Morning Juice – Europe Session Prep
Good morning, Traders.
It is Thursday, the 31st of October, here is what to expect for the day.
Sentiment
According to Governing Council member Joachim Nagel, the European Central Bank can afford to cut interest rates gradually and authorities should continue to closely monitor new facts.
After five months of recession, China’s factory activity unexpectedly increased, indicating that recent stimulus measures may have started to accelerate growth.
As the economy continued its stuttering recovery and authorities watched events with anxiety, Japan’s factory output increased more than anticipated in September as auto output improved.
The Chancellor of the Treasury In her first budget in over ten years, Rachel Reeves pledged that austerity would be lifted and economic stagnation would be broken. The party will need to win another election to reap the benefits of the plan she presented because it will take so long.
In an attempt to disassociate herself from a developing controversy that could jeopardise her momentum in the last week of campaigning, Vice President Kamala Harris stated that she “strongly” disagreed with remarks made by President Joe Biden that Republicans have taken to be offensive to Donald Trump’s supporters.
Events
03:45 ET
French PPI YoY
Prior -6.3%
French CPI YoY NSA Prelim
Median Forecast 1.1% | Prior 1.1% | Range 1.2%/1.0%
French CPI MoM NSA Prelim
Median Forecast 0.2% | Prior -1.2% | Range 0.3%/0.0%
06:00 ET
Eurozone Unemployment Rate
Median Forecast 6.4% | Prior 6.4% | Range 6.5%/6.3%
Eurozone Core CPI YoY Flash
Median Forecast 2.6% | Prior 2.7% | Range 2.7%/2.4%
Eurozone CPI YoY Flash
Median Forecast 0,9% | Prior 0.7% | Range 1.5%/0.7%
Good luck!
