Morning Juice – Europe Session Prep

Good Morning Traders.
It is Wednesday the 22nd of July. Here is what to look out for today.

Sentiment
Japanese financial authorities are ready to take action in the currency market if necessary, Minister of Finance Satsuki Katayama said, in comments that did little to support the beleaguered yen. The yen slid past 163 per dollar for the first time since 1986, extending its decline and further testing Japanese authorities’ resolve to intervene. Oil extended gains after President Donald Trump played down the prospect of near-term talks with Iran while threatening broader strikes, as risks to global supply spread beyond the Middle East to the Black Sea. President Donald Trump minimized the prospect of immediate talks with Iran as the two sides exchanged strikes and Houthi militants in Yemen threatened shipping in the Red Sea. Japan’s trade deficit unexpectedly widened in June as the weak yen inflated the value of imports and the war in Iran made oil more expensive. China’s unemployment among young people could be headed for levels last seen more than three years ago, as a record number of graduates prepare to enter the labor market at a time when AI is threatening to displace more entry-level jobs.

Docket
02:00 ET
UK CPI
YoY – Forecast: 2.7% | Prior: 2.8% | Range: 2.9% / 2.5%
MoM – Forecast: 0.1% | Prior: 0.2% | Range: 0.2% / 0%
Core YoY – Forecast: 2.5% | Prior: 2.6% | Range: 2.6% / 2.3%
PPI Output
YoY – Forecast: 3.5% | Prior: 4% | Range: 4.2% / 3.4%
MoM – Forecast: -0.2% | Prior: 0.5% | Range: 0.3% / -0.4%
PPI Input
YoY – Forecast: 8.2% | Prior: 8.7% | Range: 8.9% / 7.6%
MoM – Forecast: -0.8% | Prior: 0.2% | Range: 0% / -1.2%