, clearing a major hurdle to ratifying the pact before President Donald Trump’s threatened deadline to impose higher tariffs. Japan’s 20-year government bond auction drew stronger demand than its 12-month average. The bid-to-cover ratio was 4.01 compared with 4.82 at the last auction and a 12-month average of 3.43. The tail was at 0.04 vs 0.02 at the previous sale. US President Donald Trump denied reports that his Chinese counterpart, Xi Jinping, offered a bleak assessment of Russia’s war in Ukraine, including claiming that Vladimir Putin would regret invading his neighbor. Oil held steady as traders weighed President Donald Trump’s latest threat to resume strikes on Iran. Federal Reserve Bank of Philadelphia President Anna Paulson said she favored holding interest rates steady and conditioned lower borrowing costs on making sustained progress on inflation.

Docket
02:00 ET
UK CPI
YoY – Forecast: 3% | Prior: 3.3% | Range: 3.3% / 2.7%
MoM – Forecast: 0.9% | Prior: 0.7% | Range: 1.3% / 0.7%
Core YoY – Forecast: 2.6% | Prior: 3.1% | Range: 3% / 2.4%
UK Input Prices
YoY – Forecast: 6.3% | Prior: 5.4% | Range: 6.4% / 5.9%
MoM – Forecast: 1% | Prior: 4.4% | Range: 3.5% / 0.6%
UK Output Prices
YoY – Forecast: 3% | Prior: 2.6% | Range: 3.3% / 2.6%
MoM – Forecast: 1% | Prior: 0.9% | Range: 1.5% / 0.5%

05:00 ET
Eurozone CPI
YoY – Forecast: 3% | Prior: 3% | Range: 3.1% / 2.9%
MoM – Forecast: 1% | Prior: 1% | Range: 1.1% / 1%
Core YoY – Forecast: 2.2% | Prior: 2.2% | Range: 2.3% / 2.2%