Morning Juice – Europe Session Prep

Good Morning Traders
It is Thursday the 22nd August, here is what to expect for the day.

Sentiment

During their meeting on July 30-31, a number of Federal Reserve officials admitted that there was a case to be made for lowering interest rates. However, the policy committee of the central bank unanimously decided to maintain current rates.

Beijing will continue to tighten down on speculative trading in longer-dated bonds, according to a senior official at a Chinese regulatory organisation. However, the source hinted that officials are not trying to limit yields as some had thought.

After leaving the Middle East late on Tuesday, US Secretary of State Antony Blinken left with Hamas and Israel still at odds over an American proposal to temporarily, if not permanently, stop the fighting in Gaza.

With her hawkish stance, Australia’s central bank boss Michele Bullock is finding it difficult to win over money markets and economists, indicating that the Reserve Bank still needs to restore its reputation that it lost during the pandemic.

Key payroll data was obtained by at least three banks on Wednesday, but the remainder of Wall Street was forced to wait for thirty minutes due to a government delay that caused havoc on trading desks and whipsawed markets.

Despite the boost from declining stocks, worries over a US recession kept oil prices steady near their lowest closing since January.

Docket

03:15 ET
French Mfg PMI Flash
Median Forecast 44.5 | Prior 44.0 | Range 45.2/43.5

03:30 ET
German Mfg PMI Flash
Median Forecast 43.4 | Prior 43.2 | Range 44.5/42.7

German Services PMI Flash
Median Forecast 52.3 | Prior 44.0 | Range 53.5/51.5

German Composite PMI Flash
Median Forecast 49.2 | Prior 49.1 | Range 50.0/48.5

04:00 ET
Eurozone Mfg PMI Flash
Median Forecast 45.8 | Prior 45.8 | Range 47.0/41.8

04:30 ET
UK Mfg PMI Flash
Median Forecast 52.2 | Prior 52.1 | Range 53.1/51.0

UK Services PMI Flash
Median Forecast 52.8 | Prior 52.5 | Range 54.5/52.0

UK Composite PMI Flash
Median Forecast 53.0 | Prior 52.8 | Range 54.6/52.2

07:30 ET
ECB Meeting Minutes

Good luck!