Morning Juice – Europe Session Prep

Good Morning Traders! This Thursday we get Euro Area and UK PMI numbers.

Here is what to expect for the day.

Sentiment

Earlier this month, Federal Reserve officials agreed to keep interest rates higher for longer, although “many” questioned whether the policy was restrictive enough to drive inflation down to their objective.

China’s daily yuan reference rate fell to a level not seen since January, as the dollar’s resurgence encouraged regulators to relinquish their hold on the currency.

Nvidia, the chipmaker at the centre of an artificial intelligence boom, rose in late trade after an optimistic sales forecast indicated that AI computer expenditure will stay high.

Service prices, a crucial component of Japan’s inflation figures, are continuing to rise, making it more likely that the Bank of Japan will take another step towards policy normalisation before too long.

Oil fell further after closing at its lowest level in three months on Wednesday, amid concerns that the Federal Reserve may keep interest rates higher for longer, potentially weighing on energy consumption.

Docket

03:15 ET
French Mfg PMI Flash
Median Forecast 45.9 | Prior 45.3 | Range 46.5/44.8

03:30 ET
German Services PMI Flash
Median Forecast 53.5 | Prior 53.2 | Range 54.0/52.0

German Mfg PMI Flash
Median Forecast 43.5 | Prior 42.5 | Range 44.5/42.5

German Composite PMI Flash
Median Forecast 51 | Prior 50.6 | Range 51.5/50.3

04:00 ET
Eurozone Mfg PMI Flash
Median Forecast 46.1 | Prior 45.7 | Range 47.0/45.5

04:30 ET
UK Services PMI Flash
Median Forecast 54.7 | Prior 55.0 | Range 55.5/53.0

UK Mfg PMI Flash
Median Forecast 49.5 | Prior 49.1 | Range 50.1/48.0

UK Composite PMI Flash
Median Forecast 54 | Prior 54.1 | Range 55.0/53.6

Good Luck today, traders!