I'm out of touch with current events.

Literal

I [topic-は] recent [possessive-の] situation [to-に] unfamiliar.

疎い (うとい, 'unfamiliar with, out of touch with') takes に for the area one is ignorant about. 情勢 (じょうせい, 'situation, state of affairs') — a formal Sino-Japanese word for current events and conditions. 最近の ('recent, of late').