Morning Juice – Europe Session Prep

Good Morning Traders
It is Thursday, the 18th of July. Here is what to expect today.

Sentiment

The US economy increased at a moderate pace moving into the third quarter, with a number of regions reporting flat or declining activity, according to the Federal Reserve’s Beige Book study of regional business contacts.

Oil climbed higher, following the greatest daily advance in a month, as US crude stockpiles recorded their third consecutive weekly fall.

According to a former executive director at the Bank of Japan, the central bank is unlikely to hike interest rates this month and would instead reduce bond purchases somewhat more than projected to prevent stoking currency weakening.

The Federal Reserve is expected to lower interest rates in September in light of recent progress on inflation, but the move isn’t likely to represent the beginning of a full-fledged rate-cut cycle, according to the former head of the Fed’s Dallas office.

Docket
02:00 ET
UK Unemployment Rate
Median Forecast: 4.4% | Prior: 4.4% | Range: 2.1% / 1.8%

UK Unemployment Change
Median Forecast: 23.4k | Prior: 50.4k

Good luck!