Good Morning Traders! It is Monday 8th of May today, a UK bank holiday, with German Industrial Production at the forefront of the session.

Here is what to be aware of before today's session.


Treasury Secretary Janet Yellen warned that using the 14th Amendment would lead to a constitutional catastrophe and claimed that there are "simply no good options" other than Congress increasing the cap to resolve the debt limit impasse in Washington.

Klaas Knot, a member of the Governing Council, stated that the underlying inflation rate is "too high" and that the European Central Bank must continue hiking interest rates.

According to the minutes of the March policy meeting, a few Bank of Japan board members stated that the circumstances surrounding Japan's inflation have started to shift.

As Treasurer Jim Chalmers prepares to strengthen the central bank's attempts to peg back inflation, Australia may post its first budget surplus in 15 years, enhancing the center-left government's economic credentials.

After a period of erratic trading, oil prices stabilised as investors evaluated a complex forecast for global petroleum demand.


02:00 AM ET
German Industrial Production MoM
Median Forecast -1,5% | Prior 2.0% | Range -0.1%/-3.2%

German Industrial Production YoY SA
Median Forecast 1.8% | Prior 0.6% | Range 4.4%/0.3%


04:00 AM ET
ECB's Lane Speaks

05:30 AM ET
Germany's Economy Min. Lindner Speaks


Good Luck Today Traders!