Ransquawk Rundown, Daily Podcast

US launched fresh strikes on Iran in response to Monday's downing of an Apache helicopter; the mission was a “proportional response” to Iranian aggression, while President Trump called it “very strong and powerful”.Iran responded with attacks on US bases in Bahrain, Kuwait and Jordan; Brent Aug'26 U/C.A White House senior official said nothing has changed in their position regarding an agreement with Iran, and it is still close despite the strikes.Iranian Foreign Ministry spokesperson Baghaei says they need to reassess, following the overnight clashes, when questioned on talks with the US, SNN reports.US equity futures extend lower and currently reside at lows; NQ -1.2% underperforms.DXY is incrementally lower into US CPI; USD/JPY choppy on reports that BoJ Governor Ueda is in hospital and will not attend the June meeting.Global fixed benchmarks are slightly lower in quiet trade, US paper awaits data and a 10yr auction.Looking ahead, highlights include US CPI (May), BoC Policy Announcement (Jun), Speakers including BoC's Macklem, Supply from the US, Earnings from Oracle.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US launched fresh strikes on Iran in response to Monday's downing of an Apache helicopter; the mission was a “proportional response” to Iranian aggression, while President Trump called it “very strong and powerful”.Iran responded with attacks on US bases in Bahrain, Kuwait and Jordan; Brent Aug'26 +0.1%.A White House senior official said nothing has changed in their position regarding an agreement with Iran, and it is still close despite the strikes.US and Iran had reportedly narrowed negotiations to four core nuclear issues in the days before the latest flare-ups, NYT reported.APAC stocks were mostly lower amidst geopolitical strikes and mixed Chinese CPI; European equity futures are indicative of a slightly weaker open.DXY is incrementally lower into US CPI, G10s are mixed against the USD, with the Aussie slightly underperforming.Looking ahead, highlights include Norwegian CPI (May), Swedish GDP (Apr), US CPI (May), BoC Policy Announcement (Jun), Speakers including BoC's Macklem, Supply from Germany & US, Earnings from Oracle.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said they are negotiating with Iran, and a victory will happen very soon, while he stated they will declare total victory in two weeks.US President Trump said Israel and Iran agreed to leave each other alone for another week.US equity futures continue to gain; FTSE 100 underperforms as Pharma giants fall. DXY returns below 100.00 handle, Kiwi outperforms while GBP gains following strong BRC sales. Fixed income benchmarks are tentatively firmer as geopolitical tensions ease.Crude continues to soften amid halted Iran-Israeli strikes; metals supported by softer dollar and positive risk toneLooking ahead, highlights include Mexican Inflation (May), US ADP Weekly Change, Exports/Imports, Atlanta Fed GDP, Existing Home Sales (May), Wholesale Inventories (Apr), Canadian Exports/Imports (Apr), EIA STEO (Jun), Comments from ECB President Lagarde, Supply from the US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said they are negotiating regarding Iran and a victory will happen very soon; he stated they will declare total victory in two weeks; Brent Aug'26 -1.1%Trump was said to have warned Israeli PM Netanyahu that if he turns escalation into war, he will be left alone against Iran. He also told the Israeli PM that if he does not get an Iran deal within a few days, he would lead the strikes on Iran.A top Iranian official casted doubt on a deal being imminently reached between the US and Iran, telling CNN that major roadblocks persist on issues like Iran's nuclear program and uranium enrichment.Pentagon accused several Chinese tech-giants (Alibaba, Baidu, BYD, Tencent) of aiding the Chinese military.APAC stocks traded mixed; European equity futures are indicative of a slightly weaker open.DXY is incrementally lower with G10s broadly firmer, and the Kiwi outperforms.Looking ahead, highlights include German Balance of Trade, Exports, Imports (Apr), Mexican Inflation (May), US ADP Weekly Change, Exports/Imports, Atlanta Fed GDP, Existing Home Sales (May), Wholesale Inventories (Apr), Canadian Exports/Imports (Apr), EIA STEO (Jun), Comments from ECB President Lagarde, Supply from Netherlands, Germany & US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Over the weekend, Israel struck Lebanese targets despite US President Trump urging Israeli PM Netanyahu to refrain from strikes. In retaliation, Iran launched missiles at Israel.US President Trump has ordered Israel and Iran to immediately stop shooting. Crude futures jump (Brent Aug'26 +4.1%) following the renewed strikes, weighing on fixed income benchmarks.European bourses slump after renewed Middle East strikes and further tech selloff, while US equity futures rebound from last week's selloffDXY rangebound; antipodeans outperform while USD/JPY slips back below 160.00 handle. Looking ahead, highlights include US NY Fed SCE (Jun), Apple WWDC Keynote (June 8-12).Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Israel conducted airstrikes in Beirut, which led to retaliatory attacks by Iran against Israel. The Iranians warned that if Israel expands its Lebanon operations, it will deliver “devastating blows”; Brent Aug'26 +4.1%.US President Trump said he was supposed to announce that a deal with Iran would be signed this week, and now this (in reference to the above airstrikes) is happening.US President Trump said Israeli PM Netanyahu will have no choice but to accept whatever deal the US negotiates with Iran because he calls the shots.APAC stocks were negative, amidst the geopolitical escalation and after Friday's tech-led losses. European bourses are indicative of a weak open.DXY is a touch lower, whilst Antipodeans are incrementally firmer. USD/JPY hovers above 160.00.Looking ahead, highlights include German Factory Orders (Apr), US NY Fed SCE (Jun), Apple WWDC Keynote (June 8-12).Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Iran has informed Pakistan of its acceptance of transferring part of its uranium to a third country that agrees to it. However, Al Arabiya followed up by stating that the US still refuses Iran's request to release its frozen funds.US equity futures tilt negative as AVGO AI revenue guidance continues to infect the tech space. G10s firm against the Buck into NFP, expectations of 85K.Tentative action across fixed benchmarks, while gilts outperform as the Makerfield by-election nears. Crude off lows while Washington gives Iran till the end of the week to respond.Looking ahead, highlights include US Jobs Report (May), Canadian Jobs Report (May), Speakers include BoE's Bailey & Dhingra.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said that Iran talks are going well. He reiterated that almost all of Iran's leadership has been wiped out; Brent Aug'26 +0.4%.Washington has demanded that Tehran deliver its response before the end of the week, and stated no progress in negotiations between Iran and the US, Al Hadath reports, citing Israeli Channel 12. Washington warned Tehran, “either an agreement or a military strike”.Ukrainian President Zelensky sent a letter to Russian President Putin, which said that the choice is yours; "Enough of war, Ukraine proposes to end this war".APAC stocks were mostly lower, subdued by tech-related pressure stateside; European equity futures are indicative of a slightly lower open.DXY is slightly lower, awaiting the key US NFP report; G10s trade lacklustre, whilst USD/JPY lingers around 160.00.Looking ahead, highlights include French Balance of Trade (Apr), BoE DMP (May), EU Employment Change Final (Q1), GDP 3rd Estimate (Q1), Italian Retail Sales (Apr), Canadian Jobs Report (May), US Jobs Report (May).Speakers include RBA's Hauser, BoE's Bailey & Dhingra.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

