Morning Juice – Europe Session Prep

Good Morning Traders.
It is Friday the 10th of July. Here is what to look out for today.

Sentiment
Japan called on its pension funds, including one of the world’s largest, to invest in domestic assets, giving a boost to both bonds and the yen from levels near multi-decade lows Oil steadied at the end of a bumpy week, as talks between the US and Iran continued despite a flare-up in fighting that drove a steep drop in traffic through the Strait of Hormuz. Japan’s corporate goods prices picked up in June to the fastest pace since early 2023, adding to evidence of rising inflationary pressures that support the case for the Bank of Japan to keep raising interest rates. A two-day exchange of airstrikes and the reimposition of US oil sanctions have left the truce President Donald Trump reached with Iran last month in limbo. Andy Burnham’s path to becoming the next UK prime minister looks certain after a vast majority of Labour MPs formally nominated him to be the next party leader The Bank of France raised its short-term growth estimate as activity improved in all sectors in June, indicating the economy will safely avoid a recession. The yuan advanced after China’s central bank signaled its comfort with the currency’s strength by setting the daily reference rate below 6.80 per dollar for the first time since 2023.

Docket
02:00 ET
German CPI
YoY – Forecast: 2.3% | Prior: 2.3% | Range: 2.6% / 2.3%
MoM – Forecast: -0.3% | Prior: -0.3% | Range: -0.2% / -0.3%
HICP YoY – Forecast: 2.4% | Prior: 2.4% | Range: 2.4% / 2.4%
HICP MoM – Forecast: -0.2% | Prior: -0.2% | Range: -0.2% / -0.2%

02:45 ET
French CPI
YoY – Forecast: 1.8% | Prior: 1.8% | Range: 1.8% / 1.8%
MoM – Forecast: -0.2% | Prior: -0.2% | Range: -0.2% / -0.2%
HICP YoY – Forecast: 2% | Prior: 2% | Range: 2% / 2%
HICP MoM – Forecast: -0.3% | Prior: -0.3% | Range: -0.3% / -0.3%

04:00 ET
IEA Monthly Report