Morning Juice – Europe Session Prep

Good Morning Traders.
It is Wednesday the 29th of April. Here is what to look out for today.

Sentiment
President Donald Trump told his aides to prepare for an extended US Naval blockade of the Strait of Hormuz, the Wall Street Journal reported, as the US looks to intensify economic pressure on Iran as the war enters its third month Australia’s inflation remained above the Reserve Bank’s 2-3% target band as higher fuel costs from Middle East supply disruptions compounded already-elevated price pressures to keep policymakers on a tightening path The shock decision by the United Arab Emirates to quit OPEC blindsided its partners of six decades. Now the cartel will have to fight to stay relevant in a fast-shifting global oil market. Keir Starmer finished a day of parliamentary scrutiny into the Peter Mandelson saga in a better place than he started it, although the prime minister’s job may only be safe until a set of high-stakes local elections next week. The UK could slip into recession later this year and be forced to hike interest rates aggressively to contain inflation if the Middle East crisis worsens, the National Institute of Economic and Social Research warned.