FX.co ★ European Stocks Set for Strong Open

European equity markets were poised for a strong start on Monday, with futures on the Euro Stoxx 50 and Stoxx 600 climbing to new record highs after the US and Iran reached a peace agreement, scheduled to be signed in Switzerland on June 19. The deal reportedly provides for the reopening of the Strait of Hormuz, the lifting of naval blockades and economic sanctions, and the dismantling of Iran’s nuclear program.

At the same time, investors were looking ahead to policy decisions from several major European central banks this week, including those in the UK, Switzerland, Sweden, Norway, and Russia. On the data front, focus will be on Germany’s wholesale price figures, as well as the Eurozone’s trade balance and industrial production reports due Monday. No major corporate earnings releases are expected.