Morning Juice – Europe Session Prep
Good Morning Traders! This Friday we get German Industrial Production and Eurozone GDP.
Here is what to expect for the day.
Sentiment
China’s exports increased faster than predicted in May, raising confidence that the world’s second-largest economy can sustain its momentum by depending on overseas markets.
Japanese Minister of Finance Shunichi Suzuki believes authorities should resort to currency intervention on a limited basis, while recognising that they need to smooth out market movements on occasion.
More than half of polled Bank of Japan observers expect the central bank to reduce its government bond purchasing when policymakers meet next week, with an increasing proportion also looking forward to a rate rise in July.
A surge of yuan offshore is disturbing a recent dynamic in the forward market, giving fuel to the allegation that officials are releasing their hold on the controlled currency to enable it to drop.
Docket
02:00 ET
German Industrial Production YoY SA
Median Forecast: -3% | Prior -3.35% | Range -2.4%/-4.1%
German Industrial Orders MoM
Median Forecast: 0.2% | Prior -0.4% | Range 1.4%/-1.5%
05:00 ET
Eurozone GDP Revised YoY
Median Forecast: 0.4% | Prior 0.4% | Range:0.4%/0.3%
Eurozone GDP Revised QoQ
Median Forecast: 0.3% | Prior 0.3% | Range 0.4%/0.3%
Good Luck today, traders!
