Morning Juice – Europe Session Prep

Good Morning Traders
It is Wednesday, the 17th of July. Here is what to expect today.

Sentiment

New Zealand inflation dropped more than expected to its worst in three years in the second quarter, despite persistent domestic pricing pressures.

Adriana Kugler, Federal Reserve Governor, said it would be appropriate to cut borrowing prices “later this year” if inflation continues to moderate while the labour market cools but remains resilient.

In a wide-ranging interview on business and the global economy, Donald Trump says that if elected, he will let Jerome Powell to complete his tenure as chairman of the Federal Reserve, which runs until May 2026. Trump wants to reduce corporate tax rates to as low as 15%. He would consider Jamie Dimon, JPMorgan’s chairman and CEO, to be secretary of the Treasury.

Oil prices recovered following a three-day slump as an industry estimate pointed to another fall in US oil stockpiles, easing fears about China’s weak demand outlook.

Municipal bond sales are increasing at the highest rate in weeks, as issuers focus on the prospect of lower borrowing costs amid rising anticipation that the Federal Reserve may begin decreasing interest rates as early as September.

Docket
02:00 ET
UK CPI YoY
Median Forecast: 1.9% | Prior: 2.0% | Range: 2.1% / 1.8%

UK Core CPI YoY
Median Forecast: 3.4% | Prior: 3.5% | Range: 3.6% / 3.3%

05:00 ET
Eurozone CPI YoY Final
Median Forecast: 2.5% | Prior: 2.5% | Range: 2.5% / 2.5%

Eurozone CPI MoM Final
Median Forecast: 0.2% | Prior: 0.2% | Range: 0.2% / 0.2%

Speakers
04:00 ET
RBA’s Simon Speaks

Good luck!