Morning Juice – Europe Session Prep

Good Morning Traders.
It is Monday the 15th of June. Here is what to look out for today.

Sentiment
The US and Iran said they reached an interim agreement to reopen the Strait of Hormuz, halting a war that killed thousands of people and setting the stage for 60 days of negotiations on the fate of the country’s nuclear program. Oil sank after the US and Iran agreed to an interim deal to end their war, potentially allowing the Strait of Hormuz to reopen The Bank of Japan is widely expected to raise its benchmark interest rate to the highest level since 1995 at the first regular policy meeting ever held without the governor in attendance Treasuries advanced across the curve as investors dialed back expectations for Federal Reserve interest-rate hikes following news of a deal to end the Iran war. Speculators have boosted their bets against the yen to a nine- year high, signaling the revival of the yen carry trade despite intervention risks and a potential rate hike by the Bank of Japan on Tuesday. China’s consumer spending may have contracted for the first time since the pandemic, a setback that would extend a slowdown in an economy whose momentum is faltering despite booming trade.

Docket
05:00 ET
Eurozone Industrial Production
YoY – Forecast: 0.4% | Prior: -2.1% | Range: 1% / 0.2%
MoM – Forecast: 0.2% | Prior: 0.2% | Range: 0.6% / -0.6%