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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

Forex Yesterday was a topsy-turvy day in the markets, owing entirely to the continued uncertainty in the Middle East. With the ceasefire deadline looming, there was initial negativity when it emerged Iran would not be in Pakistan on Tuesday for talks and VP Vance canceled his trip. Then we received word there may be some progress, and Trump released a message to advise there will be an extension to a ceasefire while talks continue. While this calmed the uncertainty somewhat,

Forex The market was uncertain yesterday, with mixed moves for almost all currencies. The USD pulled back a little of its previous losses on weekend gaps before the market filled some of these, echoing the oil markets that gapped higher over the weekend before falling away a little during the day. The CAD saw its CPI numbers released lower than expected yesterday, whilst NZD's CPI figures overnight were slightly above expectations. Both had some effect on their respective cur