US equity markets pushed to fresh record highs overnight, though gains were modest as investors continued to monitor Middle East developments. Hezbollah’s agreement to a US ceasefire proposal could pave the way for an extension of the current US-Iran arrangement, while President Trump outlined a possible timeframe for a broader Iran nuclear deal. Oil surged sharply on the ongoing closure of the Strait of Hormuz, with Brent rising 4.66% and WTI gaining 5.85%. The dollar and Treasury yields moved higher, while gold fell 1.48% on the stronger greenback. Today’s focus stays on geopolitics, with Eurozone Flash CPI and US JOLTS Job Openings also in view.
📊 Equities
US equity markets pushed to fresh record highs overnight, although gains were relatively modest as investors continued to monitor developments in the Middle East. Sentiment was supported by reports that Hezbollah has agreed to a US ceasefire proposal — a move that could potentially pave the way for an extension of the current US-Iran ceasefire arrangement. President Trump also shared a possible timeframe for a broader Iran nuclear deal.
🛢️ Oil
Oil prices surged on the session, with Brent crude rising 4.66% and WTI gaining 5.85%. Traders remained focused on the ongoing closure of the Strait of Hormuz, keeping upward pressure on crude as the key shipping route stays disrupted.
🥇 Gold
Gold fell 1.48% as the stronger dollar weighed on the precious metal. Easing safe-haven demand, driven by signs of progress on the Middle East ceasefire front, added to the downside pressure.
💵 FX & Bonds
US Treasury yields and the dollar both moved higher as traders stayed cautious on the broader geopolitical outlook. Markets are balancing positive ceasefire signals against ongoing uncertainty around the Strait of Hormuz and the durability of any peace progress.
📌 Today’s Focus
Attention today remains firmly on geopolitical developments. Traders will also be watching Eurozone Flash CPI for the latest read on European inflation, and US JOLTS Job Openings as the first key employment indicator ahead of Friday’s Non-Farm Payrolls.