Morning Juice – Europe Session Prep

Good Morning Traders.
It is Tuesday the 5th of May. Here is what to look out for today.

Sentiment
The RBA’s nine-member policy committee opted to increase the cash rate to 4.35% from 4.1% by a vote of eight to one on Tuesday, unwinding all of last year’s cycle of monetary easing. The US and Iran exchanged fire in a flareup of violence on Monday that also drew in the United Arab Emirates, prompting calls for renewed strikes on Iranian targets and casting doubt on the fate of a four-week ceasefire. Iran attacked the United Arab Emirates for the first time in almost a month on Monday, as tensions between the US and Islamic Republic rose. Oil held the bulk of a sharp gain after fighting flared in the Middle East, with the US and Iran exchanging fire, renewed attacks on energy infrastructure, and vessels hit near the Strait of Hormuz. The Treasury Department said in a statement Monday that it now estimates $189 billion in net borrowing for April through June, up $80 billion from the $109 billion it had penciled in back in February.

Docket
02:30 ET
Swiss CPI
YoY – Forecast: 0.6% | Prior: 0.3% | Range: 0.7% / 0.5%
MoM – Forecast: 0.3% | Prior: 0.2% | Range: 0.4% / 0.2%