Morning Juice – Europe Session Prep

Good Morning Traders.
It is Wednesday the 17th of June. Here is what to look out for today.

Sentiment
Iran is set to receive broad financial incentives as part of its agreement with the US, including the right to sell oil immediately, tap a $300 billion development fund and get eventual access to its frozen assets, according to a final draft of the deal. Oil held near a three-month low on expectations that a US-Iran deal to reopen the Strait of Hormuz will unleash a wave of supply. Federal Reserve policymakers are expected to hold interest rates steady on Wednesday, posing an early test for new chairman Kevin Warsh as rising inflation erodes households’ purchasing power and President Donald Trump continues to press for lower borrowing costs. China’s central bank chief and top financial policymakers will take the stage Wednesday for the Lujiazui Forum, a gathering that could signal Beijing’s next moves to support the sputtering economy. Japan’s trade balance swung to a deficit for the first time in four months as the weak yen inflated the value of imports, even as volumes fell.

Docket
02:00 ET
UK CPI
YoY – Forecast: 3% | Prior: 2.8% | Range: 3.2% / 2.8%
MoM – Forecast: 0.4% | Prior: 0.7% | Range: 0.6% / 0.2%
Core YoY – Forecast: 2.7% | Prior: 2.5% | Range: 3% / 2.5%
RPI MoM – Forecast: 0.5% | Prior: 0.7% | Range: 0.8% / 0.3%
PPI Output
YoY – Forecast: 4% | Prior: 4% | Range: 4.5% / 3.7%
MoM – Forecast: 0.5% | Prior: 1.4% | Range: 1% / 0.3%
PPI Input
YoY – Forecast: -78 | Prior: -77.8 | Range: -74 / -82
MoM – Forecast: 8.8% | Prior: 7.7% | Range: 8.9% / 8.7%

04:00 ET
IEA Monthly Report

05:00 ET
Eurozone CPI
YoY – Forecast: 3.2% | Prior: 3.2% | Range: 3.2% / 3.2%
MoM – Forecast: 0.1% | Prior: 0.1% | Range: 0.1% / 0.1%
Core YoY – Forecast: 2.5% | Prior: 2.5% | Range: 2.6% / 2.5%