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Gold consolidates as Iran diplomacy hopes clash with hawkish Fed expectations
Gold (XAU/USD) consolidates on Tuesday as traders weigh fresh Middle East headlines while the broader geopolitical backdrop remains tense. At the time of writing, XAU/USD trades around $4,328 after rebounding from an intraday low of $4,291 during European trading hours.
Japanese Yen recovers against US Dollar as oil prices correct sharply
The Japanese Yen (JPY) claws back its early losses and turns slightly positive against the US Dollar (USD) during the European trading session on Thursday, with the USD/JPY pair dropping 0.2% to near 157.00.
Canadian Dollar hesitates as Oil falls amid Hormuz reopening talksÂ
The Canadian Dollar (CAD) trades practically flat against the US Dollar (USD) on Tuesday as the risk appetite triggered by Tehran’s proposal to reopen the Strait of Hormuz has offset the decline in Crude prices.
Iran offers to reopen Hormuz Strait within 7 days – Kyodo News
According to a report from Kyodo news, a senior Iranian official has said that Iran will reopen the Strait of Hormuz, a critical chokepoint to almost 20% of global energy supply, within seven days if the United States (US) takes initial steps toward easing military pressure.
WTI falls to near $90.00 after news of Iran proposing reopening Hormuz
West Texas Intermediate (WTI) extends its losing streak after losing daily gains, trading around $90.20 per barrel during the European hours on Tuesday.
Euro weakens against Canadian Dollar amid German political turmoil, higher oil prices
EUR/CAD depreciates after three days of gains, trading around 1.6080 during early European hours on Tuesday. The currency cross is losing ground as the commodity-linked Canadian Dollar (CAD) draws strength on higher oil prices, which could be attributed to the heightened market caution.
Brent: Diplomatic hopes support pullback – Deutsche Bank
Deutsche Bank strategists note that Brent briefly fell below $100/bbl as hopes for a diplomatic solution in the Middle East weighed on oil prices.
Equities: Energy relief drives risk-on cascade – Danske Bank
Danske Research Team describes a strong, broad-based risk-on session in equities, catalyzed by declining Oil price.
Canadian Dollar strengthens on rising oil prices ahead of potential US-Iran talks
The USD/CAD pair declines to around 1.4025 during the early European session on Tuesday. Nonetheless, the potential downside for the pair might be limited amid a hawkish stance of the US Federal Reserve (Fed).
Indian Rupee gains sharply as US-Iran diplomacy hopes pressure oil prices
The Indian Rupee (INR) rises significantly against the US Dollar (USD) on Tuesday.
WTI Price Forecast: Looks to reclaim $93.00 after defending 38.2% Fibo. support
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts some buyers during the Asian session on Tuesday, snapping a four-day losing streak to sub-$91.00 levels, or a nearly two-week low touched the previous day.
WTI rises to near $92.50 despite Middle East diplomacy, resuming flows
West Texas Intermediate (WTI) oil price halts its four-day losing streak, trading around $92.30 per barrel during the Asian hours on Tuesday. However, crude oil prices may face further challenges amid easing supply concerns in the Middle East and growing diplomatic efforts to end the US-Iran war.
US Treasury Secretary Bessent says all Iranian airlines to shut down worldwide by September 23
US Treasury Secretary Scott Bessent said that Iranian airlines could effectively be shut out of international travel from September 23, as the United States threatens foreign companies with secondary sanctions if they continue servicing the country’s carriers, Aljazeera news agency reported.Â