All Posts

Forex Yesterday saw two major news points. The first was news that Trump was not happy with the initial proposal from Iran to shelve the nuclear issue during talks, and that he has instructed his advisers to prepare for a longer blockade. We also then saw the shock news of the day, with the UAE withdrawing from OPEC. In the short term, the news from the US is far more impactful, but in the longer term, the UAE being free from OPEC oil supply restrictions will have a significa

Forex There was cautious optimism yesterday on the back of the Iranian proposition to the USA, which was pared slightly by some of the lukewarm responses from some US politicians. The White House confirmed Trump discussed the offer in the Situation Room, but no outcome has been made public as of yet. It does seem unlikely, however, that a proposal would be accepted that would leave the nuclear discussion off the table, as this was a key factor behind the beginnings of the con

Forex We saw a hugely significant development overnight, with news that Iran has given the US a new proposal to open the Strait of Hormuz and end the war, then delaying negotiations around the nuclear question to a later date. This came after a rollercoaster Friday, where the Iranian delegation arrived in Pakistan only to hear that the US had canceled their team's trip before take-off. The nuclear issue has been the most significant sticking point in the negotiations, so the

Forex There was no diplomatic breakthrough in the Middle East yesterday, with both sides becoming more entrenched in their positions as time goes on. Trump restated there is no deadline on the ceasefire extension, which removes time pressure but also removes any incentive to move quickly. The day saw the USD gain some ground on the back of the uncertainty, as well as due to the rise in oil prices for the third consecutive day. The dollar was also boosted by strong manufacturi

Forex Yesterday was another day of contradictions, as always with the focus squarely on Iran. The ceasefire was extended, which gave a boost to risk-on currencies, but negotiations did not restart and the Strait of Hormuz saw blockades continue. There has not been a timeframe placed on the ceasefire extension, so we may not see deadline day uncertainty in the markets in the same way we saw this week. The US and Iran are currently in a standoff; Iran says they will not negotia