Morning Juice – Europe Session Prep

Good Morning Traders.
It is Tuesday the 8th of September. Here is what to look out for today.

Sentiment
The yen is closing in on its strongest level this year after a break through 155 per dollar triggered stop-loss orders, putting the 152 area firmly in traders’ sights. Australia’s consumer confidence slumped back toward deeply pessimistic territory in September, spurred by household concerns that the Reserve Bank will resume raising interest rates as well as higher fuel costs. Oil held gains near $100 a barrel as traders watched for details of an Iranian deal with Oman to manage shipping through the Strait of Hormuz, while strong Chinese buying tightened the market. A liquefied natural gas tanker that loaded in Qatar early last month has sailed through the Strait of Hormuz, the first visible exit of the country’s LNG via the waterway since July. Japanese workers’ nominal wages rose at the fastest pace in nearly three decades on the back of strong corporate earnings and a tight labor market, in data likely to keep the Bank of Japan on course for further monetary tightening.