Morning Juice – Europe Session Prep
Good morning, Traders!
It is Friday, the 10th of January. Here is what to expect for the day.
Sentiment
China’s central bank announced that it will stop buying government bonds, in its latest attempt to cool investor wagers on slowing economic growth, which have weakened the currency and eroded corporate and consumer confidence.
Japan’s households reduced consumption for the fourth month in a row as inflation continued to erode their purchasing power, indicating economic fragility that would likely keep the BoJ cautious about further rate hikes.
Employers in the US most certainly added a strong number of jobs in December, and the unemployment rate remained constant, demonstrating a labour market that defied fears of a steeper recession for another year.
Traders are on watch for a greater danger of Japan intervening to boost the Yen, with a US employment report later Friday looming as a possible catalyst for strong movements in the currency.
Good luck!