An informed source to Al Arabiya said the agreement on the release of frozen Iranian funds in its final stages, but the search continues for a mechanism on frozen funds. However, US President Trump informed the mediators of his refusal to release funds to Iran before signing the agreement.Israel and Lebanon agreed to a ceasefire in US-brokered talks, with the ceasefire contingent on Hezbollah's evacuation from the Litani. Despite this, there have been reports of continuing attacks in Southern Lebanon.US equities mixed as disappointing AVGO and CRWD earnings weigh on NQ and ES. Fixed income benchmarks gain by a handful of ticks ahead of Friday's NFP.DXY softened; JPY saw fleeting strength following hawkish BoJ reports, CHF firmer despite softer CPI data.Crude slips as efforts for a US-Iran deal continue.Looking ahead, highlights include Jobless Claims (May/30), Revelio PLS (May), Chicago Fed Labor Market Indicators Final (May), Speakers include BoE's Bailey, Fed's Daly, Bowman & Barkin, Earnings from Docusign, lululemon & Ciena.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said they have been hitting Iran pretty hard and Iran negotiations are going well, while he suggested a deal could happen over the weekend. Though noted that it could go another two or three weeks, Brent Aug'26 -0.7%.Talks between Iran and the US were reportedly still ongoing, and no final decision had been made, according to Fars, citing a member of Tehran's negotiating team.An Iranian negotiating delegation media team member outlined a four-stage proposal for a deal with the US. 1) Ending the war, 2) tangible measures re. the Strait, 3) sanctions and nuclear issues, 4) the establishment of a supervisory committee.APAC stocks traded lower following a negative handover from the US; European bourses are indicative of a softer open.G10s are mostly slightly firmer against the USD; JPY gains slightly on reports that the BoJ is to mull a hike this month, with another possible this year.Looking ahead, highlights include Swedish CPIF (May), Swiss CPI (May), EU Retail Sales (Apr), US Challenger Layoffs (May), Jobless Claims (May/30), Revelio PLS (May), and Chicago Fed Labor Market Indicators Final (May). Supply from Spain & France. Earnings from Docusign, lululemon & Ciena.Speakers include BoE's Bailey, ECB's Lagarde, Fed's Daly, Bowman & Barkin.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

The US struck Iran's Qeshm Island, which was then met with retaliatory Iranian strikes on US bases in Kuwait; explosions were also reported in Saudi Arabia, and air sirens were set off in the UAE. US CENTCOM said that the Iranian drone attacks were “successfully defeated.”US proposed new tariffs of at least 10% on imports from 60 trading partners following Section 301 investigation. Crude (Brent +2.7%) rebounds as US and Iran's flare-up ripples through the Middle East; yields follow the energy rise. US equity futures mixed, with NQ outperforming as MRVL (+9.3%) continues to surge. DXY moves higher amid geopols, JPY outperforms amid commentary by PM Takaichi and BoJ Ueda. Looking ahead, highlights include US ADP Employment Change (May), S&P PMI Final (May), ISM Services PMI (May), Factory Orders (Apr), Fed Beige Book, Speakers including ECB's Cipollone, Fed's Barr & Logan, Earnings from Broadcom & CrowdStrike.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump told ABC News he thinks he will have an agreement with Iran to extend the ceasefire and reopen the Strait of Hormuz over the next week.US equity futures lack direction just shy of ATHs, while European bourses reverse Monday's losses. Global benchmarks benefit from lower energy prices, JGBs outperform following a solid 10yr auction.DXY muted, EUR directionless as EZ CPI surpasses 3%. Crude (Brent -1.4%) falls over renewed hopes of an Iran resolution.Looking ahead, highlights include US JOLTs Job Openings (Apr), RCM/TIPP Economic Optimism, New Zealand Export/Import Prices (Q1), NBP Policy Announcement (Jun). Speakers include Fed's Hammack, BoE's Bailey & Greene, ECB's Vujcic. Earnings from Dollar General, Palo Alto & ULTA Beauty.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said talks with Iran were continuing at a rapid pace; he thinks he will have an agreement with Iran to extend the ceasefire and reopen the Strait of Hormuz over the next week.Iran's Foreign Ministry said the US bears direct responsibility for violations of the ceasefire with Iran and by Israel in Lebanon, adding that a violation on one front was equal to violations on all fronts.The US is in talks to expand nuclear weapon deployments in Europe, according to the FT.Crude futures gradually pulled back overnight following the prior day's rally; fixed income caught a bid overnight.APAC stocks were mixed following the choppy performance stateside; European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 0.5%.Looking ahead, highlights include EZ CPI (May), JOLTs Job Openings (Apr), RCM/TIPP Economic Optimism, New Zealand Export/Import Prices (Q1), NBP Policy Announcement (Jun). Speakers include Fed's Kashkari & Hammack, BoE's Bailey & Greene, ECB's Vujcic. Supply from the UK & Germany. Earnings from Dollar General, Palo Alto & ULTA Beauty.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

