Morning Juice – Europe Session Prep

Good Morning Traders! This Wednesday we get UK CPI data.

Here is what to expect for the day.

Sentiment

The yen plummeted to its lowest level versus the euro since 2008 on expectations that the Bank of Japan will maintain its monetary policy accommodative even after ending the world’s last negative-interest-rate programme on Tuesday.

Now that Japan has raised interest rates for the first time since 2007, investors and economists are divided about how long it will take until the central bank opts for another increase.

Chinese banks kept their benchmark lending rates on Wednesday, following the central bank’s recent decision to hold quo on monetary policy.

Australia’s government and opposition are at odds over the form of the Reserve Bank’s new monetary policy committee, threatening to derail legislation needed to revamp the institution.

The prospect that central banks are poised to start on the most synchronised decrease of interest rates since 2008 appears destined to bolster the dollar in its embryonic recovery.

Oil has stabilised after a two-day increase as an industry group. Ragged a reduction in US crude stocks, and traders counted down to the Federal Reserve’s interest rate announcement.

Docket

03:00 ET
UK CPI YoY
Median Forecast 3.5% | Prior 4.0% | Range 3.7%/2.7%

UK Core CPI YoY
Median Forecast 4.6% | Prior 5.1% | Range 4.8%/4.3%

Speakers

04:45 ET
ECB’s Pres. Lagarde Speaks

05:30 ET
ECB’s Lane Speaks

08:00 ET
ECB’s de Cos Speaks

Good Luck today, Traders!