Morning Juice – Europe Session Prep

Good Morning Traders.
It is Monday the 27th of April. Here is what to look out for today.

Sentiment
The Iran plan, conveyed through mediators in Pakistan, calls for extending the ceasefire so the parties can work toward a permanent end to the fighting, Axios said. Nuclear talks would come later, only after a US blockade of the Strait of Hormuz is lifted. Oil rose after efforts to resume peace talks over the Iran war stalled, with the Strait of Hormuz remaining virtually impassable, extending disruptions in the Middle East that have roiled global markets. Goldman Sachs lifted its oil-price forecasts as the prolonged closure of the Strait of Hormuz spurs “extreme” inventory draws. The Bank of Japan is widely expected to keep interest rates unchanged on Tuesday, setting up a communication challenge for Governor Kazuo Ueda as the foundering yen hovers near levels that have prompted past interventions. Economists have sharply upgraded their forecasts for China’s import growth and now expect it to overtake the pace of expansion in exports for the first time since 2021, keeping the trade balance from ballooning much beyond last year’s record.

Docket
03:00 ET
German GFK Consumer Sentiment
Forecast: -30 | Prior: -28 | Range: -27 / -35

06:00 ET
UK CBI Distributive Trades
Forecast: -40 | Prior: -52 | Range: -40 / -45