The text of the possible memorandum of understanding between the US and Iran has not been finalised and confirmed to this point, according to Tasnim.A Romanian radio station reported that a drone hit a residential building in Romania's Galati, near the border with Ukraine.The EU is to discuss restrictions on Chinese imports, although no decision was expected on Friday.Crude benchmarks are currently trading towards lows; Brent Aug'26 -1.6%.European bourses are broadly firmer this morning, whilst US equity futures are contained; Dell +37% post-earnings.DXY gains slightly, whilst the Kiwi outperforms after hawkish speak from RBNZ officials.Looking ahead, highlights include German Nationwide CPI (May), Canadian GDP (Q1). Speakers include Fed's Schmid, Bowman, Paulson & Daly. Credit Rating updates include S&P on France & Hungary, Morningstar DBRS on Spain.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

The text of the possible memorandum of understanding between the US and Iran has not been finalised and confirmed to this point, according to Tasnim.A Romanian radio station reported that a drone hit a residential building in Romania's Galati, near the border with Ukraine.The EU is to discuss restrictions on Chinese imports, although no decision was expected on Friday.APAC stocks headed into month-end on the front foot as the region took impetus from the gains stateside.Crude futures were subdued after wiping out the prior day's initial gains.European equity futures indicate a mildly positive cash market open with Euro Stoxx 50 futures up 0.2% after the cash market closed with losses of 0.3% on Thursday.Looking ahead, highlights include Spanish HICP (May), German Import Prices (Apr), State/Nationwide CPI Prelim. (May), Unemployment Rate (May), French GDP Final (Q1), HICP Prelim. (May), Italian HICP Prelim. (May), Canadian GDP (Q1). Speakers include BoE's Bailey, Fed's Kashkari, Schmid, Bowman, Paulson & Daly. Credit Rating updates include S&P on France & Hungary, Morningstar DBRS on Spain.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

A US official said the US military carried out new strikes on an Iranian military site and shot down multiple Iranian drones that posed a threat to US forces and commercial maritime traffic in the Strait of Hormuz.IRGC said it targeted a US air base in response to the US aggression near Bandar Abbas Airport, while it added that any further US attacks would trigger a more decisive response.Air raid sirens sounded in Kuwait, and the Kuwaiti Army said air defences were intercepting hostile missiles and drone attacks, according to Al Hadath.European and US equity futures slip as markets digest the recent flare-up; DXY firmer, Brent Aug'26 +2.5%, with fixed income benchmarks on the backfoot.Looking ahead, highlights include US Initial Jobless Claims (May/23), US GDP 2nd Estimate (Q1), US Core PCE (Apr), US Durable Goods Orders (Apr), US Real Consumer Spending 2nd Estimate (Q1), Atlanta Fed GDP (Q2), ECB Minutes (Apr), SARB Policy Announcement (May). Speakers include Fed's Williams & Barkin, BoE's Breeden, ECB's Schnabel & SNB's Schlegel. Supply from the US, Earnings from Dell.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

A US official said the US military carried out new strikes on an Iranian military site and shot down multiple Iranian drones that posed a threat to US forces and commercial maritime traffic in the Strait of Hormuz.IRGC said it targeted a US air base in response to the US aggression near Bandar Abbas Airport, while it added that any further US attacks would trigger a more decisive response.Air raid sirens sounded in Kuwait, and the Kuwaiti Army said air defences were intercepting hostile missiles and drone attacks, according to Al Hadath.US President Trump said he was not discussing easing sanctions on Iran and would keep control of Iran's money until it behaves, while adding he was uncomfortable with