Morning Juice – Europe Session Prep

Good Morning Traders.
It is Thursday the 21st of May. Here is what to look out for today.

Sentiment
Australia’s unemployment rate unexpectedly climbed in April, suggesting the labor market is beginning to cool in response to rising interest rates and an energy shockwave from the Middle East conflict. The US and Iran traded threats of escalation on Wednesday as the weeks-long standoff in the Middle East dragged on without resolution.
Oil inched higher after plummeting on Wednesday, as President Donald Trump said the US is in the “final stages” with Iran. The Bank of Japan will consult market participants on the pace ( tapering its bond purchases this week as yields soar to multi­year highs on concerns over spending and inflation Nvidia, facing more investor skepticism, used its latest quarterly report to tout progress in diversifying the company, which aims to rely less on the giant data center operators that have fueled its runaway growth.

Docket
03:15 ET
French PMI’s
Services – Forecast: 46.7 | Prior: 46.5 | Range: 47.7 / 44.5
Composite – Forecast: 47.7 | Prior: 47.6 | Range: 48.5 / 46.1
Manufacturing – Forecast: 52.1 | Prior: 52.8 | Range: 53.2 / 49.5

03:30 ET
Geraman PMI’s
Services – Forecast: 47 | Prior: 46.9 | Range: 50.2 / 44.9
Composite – Forecast: 48.5 | Prior: 48.4 | Range: 51.4 / 47
Manufacturing – Forecast: 51 | Prior: 51.4 | Range: 52 / 50.3

04:00 ET
Eurozone PMI’s
Services – Forecast: 47.8 | Prior: 47.6 | Range: 49 / 45.9
Composite – Forecast: 48.8 | Prior: 48.8 | Range: 49.5 / 47.5
Manufacturing – Forecast: 51.8 | Prior: 52.2 | Range: 53 / 49.5

04:30 ET
UK PMI’s
Services – Forecast: 51.7 | Prior: 52.7 | Range: 53 / 50.3
Composite – Forecast: 51.6 | Prior: 52.6 | Range: 52.4 / 50.8
Manufacturing – Forecast: 53 | Prior: 53.7 | Range: 54 / 50.5