Morning Juice – Europe Session Prep

Good Morning Traders.
It is Monday the 20th of July. Here is what to look out for today.

Sentiment
The US and Iran engaged in a quickening series of tit-for-tat attacks, with the American military conducting a wave of strikes on the Islamic Republic following the deaths of service personnel. Brent crude jumped above $90 a barrel after the US and Iran escalated hostilities, including the targeting of vessels attempting to transit the Strait of Hormuz and an attack on a key oil facility in Kuwait over the weekend. Andy Burnham is set to become the UK’s seventh prime minister in just over a decade on Monday with a number of outstanding questions about who will be in his cabinet and the policy direction he will pursue. Bond traders and Federal Reserve Chairman Kevin Warsh are in agreement on a crucial point: The central bank’s fight against inflation still seems far from over.

Docket
02:00 ET
German PPI
YoY – Forecast: 1.8% | Prior: 2.2% | Range: 2.5% / 1.5%
MoM – Forecast: -0.3% | Prior: 0.3% | Range: 0.4% / -0.6%