Russia or China taking Iran's highly enriched uranium stockpileCrude futures edged higher after reports of explosions in Iran's Bandar Abbas; 10yr UST futures continued their slide amid a rebound in oil.APAC stocks were pressured amid a flare-up of geopolitical tensions; European equity futures indicate a lower cash market open with Euro Stoxx 50 futures down 1.2%.Looking ahead, highlights include Spanish Retail Sales (Apr), EU Consumer Confidence Final (May), US Initial Jobless Claims (May/23), US GDP 2nd Estimate (Q1), US Core PCE (Apr), US Durable Goods Orders (Apr), US Real Consumer Spending 2nd Estimate (Q1), Atlanta Fed GDP (Q2), ECB Minutes (Apr), SARB Policy Announcement (May). Speakers include Fed's Williams & Barkin, BoE's Breeden, ECB's Lane, Lagarde, Cipollone, Schnabel & SNB's Schlegel. Supply from the UK, Italy & US, Earnings from Dell.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US Central Command spokesperson said US forces conducted self-defence strikes in southern Iran on Monday, in which US forces hit targets, including missile launch sites and Iranian boats attempting to emplace mines.Iranian Supreme Leader Khamenei said America will no longer have a safe haven in the Middle East, while the IRGC affirm its right to respond to any ceasefire breach. Global bourses pare Monday's gains after renewed US strikes on Iranian sites, while Ferrari stalls following EV launch.DXY rangebound, Kiwi underperforms heading into RBNZ, Cable reverses from 1.35 while EUR firmer as Schnabel sees a June hike. Fixed income benchmarks hold a negative bias amid higher energy prices, as US strikes Iranian sites in "self-defence."Looking ahead, highlights include US Chicago Fed National Activity Index (Apr), Dallas Fed Manufacturing Index (May), Consumer Confidence (May), NBH Policy Announcement (May), Speakers include ECB's Sleijpen, Supply from the US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

A US Central Command spokesperson said US forces conducted self-defence strikes in southern Iran on Monday, in which US forces hit targets, including missile launch sites and Iranian boats attempting to emplace mines.US Secretary of State Rubio said US strikes on Iran do not preclude a diplomatic deal and that an Iran deal is possible within days.A source familiar with talks between the high-level Iranian delegation and officials in Doha said Qatari mediation has led to an understanding with the US on Tehran's frozen financial assets, according to Al Jazeera.Crude futures partially rebounded off the prior day's lows after slumping nearly 7% on Monday.Asia-Pac stocks were mixed; European equity futures indicate a mildly lower cash market open with Euro Stoxx 50 futures down 0.3%.Looking ahead, highlights include US Chicago Fed National Activity Index (Apr), Dallas Fed Manufacturing Index (May), Consumer Confidence (May), NBH Policy Announcement (May), Supply from Italy & the US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump posted on Saturday that an agreement has largely been negotiated, subject to finalisation between the US, Iran and various Middle Eastern countries.US and Iran were reportedly close to signing an agreement involving a 60-day ceasefire extension, which could be extended by mutual consent, according to Axios.US senior officials said the naval blockade will only be lifted after Iran opens the Strait of Hormuz, and no funds will be released until enriched uranium is handed over.Crude futures declined amid hopes for a US-Iran agreement after President Trump announced on Saturday that an agreement has largely been negotiated.APAC stocks gained with risk appetite boosted; European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 1.0%.Looking ahead, holidays include cash market closures in the US and UK.