Headlines:
Markets:
- WTI crude up 0.2% to $98.10 after briefly brushing the $100 mark
- European indices see slight gains while US futures are flat
- US dollar little changed, hold more mixed on the session
- Gold up 0.1% to $4,768, Silver up 0.7% to $75.59
- US 10-year yields flat at 4.29%
- Bitcoin down 0.4% to $72,142
It was a calmer session but more of a case that markets are waiting with bated breath on what comes next in the US-Iran conflict. Or should I say what happens now as the ceasefire and truce transitions into negotiations. Both sides are slated to sit down in Islamabad to try and seek a peace deal over the weekend, so we’ll have to wait and see on that.
For now, markets are keeping the optimism from the past few days but are not really pushing it any further today.
Oil prices bounced back a little but kept below the $100 mark, with WTI crude up 0.2% to $98.10 currently. The high earlier in the day saw a push to $100.40, before a slight retreat now.
As for risk trades, equities are holding steadier for the most part. Major indices in Europe are seeing gains of around 0.7% across the board while US futures are holding flattish after the slight gains yesterday. S&P 500 futures are flat at the moment, awaiting further direction from Wall Street later.
In FX, major currencies didn’t offer too much on the session. The dollar is lightly changed and keeping more mixed with EUR/USD holding just above 1.1710 and AUD/USD down 0.1% to 0.7170 currently.
Besides that, the bond market is also keeping quieter today while precious metals are seeing light changes after the more volatile moves in the past few days. 10-year yields in the US are flat at 4.29% while gold is also flat at $4,763 on the day.
After talking the talk, it is now time to walk the walk. Have a good weekend, everyone.
