Morning Juice – Europe Session Prep
Good Morning Traders.
It is Tuesday the 9th of June. Here is what to look out for today.
Sentiment
Oil steadied after Israel and Iran agreed to end attacks against each other following an escalation of violence that threatened to derail efforts to end the war in the Middle East. Iran and Israel agreed to ease strikes against each other after a flare-up in violence threatened to derail peace negotiations and led President Donald Trump to appeal for de-escalation. Hedge funds are bracing for further yen weakness in the run-up to this month’s Bank of Japan meeting, arguing that even another rate hike will do little to reverse structural pressures triggered by rising oil prices, capital outflows and interest-rate differentials. Investors should exercise caution regarding US stocks as an increasing number of “bear market signposts” point to an approaching top, according to Bank of America Securities. China’s exports and imports expanded at a faster pace in May, topping forecasts as booming demand for artificial intelligence hardware offsets disruptions from the war in Iran. Japan is currently undergoing the greatest budgetary reform process since the end of World War II, Finance Minister Satsuki Katayama said.
Docket
02:00 ET
German Industrial Production
YoY – Forecast: -1.1% | Prior: -2.8% | Range: 0.2% / -2%
MoM – Forecast: 0.4% | Prior: -0.7% | Range: 1.5% / -1%
German Trade
Imports – Forecast: -2% | Prior: 5.1% | Range: 1.5% / -3%
Exports – Forecast: -0.5% | Prior: 0.5% | Range: 1.6% / -2%
Balance – Forecast: 15.9B | Prior: 14.3B | Range: 17.4B / 11B