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Al Arabiya and Al Hadath exclusively report the text of the anticipated US-Iran agreement in case of its approval. A Pakistani source said that cautious optimism is the prevailing sentiment in the ongoing discussions regarding the planned agreement.However, another Pakistani source said the US and Iran's insistence on raising the bar for their demand regarding uranium and the Strait of Hormuz has led to a "crisis in negotiations." Crude on a firmer footing despite diplomatic efforts.Global equities set to end the week with gains, ahead of the UK/US extended weekend.FX broadly within Thursday's wide ranges; GBP unfazed by PSNB and retail sales, AUD weaker as banks shift tightening call.Fixed income higher, Gilts benefit from cooler-than-expected Retail Sales.Looking ahead, highlights include Canadian Retail Sales (Mar), University of Michigan Consumer Sentiment Final (May), BoC SLOS (May), Kevin Warsh sworn in as Fed Chair with US President Trump to attend. Speakers include Fed's Waller. Credit Ratings: Scope Ratings on China, S&P on Norway, Moody's on Hungary, Portugal & UK.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US stocks ultimately closed higher in what was another choppy session dominated by contradictory geopolitical headlines surrounding the Middle East conflict.Al Arabiya TV was initially reported to have obtained the final draft of a prospective Pakistani-mediated US-Iran agreement, although it was later stated that these reports were fabricated.A senior Iranian source said no deal had been reached yet, but gaps have narrowed, with Iran's uranium enrichment and its control over the Strait of Hormuz among the sticking points.A high-level source familiar with the matter later said the Iranian Supreme Leader's final decision is not to hand over the enriched uranium to Washington, according to Al Hadath.APAC stocks were mostly higher; European equity futures indicate a higher cash market open with Euro Stoxx 50 futures up 1.0%.Looking ahead, highlights include German GfK Consumer Confidence (Jun), GDP Final (Q1) & Ifo Business Climate (May), UK Retail Sales (Apr), PSNB (Apr), Canadian Retail Sales (Mar), University of Michigan Consumer Sentiment Final (May), BoC SLOS (May), and Kevin Warsh sworn in as Fed Chair. Speakers include ECB's Lane & Fed's Waller. Credit Ratings: Scope Ratings on China, S&P on Norway, Moody's on Hungary, Portugal & UK.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Tehran is studying the American text and has not yet submitted its response, Al Arabiya reported citing sources."Pakistan's mediation efforts between US and Iran are at a crucial stage where efforts are underway to secure an agreement or a framework for comprehensive talks which can eventually lead to a ‘deal',"** according to journalist Mallick.European bourses are broadly higher despite disappointing PMIs; US equity futures are flat after NVDA sales guidance disappointed. DXY weighs hawkish FOMC and geopolitics; AUD lags post-jobs data. USTs are a little lower whilst Bunds digest Flash PMIs, which fuel stagflation woes.Crude wanes off highs amid further reports of diplomatic effects; Brent Jul -0.7%. Looking ahead, highlights include US S&P PMIs Flash (May), Initial Jobless Claims (May/16), EU Consumer Confidence Flash (May), Banxico Minutes (May). Speakers include BoE's Bailey & Taylor, ECB's Elderson, Fed's Barkin, Goolsbee. Earnings from Walmart & Deere.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said negotiations with Iran were in the “final stages” and warned that the US military could have to get “a little bit nasty” if no agreement is reached, according to the New York Post.There had reportedly been progress in attempts to formulate a memorandum of understanding and guiding principles between the US and Iran, although significant gaps remained, according to Amichai Stein.FOMC minutes showed many policymakers would have preferred to remove the easing bias from the policy statement, while a majority said further tightening would likely become appropriate if inflation remained persistently above target.NVIDIA shares edged lower (-1.3%) in extended trading, despite beating expectations and giving upbeat guidance, amid lofty investor expectations.APAC stocks mostly rallied as the region took impetus from the gains in the US; European equity futures indicate a flat/slightly positive cash market open.Looking ahead, highlights include Global S&P PMIs Flash (May), US Initial Jobless Claims (May/16), EU Consumer Confidence Flash (May), and Banxico Minutes (May). Speakers include BoE's Bailey & Taylor, ECB's Elderson, Fed's Barkin. Supply from Spain, France & UK, Earnings from Walmart & Deere.