Morning Juice – Europe Session Prep

Good Morning Traders.
It is the 9th of July. Here is what to look out for today.

Sentiment
Oil extended a surge as the US struck targets in Iran for a second day, raising risks for energy supplies from the Middle East New Zealand manufacturing expanded at the fastest pace in almost five years in June as central bank Governor Anna Breman pointed to a burgeoning economic recovery, underscoring this week’s decision to raise interest rates. The Bank of Japan may pick up the pace of its rate hikes late this year and eventually push the benchmark above 2% as it races to rein in inflation, a former central bank official said. China’s central bank acknowledged the economy is becoming more unbalanced as the boom in artificial intelligence deepens a divide in growth between sectors, though it largely reiterated its existing policy stance. China’s consumer prices rose slower than expected and factory inflation showed signs of peaking, after a pullback in commodity costs with an easing of tensions over Iran last month. A few Federal Reserve officials in their most recent policy meeting said there was a case for raising interest rates, though they ultimately supported the decision to leave rates on hold.

Docket
02:00 ET
German Trade
Trade Balance – Forecast: 14.8B | Prior: 14.5BM | Range: 16B / 14.4B
Imports – Forecast: -0.8%M | Prior: 1.2% | Range: 0.5% / -1%
Exports – Forecast: -0.4% | Prior: 0.9% | Range: 0.5% / -2%

07:30 ET
ECB Meeting Minutes