Morning Juice – Europe Session Prep
Good Morning Traders.
It is Friday, the 31st of July. Here is what to look out for today.
Sentiment
The BoJ left interest rates unchanged while raising its economic growth forecast, signaling confidence that the economy remains on track for further policy normalization after last month’s rate increase to the highest level since 1995.
Japanese authorities stopped short of confirming whether they intervened in the foreign exchange market following the Yen’s sharp rally, though officials suggested they had received support from international counterparts. US Treasury Secretary Bessent also described the Yen as “very undervalued,” saying excessive currency volatility is unhealthy and pointing to Japan’s strong economy and policy backdrop.
Oil prices edged lower at the end of a volatile week but remained on track for their biggest monthly gain since March as the conflict between the US and Iran continued to threaten global energy supplies.
Trump said the US-led Board of Peace had reached an agreement for Hamas to disarm, though uncertainty remains over the scope of the deal and officials indicated it is unlikely to be implemented immediately.
In Chile, officials gave mixed signals over the future of state-owned copper producer Codelco. The finance minister said private investment could be considered, while the company’s chair said there are no plans to take the miner public.
