Morning Juice – Europe Session Prep

Good morning Traders.
It is Wednesday the 25th of June. Here is what to look out for today.

Sentiment
Federal Reserve Chair Jerome Powell had plenty of opportunities Tuesday to tell lawmakers definitively the central bank will cut interest rates soon, he didn’t take any of them. Israel and Iran appeared to be honoring a ceasefire agreement unexpectedly announced by Donald Trump overnight, after the US president reacted angrily to reports of early breaches of the deal by both sides. Fed’s Kashkari said the US central bank needs more clarity on how tariffs will impact prices before adjusting policy, even as recent inflation data has been “quite positive.” Fed’s Williams said it’s “entirely appropriate” for officials to hold interest rates steady while they analyze the full impact of policy changes on the jobs market and inflation. Fed’s Schmid said the US central bank should wait to see how tariffs and other policies impact the economy before adjusting interest rates. Oil edged higher – after posting the biggest two-day decline since 2022 – as traders assessed the Iran-Israel ceasefire, and an industry report that pointed to another drop in US crude stockpiles.

Docket
All Day
NATO Summit in which Trump will be in attendance.