Morning Juice – Europe Session Prep

Good Morning Traders.
It is Tuesday the 2nd of June. Here is what to look out for today.

Sentiment
Oil steadied after its biggest gain in about a month, as uncertainty about the state of US-Iran peace talks raised the risk that energy flows from the Persian Gulf could be curtailed for longer. Traders are betting the US dollar will rise in the weeks ahead, supported by lingering uncertainty over US-Iran talks and the AI- fueled rally in the stock market
President Donald Trump and Israeli Prime Minister Benjamin Netanyahu offered differing accounts of a call about the fighting in Lebanon, as the US struggled to get efforts toward an Iran peace deal back on track. Japanese Finance Minister Satsuki Katayama said authorities are always ready to take steps as needed on currencies – days after the release of data showing that authorities conducted a record spate of currency intervention in the period between late April and late May. Australia’s longer-term inflation expectations have edged higher, with financial markets now anticipating consumer prices will remain above the Reserve Bank’s target for an extended period – a shift not seen in years, according to RBA board member Ian Harper.

Docket
04:30 ET
BoE Consumer Credit
Forecast: 1.7B | Prior: 1.9B | Range: 1.8B / 1.6B
UK Mortgage
Lending – Forecast: 5.4B | Prior: 6.2B | Range: 5.5B / 4.2B
Approvals – Forecast: 62K | Prior: 63.5K | Range: 65.5K / 57.5K

05:00 ET
Eurozone CPI
YoY – Forecast: 3.2% | Prior: 3% | Range: 3.5% / 3%
MoM – Forecast: 0.1% | Prior:1% | Range: 0.9% / 0%
Core YoY – Forecast: 2.4% | Prior: 2.2% | Range: 2.6% / 2.2%