Morning Juice – Europe Session Prep

Good Morning Traders.
It is the 14th of July. Here is what to look out for today.

Sentiment
Brent oil rose above $85 a barrel for the first time in a month, as US President Donald Trump reimposed a blockade on Iranian ships transiting the Strait of Hormuz and demanded payment for all other cargo. President Donald Trump just threw out a demand of a 20% reimbursement on cargo shipped through the Strait of Hormuz, or roughly $30 million on full supertankers carrying oil. New Zealand inflation may not slow as quickly as the Reserve Bank forecasts. Chief Economist Paul Conway said Tuesday, suggesting further interest-rate increases may be in prospect. Japan’s finance minister floated the idea of adding government bonds to a tax-free investment program for individuals and said the nation’s massive pension fund will adjust its holdings if needed, stepping up efforts to attract cash to domestic markets as the yen weakens. Bond traders ramped up bets for a July interest-rate hike ahead of US inflation data and an appearance by the head of the Federal Reserve that stand to reinforce the need for action. Europe’s executive arm is weighing more impactful changes to its banking rulebook after initial proposals for its competitiveness package prompted criticism from the industry and some jurisdictions.