Morning Juice – Europe Session Prep
Good morning, Traders.
It is Thursday, the 14th of November. Here is what to expect for the day.
Sentiment
Australia’s hiring gains slowed in October, yet the unemployment rate remained stable, highlighting the labour market’s resilience to rising interest rates.
China tried to bolster the under-pressure yuan for the second day in a row, using its daily reference rate for the controlled currency. The PBOC fixed the so-called yuan fixing at 7.1966 per dollar, which is around 359 pips higher than the average survey estimate. On Wednesday, the difference between the fixing and the estimate was 445 pips, the most since early August.
Oil prices steadied after falling to their lowest level this month on Wednesday, as a rising US dollar weighed on commodities and concerns about demand growth clouded the picture.
Traders increased their bets that the Fed will cut interest rates by another quarter point next month following in-line inflation figures, boosting gains for Treasury securities.
Events
03:30 ET
Dutch GDP QoQ Prelim SA
Median Forecast 0.2% | Prior 1%
05:00 ET
Eurozone GDP YoY Flash Estimate
Median Forecast 0.9% | Prior 0.9% | Range 1% | 0.7%
Eurozone GDP QoQ Flash Estimate
Median Forecast 0.4% | Prior 0.4% | Range 0.4% | 0.1%
Good luck!
