EU Market Open: Europe primed for lower open as energy rises on US revoking Iran oil waiver

Mixed APAC trade, China in the green amid multiple IPOs and tech strength locally. US and European futures contained.DXY is range-bound despite the renewed Middle East clashes. Yields consolidate after the energy-driven lift on Tuesday, following the revocation of the Iranian waiver and tit-for-tat strikes.US Treasury revoked the June 21st Iran-related waiver, General License X, which had allowed Iran to produce, deliver and sell its oilBrent remains above USD 76/bbl, firmer by c. 3.5%, driven higher by the above points. Though, interestingly, the US strikes did not spur any further upside.RBNZ hiked by 25bps in-line with consensus, assessed the current OCR remains accommodative, and further increases "appear likely".Looking ahead, highlights include Swedish Inflation Prelim. (Jun), US Atlanta Fed GDP (Q2), NBP Policy Announcement (Jul), NBH Minutes (Jun), Fed Minutes (Jun), NATO Ankara Summit, Speakers include US President Trump, Supply from the UK, Germany and the US.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk