Morning Juice – Europe Session Prep

Good Morning Traders.
It is Friday the 29th of May. Here is what to look out for today.

Sentiment
The US and Iran have reached a tentative deal to extend a ceasefire by 60 days and launch further talks on Tehran’s nuclear program, a person with knowledge of the matter said, raising hopes the three-month conflict could be nearing a resolution. President Donald Trump has yet to agree to the terms. Oil fell as the US and Iran tentatively agreed to extend a ceasefire by 60 days, with Brent set for the biggest monthly drop since 2020 on optimism that flows through the Strait of Hormuz may resume. Tokyo’s key inflation gauge unexpectedly cooled to the slowest pace in four years, complicating the messaging while not necessarily derailing an expected interest-rate hike from the Bank of Japan as early as next month. New Zealand’s central bank is yet to see medium-term inflation pressures emerge, but it’s prepared to respond aggressively if they appear, Assistant Governor Karen Silk said. SpaceX is currently targeting a valuation of at least $1.8 trillion in its initial public offering, according to people familiar with the matter, as Elon Musk’s rocket and artificial intelligence company nears its debut.

Docket
02:45 ET
French GDP QoQ
Forecast: 0% | Prior: 0% | Range: 0.3% / 0%
French CPI
YoY – Forecast: 2.5% | Prior: 2.2% | Range: 2.7% / 2.2%
MoM – Forecast: 0.2% | Prior: 1% | Range: 0.4% / 0.1%
HICP YoY – Forecast: 2.9% | Prior: 2.5% | Range: 3.1% / 2.7%
HICP MoM – Forecast: 0.2% | Prior: 1.2% | Range: 0.4% / 0.1%

03:55 ET
German Unemployment
Rate – Forecast: 6.4% | Prior: 6.4% | Range: 6.5% / 6.4%
Change – Forecast: 10K | Prior: 20K | Range: 25K / 5K

08:00 ET
German CPI
YoY – Forecast: 2.9% | Prior: 2.9% | Range: 3.4% / 2.6%
MoM – Forecast: 0.1% | Prior: 0.6% | Range: 0.7% / -0.2%
HICP YoY – Forecast: 2.8% | Prior: 2.9% | Range: 3.2% / 2.6%
HICP MoM – Forecast: 0% | Prior: 0.5% | Range: 0.4% / -0.1%