Morning Juice – Europe Session Prep
Good Morning Traders! This Friday we get UK PMI to cap out the week.
Here is what to expect for the day.
Sentiment
Bond traders pushed the Federal Reserve’s first complete interest-rate decrease to November, ahead of a major US employment data on Friday.
According to Chief Economist Philip Lane, the European Central Bank will approach monetary policy decisions meeting by meeting.
Oil is poised for its largest weekly loss since February on indications of weakening demand, prompting speculation that OPEC+ could extend supply curbs to prop up prices.
Money-market fund assets surpassed $6 trillion for the first time in three weeks on expectations that short-term rates would continue high after Federal Reserve governors said they are not in a hurry to normalise monetary policy.
Docket
04:30 ET
UK Services PMI Final
Median Forecast 54.,9 | Prior 54.9 | Range 55.1/54.6
UK Composite PMI Final
Median Forecast 54.0 | Prior 54.0 | Range 54.2/53.8
05:00 ET
Eurozone Unemployment Rate
Median Forecast 6.5% | Prior 6.5% | Range 6.6%/6.5%
Good Luck today, Traders!
