Morning Juice – Europe Session Prep
Good Morning Traders.
It is Thursday the 20th of August. Here is what to look out for today.
Sentiment
Australia’s unemployment rate unexpectedly rose in July, supporting the Reserve Bank’s view that the labor market is likely to gradually loosen and prompting traders to pare bets on another interest-rate increase. China is using new legal powers to block European Union scrutiny of alleged state support for its companies, adding friction ahead of an October deadline to resolve outstanding trade disputes. JPMorgan Chase & Co. strategists warned that markets may view the US Treasury’s surprise effort to curb long-term borrowing costs as lacking credibility, potentially pushing up the term premium and yields over time. President Donald Trump announced plans to inflict what he called “an ECONOMIC D-DAY” against Iran, underscoring his rising frustration with the country’s refusal to capitulate despite weeks of military strikes and a US blockade that’s crimped its oil exports. The tentative trade deal between the US and Canada would lower tariffs on certain Canadian exports of steel and aluminum to 25% and cut duties on Canadian auto exports to 15%, according to people familiar with the matter.
Docket
02:00 ET
German PPI
YoY – Forecast: 2.5% | Prior: 1.8% | Range: 2.9% / 1.8%
MoM – Forecast: 0.6% | Prior: -0.3% | Range: 1% / -0.1%
06:00 ET
UK CBI Orders
Forecast: -40 | Prior: -45 | Range: -40 / -45
