Morning Juice – Europe Session Prep

Good Morning Traders.
It is Monday, the 25th of May. Here is what to look out for today.

Sentiment

Senior US officials indicated Sunday that the US and Iran are close to reaching an agreement to reopen the Strait of Hormuz, despite Trump’s insistence that he would not “rush” into a deal.

Oil prices fell as the US and Iran moved closer to a settlement, however Trump stated that Washington’s blockade of the Strait of Hormuz would remain in place until an agreement was reached.

The ECB is poised to boost its inflation outlook when policymakers meet next month, according to President Lagarde.

Kevin Hassett, President Trump’s chief economic adviser at the White House, expressed confidence that an eventual drop in oil prices will allow the Fed to lower interest rates.

China has launched an unprecedented campaign against unlawful cross-border trading to stop capital outflows, threatening hefty penalties on popular brokers and demanding non-compliant accounts to be closed within two years.