Morning Juice – Europe Session Prep

Good Morning Traders.
It is Tuesday the 11th of August. Here is what to look out for today.

Sentiment
US President Donald Trump made sweeping new demands on Iran after Tehran reiterated requests for reparations as part of talks to wind down the conflict, dimming hopes of a quick deal that would reopen the Strait of Hormuz. Federal Reserve Bank of Cleveland President Beth Hammack said it’s possible a number of interest rate hikes may be needed to bring inflation down to the central bank’s 2% target, but she does not want to prejudge what the end point will be. Gold advanced to a two-month high above $4,400 an ounce ahead of a key US inflation report that could provide fresh clues to the Federal Reserve’s appetite for an interest-rate hike. Oil held a four-day gain after President Donald Trump made sweeping new demands on Iran, complicating the outlook for a deal to reopen the crucial Strait of Hormuz and restore global energy flows. The yen has wiped out half of its rally from recent interventions by Japan and the US to boost the currency, a psychologically significant move for traders who remain on alert for further official support. Australian business confidence snapped three months of gains as uncertainty over the Middle East conflict and persistent energy price strength weighed on the outlook.