Overnight trading saw no activity, but the market is poised for movement as major geopolitical events and political considerations come into focus. Italy's Prime Minister Meloni is signaling a possible election as early as April, stirring discussions around potential policy shifts that could impact EU markets. This development may lead investors to recalibrate their strategies as they gauge the implications for the Italian economy and broader Eurozone stability.

In the Middle East, tensions are heightening around the Strait of Hormuz, with Iran's Fars News Agency reporting a daily cap on vessel passages that will fluctuate based on the situation. Former President Trump has claimed that 19 million barrels of oil flowed through the strait recently, while also emphasizing that any funds released by the US Treasury will go towards purchasing essential supplies for Iran. The geopolitical landscape remains volatile, particularly as Russia's Putin dismisses any prospects for negotiations with Ukraine, further complicating international relations.

As the session opens, algos are focused on potential price volatility driven by these unfolding events. With an AI Sentiment reading of negative and an AI Regime showing a trend at full confidence, the market's mood suggests a cautious stance, compelling traders to watch developments closely, especially those related to oil markets and European political dynamics.