Morning Juice – Europe Session Prep

Good Morning Traders! This Monday we see a UK and US bank holiday, with German IFO data for the session.

Here is what to expect for the day.

Sentiment

Governor of the Bank of Japan, Kazuo Ueda, has stated that the central bank will proceed with caution in order to keep inflation expectations at 2%. According to Ueda, several difficulties are particularly onerous for the BoJ when compared to worldwide competitors. Bank of Japan Deputy Governor Shinichi Uchida thinks the end of the war with deflation is in sight, but the biggest task ahead is anchoring inflation expectations at 2%.

In a display of solidarity followed by a warning of future escalation, the Group of Seven finance chiefs harshly criticised China’s participation in the global system of commerce.

According to a former member of the Bank of Japan’s policy board, the central bank has the potential to raise its benchmark rate to as high as 0.5% by the end of the year provided economic circumstances remain relatively stable.

Oil has stabilised following its largest weekly drop in four, with the emphasis on a OPEC+ supply meeting on Sunday and US demand at the start of the summer driving season.

Docket

04:00 ET
German IFO Expectations
Median Forecast 90.5 | Prior 89.9  | Range 92.0/90.0

German IFO Current Conditions
Median Forecast 89.5 | Prior 88.9 | Range 90.2/89.0

German IFO Business Climate
Median Forecast 90 | Prior 89.4 | Range 91.0/89.4

Good Luck today, traders!