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Forex Yesterday saw an unusually quiet day for recent times, with no real news coming out of the US-Iran conflict. Trump made some comments about the ceasefire being on shaky foundations, but this was already priced into the market and so did not have a significant effect. All eyes seem to be focused on the Trump & Xi meeting later this week, the outcome of which could shape the conflict moving forward. China is Iran's largest oil consumer, meaning Xi has significant leverage

Forex As has been the case since the start of the war, the key news over the weekend has been from the Middle East. Iran has responded to the US proposal, and Trump has posted on social media that their response is 'totally unacceptable' - there are reports that Iran's proposal demanded recognition of sovereignty over the Strait of Hormuz, compensation for war damages, and notably did not mention the nuclear issue. Both sides seem entrenched in their positions; both seem to w

Forex The details of the potential agreement between the US and Iran were fleshed out a lot more yesterday and gave more information to the markets about what to expect moving forward should a deal be reached. The agreement would create a 30-day window for detailed negotiations on opening the strait, Iran's nuclear program, and lifting US sanctions. One of the key changes seems to be a softening stance from both sides on some parts of a deal involving Iran's nuclear program,

Forex Yesterday saw what could turn out to be the most significant development since the start of the Iran War, with news breaking that the US and Iran were closing in on agreeing to a one-page 'Memorandum Of Understanding'. This would bring an end to hostilities and trigger a 30-day period to resolve the nuclear issue. The key point of note here is that the US position has changed. The US has consistently asserted that nuclear disarmament must be agreed to at the same time a

Forex The most important news overnight was the announcement from Trump that 'Project Freedom' has been paused to see whether an agreement can be reached with Iran. The US naval blockade is still in place, but Secretary of State Marco Rubio has advised the active military phase is now over. The US is now in a defensive position and will not shoot unless shot at first. Iran, on the other hand, was defiant but did not escalate, while their Minister of Foreign Affairs Abbas Arag