Morning Juice – Europe Session Prep

Good Morning Traders.
It is Thursday the 2nd of July. Here is what to look out for today.

Sentiment
The yen sliding to a once-unthinkable 200 per dollar level is now a medium-term risk – albeit an extreme one – for some investors. Japan’s weak currency caused the most bankruptcies for the first half of a year since 2022, underscoring the growing economic costs of the currency’s slump. Oil fell for a third day as flows through the Strait of Hormuz climbed and there were signs of progress in indirect talks between the US and Iran. New Zealand house prices fell for the third straight month in June, nearing a three-year low and adding to signs of an economic slowdown as the global oil shock hits household incomes and consumer confidence. Japanese Prime Minister Sanae Takaichi arrived in India Wednesday for a three-day trip to deepen economic ties and strengthen security cooperation with counterpart Narendra Modi as the two Asian powers seek to wean off dependence on China. The US won’t renew its trade deal with Canada and Mexico, choosing instead to conduct annual reviews of the pact in a decision that risks adding uncertainty for companies producing goods across North America. South Korea’s biggest lenders are boosting trading desks in London and Seoul to prepare for the won’s round-the-clock trading starting next week

Docket
02:30 ET
Swiss CPI
YoY – Forecast: 0.5% | Prior: 0.6% | Range: 0.6% / 0.3%
MoM – Forecast: 0.1% | Prior: 0.2% | Range: 0.2% / 0%

05:00 ET
Eurozone Unemployment Rate
YoY – Forecast: 5.1% | Prior: 5.1% | Range: 5.3% / 5%