Morning Juice – Europe Session Prep

Good Morning Traders! This Thursday we get the BoE Bank Rate Decision as well as PMI data.

Here is what to expect for the day.

Sentiment

Australian employment increased last month as the unemployment rate fell, demonstrating the labour market’s resilience under tight monetary policy.

Governor Kazuo Ueda stated that the Bank of Japan recognised the risk of having to increase interest rates swiftly if it waited too long to halt the bank’s huge easing programme, which drove the board to make that action on Tuesday.

The yen rose for the first time in eight days as investors assessed the prospects for interest rates in Japan and the United States. A Nikkei story stated that the BoJ was seen mulling more interest-rate rises, without naming the source of the information.

Japan’s exports increased for the third month in a row, thanks to strong auto sales, providing economic support as domestic demand remained uneven.

Oil advanced as US inventories declined and the Fed signalled that it will lower interest rates this year, boosting risk appetite across global markets and damaging the dollar.

Docket

04:15 ET
French Mfg PMI Flash
Median Forecast 47.5  | Prior 47.1 | Range 48.3/46.0

04:30 ET
Swiss Interest Rate
Median Forecast 1.75% | Prior 1.75% | Range 1.75%/1.50%

German Mfg PMI Flash
Median Forecast 43 | Prior 42.5 | Range 46.0/41.5

German Services PMI Flash
Median Forecast 48.8 | Prior 48.3 | Range 49.5/47.7

German Composite PMI Flash
Median Forecast 47   | Prior 46.3 | Range 47.5/45.9

05:00 ET
Eurozone Mfg PMI Flash
Median Forecast 43 | Prior 42.5 | Range 48.0/46.5

05:30 ET
UK Mfg PMI Flash
Median Forecast 47.8 | Prior 47.5 | Range 48.0/47.5

UK Services PMI Flash
Median Forecast 53.8 | Prior 53.8 | Range 54.5/52.5

UK Composite PMI Flash
Median Forecast 53.1 | Prior 53.0 | Range 53.5/52.4

08:00 ET
BoE Bank Rate
Median Forecast 5.25% | Prior 5.25% | Range 5.25%/5.0%

BoE Monetary Policy Summary

Speakers

04:00 ET
ECB Bank Supervisor Buch Speaks

05:00 ET
SNB Press Conference w/ Chair Jordan

Good Luck today, Traders!