Morning Juice – Europe Session Prep

Good Morning Traders.
It is Thursday the 16th of July. Here is what to look out for today.

Sentiment
The US launched more airstrikes on Iran Wednesday, after President Donald Trump pledged to intensify the bombardment until Tehran stops attacking ships in the Strait of Hormuz and agrees to open the waterway. Federal Reserve Chairman Kevin Warsh pushed back on commentary that surging investment into artificial intelligence is stoking inflation, saying the boom won’t necessarily lead to persistent price pressures. A measure of sterling’s strength rose to its highest level in a year on Wednesday following reports that incoming UK Prime Minister Andy Burnham will name Shabana Mahmood as his Chancellor of the Exchequer. Japanese Finance Minister Satsuki Katayama reiterated that she will pursue measures to encourage the Government Pension Investment Fund to invest more in domestic financial assets, while stressing she has no authority to step into the fund’s investment decisions. South Korea’s central bank raised interest rates for the first time in more than three years and Ragged the possibility of further increases as an artificial intelligence-driven chip boom helps fuel sticky inflation and faster-than-expected economic growth. Oil climbed for a fourth day as the US carried out another round of attacks on Iran in a bid to secure shipping through the Strait of Hormuz.

Docket
02:00 ET
UK GDP Estimate
MoM – Forecast: 0% | Prior: -0.1% | Range: 0.2% / -0.3%
3M/3M – Forecast: 0.5% | Prior: 0.7% | Range: 0.6% / 0.4%
UK Manufacturing Production
YoY – Forecast: 2% | Prior: 1% | Range: 2.4% / 1.4%
MoM – Forecast: -0.2% | Prior: 0.4% | Range: 0.3% / -0.7%
UK Industrial Production
YoY – Forecast: 1.3% | Prior: -0.2% | Range: 1.8% / 0.5%
MoM – Forecast: -0.1% | Prior: 0% | Range: 0.6% / -0.7%
UK Goods Trade Balance
Forecast: -23.1B | Prior: -26B | Range: -21.3B / -25.1B

03:30 ET
SNB Meeting Minutes