Morning Juice – Europe Session Prep

Good Morning Traders! This Tuesday we get Euro Area PMI, on top of earnings.

Here is what to expect for the day.

Sentiment

Oil prices were little changed after a minor loss as traders pondered the next moves between Israel and Iran despite signs of softening hostilities following a tit-for-tat exchange of attacks last week.

The Bank of Japan is generally anticipated to keep its benchmark interest rate steady on Friday, with investors looking for any signals of a less dovish bent as the yen trades near a 34-year low.

Legislation urging Joe Biden to tighten sanctions on Iranian crude oil is expected to become law as early as this week. However, don’t anticipate the president to fully exercise his new powers anytime soon.

Gold continued losses following its worst daily decrease in almost two years, with easing tensions in the Middle East and signals that the Federal Reserve may keep rates higher for longer limiting demand.

Docket

03:15 ET 
French Mfg PMI Flash
Median Forecast 46.8 | Prior 46.2 | Range 47.2/46.0

03:30 ET 
German Services PMI Flash
Median Forecast 50.5 | Prior 50.1 | Range 51.0/49.5

German Mfg PMI Flash
Median Forecast 42.7 | Prior 41.9 | Range 44.0/41.7

German Composite PMI Flash
Median Forecast 48.4 | Prior 47.7 | Range 49.5/47.4

04:00 ET
Eurozone Mfg PMI Flash
Median Forecast 46.5 | Prior 46.1 | Range 47.3/45.6

04:30 ET 
UK Services PMI Flash
Median Forecast 53 | Prior 53.1 | Range 53.5/52.3

UK Mfg PMI Flash
Median Forecast 50.4 | Prior 50.3 | Range 51.0/49.0

UK Composite PMI Flash
Median Forecast 52.6 | Prior 52.8 | Range 53.1/51.8

Good Luck today, Traders!