The day ahead in European and global markets is uncertain as to whether the White House will announce plans for naval protection from multiple countries, although it is unclear whether this will occur before or after hostilities end. The Strait of Hormuz remains effectively throttled, with concerns about potential disruptions to the supply chain, including oil supply, as nations like China are clamping down on the export of refined products to preserve domestic supplies. The prospect of opening the Strait could be used as a bargaining chip in U.S.-China trade talks under way. The lack of naval vessels and potential policy easing has put down hopes for policy easing. The next steps for the European Central, Bank of England, and Bank of Canada are expected to be up, while the Australian Reserve Bank is expected to hike.