EUROPEAN SESSION
In the European session, we don’t have much on the agenda other than a couple of low tier releases like the Spanish retail sales or Italian industrial production that are not going to change anything for the ECB.
The focus remains on US-Iran headlines as the current stalemate is pushing oil prices back towards triple digit levels. The latest reports say that Trump is unlikely to accept Iran’s proposal of opening the Strait of Hormuz and lift the US blockade before holding nuclear talks.
It looks like both the parties think they have the upper hand and it’s hard to see how this is going to change at the moment.
AMERICAN SESSION
In the American session, we have the US Consumer Confidence report which is expected to fall to 89.0 from 91.8 in the prior month due to US-Iran situation and higher energy prices.
This is a market-moving report but the reactions are generally faded, which is likely to be the case today as well given the focus on US-Iran deadlock.
This article was written by Giuseppe Dellamotta at investinglive.com.
