Morning Juice – Europe Session Prep

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

Sentiment
Oil rose for a third day as President Donald Trump threatened further strikes on Iran, hours after the US resumed its blockade on the Islamic Republic’s shipping through the Strait of Hormuz. The US ramped up economic sanctions on Iran and resumed a military blockade against the country after negotiations between the two nations broke down following renewed attacks in the Strait of Hormuz. Mounting futures bets on a Federal Reserve interest-rate increase as soon as this month were derailed on Tuesday as a soft inflation report pushed expectations for a hike out to later this year. Federal Reserve Chairman Kevin Warsh said slowing inflation in June doesn’t mean it’s mission accomplished – and for the first time since taking office he hinted at how the central bank may eventually have to respond. Bank of England Governor Andrew Bailey said Britain needs to prioritize economic growth and maintain fiscal discipline, in a thinly veiled warning to incoming Prime Minister Andy Burnham.

Docket
05:00 ET
Eurozone Industrial Production
YoY – Forecast: -0.4% | Prior: 0.3% | Range: 1.4% / -0.9%
MoM – Forecast: 0.3% | Prior: 0.1% | Range: 1% / -0.2%