Morning Juice – Europe Session Prep

Good Morning Traders.
It is Tuesday the 3rd of March. Here is what to look out for today.

Sentiment
Oil extended gains as the US and Israel stepped up their war against Iran, while Tehran threatened a full closure of the Strait of Hormuz. The US sent conflicting messages about how long a war with Iran might last as Israel launched new airstrikes on Monday, with the widening conflict reverberating across the Middle East and upending energy markets. For decades, China’s leaders have failed to heed calls to rebalance the economy toward consumption as they pursued an investment-heavy, export-oriented growth strategy. Australia’s central bank chief Michele Bullock issued a warning Tuesday that the interest-rate setting board’s patient approach to inflation has its limits and that policy could be tightened again as soon as two weeks’ time. Inflation is re-emerging as the crucial worry in the $30 trillion Treasuries market as investors see the risk of a protracted conflict in the Mideast that keeps crude prices elevated.

Docket
05:00 ET
Eurozone CPI
YoY – Forecast: 1.7% | Prior: 1.7% | Range: 1.9% / 1.6%
MoM – Forecast: 0.5% | Prior: -0.6% | Range: 0.7% / 0.2%
Core YoY – Forecast: 2.2% | Prior: 2.2% | Range: 2.3% / 2%