Morning Juice – Europe Session Prep
Good Morning Traders
It is Wednesday the 4th September, here is what to expect for the day.
Sentiment
Throughout the three months leading up to June, Australia’s economy remained lacklustre as consumers braced themselves against high borrowing prices and persistently sticky inflation.
Amidst fresh worries about overheating in the artificial intelligence boom, Asian semiconductor-related stocks fell, setting regional indexes up for their largest declines in a month. Analyst remarks suggesting AI companies have outperformed the technology in terms of potential profitability were the latest source of concern.
The US Justice Department escalated its probe into the leading supplier of AI chips by sending subpoenas to Nvidia and other businesses in an attempt to gather proof that the chipmaker broke antitrust rules.
Following an almost 5% fall on Tuesday, oil prices declined as worries about global demand and OPEC+’s intention to increase output starting in October resurfaced. This was due to the potential abatement of political upheaval in Libya.
Docket
03:55 ET
German Services PMI Final
Median Forecast 51.4 | Prior 51.4 | Range 51.5/51.4
German Composite PMI Final
Median Forecast 48.5 | Prior 48.5 | Range 48.5/48.5
04:30 ET
UK Services PMI Final
Median Forecast 53.3 | Prior 53.3 | Range 53.5/53.1
UK Composite PMI Final
Median Forecast 53.4 | Prior 53.4 | Range 53.6/53.4
Speakers
03:00 ET
ECB’s Elderson Speaks
07:00 ET
ECB’s Villeroy Speaks
Good luck!
