Morning Juice – Europe Session Prep

Good Morning Traders
It is Thursday, the 1st August. Here is what to expect for today:

Sentiment

Federal Reserve Chair Jerome Powell indicated that central bank officials are on track to drop interest rates in September unless inflation growth pauses, citing risks of more labour market weakness.

Japanese equities plummeted, with the Topix index plunging the most since April 2020, as the yen’s gain impacted on exporters and the central bank’s interest rate hike drove down real estate shares.

Oil climbed after rising on Wednesday as Iran was believed to have ordered a retaliation strike against Israel for murdering a Hamas commander on its soil.

The US is mulling unilateral limitations on China’s access to AI memory chips and equipment capable of creating those semiconductors as early as next month, a move that would further exacerbate the tech rivalry between the world’s largest economies.

Docket

03:50 ET
French Manufacturing PMI
Median Forecast 44.1 | Prior 44.1 | Range 44.1/44.1

03:55 ET
German Manufacturing PMI
Median Forecast 42.6 | Prior 42.6 | Range 43.5/42.6

04:00 ET
Eurozone Manufacturing PMI
Median Forecast 45.6 | Prior 45.6 | Range 45.8/45.4

04:30 ET
UK Manufacturing PMI
Median Forecast 51.8 | Prior 51.8 | Range 51.8/51.7

05:00 ET
Eurozone Unemployment Rate
Median Forecast 6.4% | Prior 6.4% | Range 6.5%/6.4%

07:00 ET
BoE Bank Rate
Median Forecast 5.0% | Prior 5.25% | Range 5.25%/5.0%

Speakers

07:30 ET
BoE’s Press Conference w/ Gov. Bailey.

Good luck!