Morning Juice – Europe Session Prep
Good Morning Traders.
It is Friday the 21st of August. Here is what to look out for today.
Sentiment
Treasury Secretary Scott Bessent said that he’s prepared to expand efforts to buy back costlier debt and that the administration will be unveiling a new fiscal initiative to address the highest borrowing costs in years. Japan’s key price gauge accelerated for a second month, keeping the Bank of Japan on track for another near-term interest rate hike as market speculation builds over a move as soon as September. Oil headed for a substantial weekly gain, as a US push to isolate Iran’s economy raised the specter of further market disruption. Treasury Secretary Scott Bessent’s bold intervention to stem a potentially damaging rise in US borrowing costs has some investors saying the dollar will ultimately pay the price. Bitcoin rose by more than 4% in early Asia trading Friday, continuing a tear that began Wednesday after the US Treasury revealed plans to rein in long-term bond yields. Samsung Electronics Co. plans to return as much as 110 trillion won ($79 billion) to shareholders, joining rival SK Hynix Inc. in handing investors a chunk of the windfall generated by the AI rush.
Docket
02:00 ET
UK Retail Sales
YoY – Forecast: 2.2% | Prior: 4.2% | Range: 4% / 1.4%
MoM – Forecast: -0.5% | Prior: 1% | Range: 0.2% / -1.2%
Core YoY – Forecast: 3.3% | Prior: 5.4% | Range: 4% / 2.3%
Core MoM – Forecast: -0.5% | Prior: 1.1% | Range: 0.3% / -1.5%
02:45 ET
French Business Climate
Overall – Forecast: 98 | Prior: 97 | Range: 98 / 96
Manufacturing – Forecast: 101 | Prior: 101 | Range: 103 / 100
03:15 ET
French PMI’s
Services – Forecast: 49.4 | Prior: 49.6 | Range: 50.5 / 47.6
Composite – Forecast: 49.5 | Prior: 49.4 | Range: 50.5 / 47.7
Manufacturing – Forecast: 50 | Prior: 49.8 | Range: 51 / 49.3
03:30 ET
German PMI’s
Services – Forecast: 50.1 | Prior: 49.8 | Range: 50.7 / 49.3
Composite – Forecast: 51.3 | Prior: 51.3 | Range: 51.7 / 50
Manufacturing – Forecast: 52.1 | Prior: 52.2 | Range: 52.7 / 51
04:00 ET
Eurozone PMI’s
Services – Forecast: 51.5 | Prior: 51.7 | Range: 52.2 / 49.2
Composite – Forecast: 51.7 | Prior: 52 | Range: 52.5 / 51.3
Manufacturing – Forecast: 51.8 | Prior: 51.9 | Range: 52.5 / 51
04:30 ET
UK PMI’s
Services – Forecast: 51.8 | Prior: 52.1 | Range: 52.6 / 50.6
Composite – Forecast: 51.6 | Prior: 52.2 | Range: 3% / 2.7%
Manufacturing – Forecast: 51.5 | Prior: 51.9 | Range: 52.4 / 51
05:00 ET
ECB Negotiated Wages
