Morning Juice – Europe Session Prep

Good Morning Traders.
It is Monday the 1st of June. Here is what to look out for today.

Sentiment
The US and Iran traded messages over the weekend seeking changes to a draft agreement that would extend a ceasefire and open the Strait of Hormuz, but it was unclear whether the sides were making much progress. Oil rose from a six-week low Bond traders are looking to the monthly jobs figures this week to confirm their wagers that the US economy is strong enough to push the Federal Reserve to lift interest rates by next year. Yen traders face a heightened risk of intervention over the next two weeks after Japan’s currency defied historic attempts to prop it up. UK Prime Minister Keir Starmer will be forced to publish hundreds of private exchanges between disgraced former ambassador Peter Mandelson and members of his government on Monday, disclosures which are likely to put his beleaguered premiership in further danger. The European Central Bank shouldn’t hesitate to act, given elevated consumer-price pressures, according to Governing Council member Alvaro Santos Pereira. “When there are potential inflationary spirals, I prefer that we act more quickly and decisively”

Docket
02:00 ET
German Real Retail Sales
YoY – Forecast: -1.6% | Prior: 0.9% | Range: -1% / -3%
MoM – Forecast: -0.5% | Prior: -2% | Range: 1% / -1%
UK Nationwide House Prices
YoY – Forecast: 2.3% | Prior: 3% | Range: 2.5% / 1.9%
MoM – Forecast: -0.2% | Prior: 0.4% | Range: 0.1% / -0.5%

03:00 ET
Swiss GDP
QoQ – Forecast: 0.6% | Prior: 0.1% | Range: 0.7% / 0.1%
YoY – Forecast: 0.4% | Prior: 0.7% | Range: 0.5% / 0.3%

03:50 ET
French Manufacturing PMI
Forecast: 48.9 | Prior: 48.9 | Range: 49.1 / 48.9

03:55 ET
German Manufacturing PMI
Forecast: 49.9 | Prior: 49.9 | Range: 50.1 / 49.9

04:00 ET
Eurozone Manufacturing PMI
Forecast: 51.4 | Prior: 51.4 | Range: 51.6 / 50.5

04:30 ET
UK Manufacturing PMI
Forecast: 53.7 | Prior: 53.7 | Range: 53.8 / 53.6