Morning Juice – Europe Session Prep
Good Morning Traders.
It is Tuesday the 24th of June. Here is what to look out for today.
Sentiment
President Donald Trump announced Israel and Iran had agreed to what he called a “complete and total” ceasefire, easing fears that a conflict between the two adversaries might escalate Oil plunged as Iran’s retaliatory strikes on a US air base in Qatar were less severe than investors feared, allaying some concerns that the conflict would immediately disrupt supplies from the Middle East. Oil extended a slump as US President Donald Trump announced a tentative ceasefire between Iran and Israel Federal Reserve Vice Chair for Supervision Michelle Bowman warned the current approach to leverage ratio requirements has led to unintended consequences in the market while adding she could support lowering interest rates as soon as July The European Union and Canada have signed a security partnership that moves them closer to cooperation on military purchases, as Prime Minister Mark Carney aims to reduce his country’s dependence on the US for defense. UK Prime Minister Keir Starmer will vow to spend 5% of British economic output on security by 2035, embracing an ambitious NATO target sought by President Donald Trump without providing a path on how to get there.
Docket
04:00 ET
German IFO
Expectations – Forecast: 89.9, Prior: 88.9, Range: 91.4 / 87.7
Business Climate – Forecast: 88.0, Prior: 87.5, Range: 90.0 / 87.2
Current Conditions – Forecast: 86.5, Prior: 86.1, Range: 87.3 / 85.5
Speakers
04:00 ET
BoE Governor Andrew Bailey gives the opening remarks at a conference called Britain’s Return to the Gold Standard in 1925 Revisited.
05:30 ET
BoE’s Greene delivers a speech at the National Institute of Social and Economic Research in London. The speech is on “monetary policy implications of difference in central bank balance sheet management.”
07:15 ET
ECB’s de Guindos speaks at XLII APIE seminar organised by Association of Spanish Financial journalists and Universidad Menéndez Pelayo in Santander, Spain.
