EUROPEAN SESSION
In the European session, we don’t have anything on the agenda. The markets are still pretty much rangebound across the board although the latest US-Iran escalation led to a spike in oil prices.
The US launched a series of strikes on Iran in response to Iranian attacks on three vessels in the Strait of Hormuz. Iran retaliated by bombing US bases in Bahrain and Kuwait, warning of further strikes if the US continued.
This episode should be over now, but the risk that things could worsen is ever present.
AMERICAN SESSION
In the American session, the only highlight is the FOMC meeting minutes. The minutes is almost never a market moving release as the details are generally stale by the time the report gets released. Nevertheless, given the limited forward guidance from Fed Chair Warsh, traders will want to see if there’s any further signal in the minutes on the next policy move.
CENTRAL BANK SPEAKERS
07:00 GMT/03:00 ET – ECB’s Kocher (neutral – voter)11:30 GMT/07:30 ET – ECB’s Nagel (hawkish – voter)11:30 GMT/07:30 ET – ECB’s Dolenc (neutral – voter)12:00 GMT/08:00 ET – ECB’s Moulin (neutral – voter)13:30 GMT/09:30 ET – ECB’s Pereira (neutral – voter)16:00 GMT/12:00 ET – ECB’s Kocher (neutral – voter)
This article was written by Giuseppe Dellamotta at investinglive.com.