Morning Juice – Europe Session Prep

Good Morning Traders.
It is Monday, the 3rd of August. Here is what to look out for today.

Sentiment

The US and Japan warned jittery currency markets of further coordinated action after confirming their first joint intervention in 15 years, a move that lifted the Yen from levels near a four-decade low.

Treasury Secretary Bessent said the US stepped in to help fight “disorderly” movements in the Yen and is ready to keep helping Japan, while Trump said the currency-market intervention was a sign of friendship with Tokyo. Bessent’s championing of a Fed facility Japan can use to boost the Yen comes with the added benefit of protecting the US bond market from excess sales.

The US Treasury has limited liquid resources to support further coordinated currency intervention alongside Japan, though its firepower could be expanded substantially if officials resort to more extraordinary measures, according to JPMorgan.

Oil fell after Trump said new talks with Iran would begin on Monday after he called off a planned attack on the Islamic Republic.