Morning Juice – Europe Session Prep

Good Morning Traders.
It is Monday the 6th of July. Here is what to look out for today.

Sentiment
Oil steadied, following two days of gains, as flows through the Strait of Hormuz persisted and 0PEC+ signaled higher supplies, fanning concerns about a glut. Germany plans to increase net new borrowing for 2027 to €118 billion ($135 billion), about 7% more than projected in April. A group of economists including Andy Burnham adviser Jim O’Neill have called for a wide-ranging overhaul to boost Britain’s economy, proposing changes such as scrapping stamp duty and council tax. Italy may raise military and security spending by about €17 billion ($19.4 billion) over two years, Repubblica reported, an expected move as it aims to meet a NATO target of 5% by the middle of next decade. The South Korean won was stable against the dollar after inching higher as the currency began its first day of 24-hour trading, marking a milestone in Seoul’s push to open its financial markets to global investors.

Docket
02:00 ET
German Factory Orders MoM
Forecast: 1.1% | Prior: -3.8% | Range: 6% / -1%

04:00 ET
Eurozone Sentix Investor Confidence
Forecast: -10 | Prior: -13.4 | Range: -2 / -12.7

05:00 ET
Eurozone PPI
YoY – Forecast: 5.8% | Prior: 4.9% | Range: 6.2% / 5.3%
MoM – Forecast: 0.2% | Prior: 0.6% | Range: 0.3% / 0.1%
Eurozone Retail Sales
YoY – Forecast: 1.6% | Prior: 1% | Range: 1.9% / 1%
MoM – Forecast: 0.3% | Prior: -0.4% | Range: 0.7% / 0%