Morning Juice – Europe Session Prep

Good Morning Traders.
It is Tuesday, the 4th of August. Here is what to look out for today.

Sentiment

Trump said his latest offer of talks is a “last chance” for Iran after he called off what he said was a major attack on the Islamic Republic.

Oil edged higher after its biggest drop in a week, as Trump said his latest offer of talks is Tehran’s last chance and that he expects a full reopening of the Strait of Hormuz.

Treasury Secretary Bessent’s call for the Fed to boost a facility that Japan can use to support its currency has put renewed attention on the ties between the two institutions, which typically operate at arm’s length.

The Yen held steady through the New York session, after a sharp advance earlier in the day that sparked speculation authorities may have intervened to support the currency again following last week’s coordinated action between the US and Japan.