Morning Juice – Europe Session Prep
Good Morning Traders! This Wednesday we get Services and Composite PMI numbers.
Here is what to expect for the day.
Sentiment
Japanese workers’ base pay increased by the most since 1994, indicating that corporate salary hikes are beginning to be implemented. However, market actors remain sceptical about the trend’s strength.
Hedge funds are reversing their bullish bets on the yen, according to market participants.
Australia’s economy prolonged a trend of lacklustre growth in the first three months of this year, as rising interest rates and cost of living pressures impacted on families.
Oil remained at a four-month low after an industry report indicated a rise in US oil stocks, adding to pessimistic mood reinforced by OPEC+’s pledge to enhance production.
Docket
03:55 ET
German Services PMI Final
Median Forecast: 53.9 | Prior 53.9 | Range 54.0/53.9
German Composite PMI Final
Median Forecast: 52.2 | Prior 52.2 | Range 52.3/52.2
04:30 ET
UK Services PMI Final
Median Forecast: 52.9 | Prior 52.9 | Range: 53.0/52.9
UK Composite PMI Final
Median Forecast: 52.8 | Prior 52.8 | Range 52.9/52.3
Good Luck today, traders!
