US and Iran have tentatively agreed to a 60-day ceasefire extension allowing Hormuz traffic to resume, but the deal lacks Trump’s approval and Iran has not confirmed the text is finalised. A scan across where we are at on the war and oil. New info in bold below. Summary: Four sources told Reuters that Washington and Tehran have agreed…
Commerzbank’s FX analysts flag that USD/THB slipped to 32.55 on portfolio inflows, even as Thailand’s April trade deficit widened to a record USD10.0bn. Authorities warned the Baht could stay under pressure if strong imports persist, with the currency already down 3.2% versus the Dollar year-to-date despite stronger AI-related export growth. Record deficit weighs on Thai Baht “April trade deficit…
Crude oil is closing modestly higher by $0.20 at $88.90, but the final price does not reflect the volatility seen throughout the trading day. Prices traded as high as $92.52 before reversing sharply lower and eventually finding support near session lows at $87.11. That wide trading range highlights the uncertainty currently driving the oil market from the Middle East…
The St. Louis Federal Reserve (Fed) President Alberto Musalem said that an easing bias in the Federal Reserve’s monetary policy statement is “no longer consistent” in an interview with Bloomberg TV. Musalem added that a move in interest rates would depend on what happens in the economy, noting that bond markets “are seeing a resilient economy,” which could trigger…
Markets kicked off the holiday-shortened week with a decidedly geopolitical flavor on Tuesday, as progress toward a US-Iran peace deal overshadowed fresh overnight military exchanges in the Strait of Hormuz and drove a complex mix of risk-on and risk-off price action across asset classes. The US dollar climbed steadily from the Asia open through the London close to finish…
There are increasing reports suggesting progress toward a cease-fire agreement between the U.S. and Iran. According to multiple sources, the deal would be implemented in two phases, beginning with the signing of a memorandum of understanding (MOU). Reports indicate that Pakistan is expected to witness the signing ceremony. Reuters is reporting that negotiators have reached an agreement on a…
The British Pound (GBP) pares some of its earlier losses and edges up by 0.08% on Thursday amid an Axios report that the US and Iran reached a deal, pending confirmation from US President Donald Trump. At the time of writing, GBP/USD trades at 1.3437 after bouncing off daily lows of 1.3367. GBP/USD recovers as ceasefire hopes pressure the…
AUD/NZD shows a bullish MACD crossover, suggesting a potential bullish momentum shift. Can price extend higher or fail and revert to range trading?
The USDCAD has moved lower after trading to its highest level since April 13. The pair peaked at 1.3869 on two separate occasions during the Asian and early European sessions, with the rally stalling right within a key swing area between 1.3868 and 1.3877. That area has attracted willing sellers and could prove to be an important ceiling after…
Gold (XAU/USD) falls to a fresh two-month low on Thursday as renewed attacks in the Middle East keep traders doubtful about a quick end to the US-Iran war. At the time of writing, XAU/USD is trading at $4,386 after hitting an intraday low of $4,366. US armed forces carried out a second “defensive” strike this week on Iranian military…
