Morning Juice – Europe Session Prep

Good Morning Traders.
It is the 28th of May. Here is what to look out for today.

Sentiment
The US carried out airstrikes on an Iranian military site and imposed new sanctions to prevent Tehran from profiting from vessels transiting the Strait of Hormuz, highlighting the fragility of recent diplomatic momentum. Oil advanced, following a drop of more than 5% on Wednesday, as US forces made fresh strikes in the Islamic Republic, while Washington and Tehran remained at odds over how to reopen the Strait of Hormuz. President Donald Trump asserted that no one nation would control the vital Strait of Hormuz waterway, highlighting a key sticking point in resolving the war with Iran. Federal Reserve Vice Chair Philip Jefferson said he expects inflation to cool later this year as the effects of tariffs and higher energy costs wear off, though he warned inflationary risks remain tilted to the upside. Federal Reserve Bank of Chicago President Austan Goolsbee repeated that increased investment and spending due to a projected surge in future productivity growth may be inflationary and require higher interest rates from the US central bank.

Docket
07:30 ET
ECB Meeting Minutes

Speakers
03:10 ET
ECB’s Pres. Lagarde gives opening remarks at 28th meeting of Francophone Central Bank Governors in Phnom Penh, Cambodia. The text will be made available on the ECB’s website.

04:30 ET
ECB’s Cipollone gives speech followed by Q&A at Euro Digitale e SovranitaEuropea organized by Istituto Affari Internazionali in Rome. The text will be made available on the ECB’s website.