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Iran-Pakistan cooperation has reportedly declined over the past two weeks, with a diplomatic source saying that Iran and Pakistan held conflicting positions on negotiation channels and the venue for talks.The EU has finalised the text of its US trade deal, as the bloc races to meet US President Trump's July 4th deadline.European bourses softer, chip names firmer ahead of NVDA earnings.Lacklustre trade across G10s with the DXY slightly firmer ahead of the FOMC Minutes. Fixed benchmarks find some reprieve as energy prices pull back, Gilts outperform following cooler-than-expected CPI.Crude futures on a softer footing, precious metals hold steady following Tuesday's selloff. Looking ahead, highlights include New Zealand Trade Balance (Apr), FOMC Minutes (Apr). Speakers include Fed's Barr, BoE's Bailey, Breeden, Dhingra & Mann. Supply from the US. Earnings from NVIDIA, Target & Intuit.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Iran's position in talks with the US to end the war hasn't changed much from earlier iterations that failed to yield progress towards a deal, according to WSJ, citing mediators and US officials.US Vice President Vance said he had spoken with President Trump regarding Iran and stated that Tehran had two options: either reach an agreement or resume the war.A US intelligence assessment recently showed that US forces identified at least 10 mines in the Strait of Hormuz, according to CBS, citing US officials.Samsung Electronics' (005930 KS) largest labour union will begin an 18-day strike on 21st May after wage talks broke down, Yonhap reported.APAC stocks declined following the weak handover from the US; European equity futures indicate a lower cash market open with Euro Stoxx 50 futures down 0.6%.Looking ahead, highlights include German PPI (Apr), UK Inflation Report (Apr), EU Inflation Final (Apr), New Zealand Trade Balance (Apr), and FOMC Minutes (Apr). Speakers include US President Trump, Fed's Paulson & Barr, BoE's Bailey, Breeden, Dhingra & Mann. Supply from Germany & US, Earnings from NVIDIA, Target & Intuit.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump posted on Truth that the US military is to hold off on the Iran attack that was initially planned for Tuesday after Saudi Arabia, UAE, and Qatar requested him to do so, as serious talks are now taking place.US President Trump also instructed the US to be prepared to go forward with a full, large-scale assault of Iran on a moment's notice, in the event an acceptable deal is not reached.European bourses outpace their US peers, awaiting an update from the US and/or Iran.DXY firms; USD/JPY edges beyond 159.00, raising risk of intervention; AUD lags post-RBA minutes.Global fixed benchmarks gain; Gilts outperform amidst domestic political updates and a downbeat jobs report. Crude futures give back recent gains, metals weighed by firmer dollar. Looking ahead, highlights include US ADP Employment Change Weekly, Canadian CPI (Apr). Speakers include ECB's Lane, Villeroy, Nagel & Fed's Waller. Earnings from Home Depot.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump posted on Truth that the US military is to hold off on the Iran attack that was initially planned for Tuesday after Saudi Arabia, UAE, and Qatar requested him to do so, as serious talks are now taking place.US President Trump also instructed the US to be prepared to go forward with a full, large-scale assault of Iran on a moment's notice, in the event an acceptable deal is not reached.US President Trump told The Post on Monday that he is “not open” to any concessions for Tehran after receiving the latest disappointing Iranian response on peace deal talks.Crude futures were lower following the prior day's choppy mood owing to mixed geopolitical headlines, although the main highlight was US President Trump calling off an attack on Iran.APAC stocks traded mixed; European equity futures indicate a mildly higher cash market open with Euro Stoxx 50 futures up 0.2%.Looking ahead, highlights include UK Jobs Report (Mar/Apr), Average Earnings (Mar), US ADP Employment Change Weekly, Canadian CPI (Apr). Speakers include BoE's Breeden, ECB's Lane & Fed's Waller. Supply from UK & Germany, Earnings from Home Depot.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump warned that the clock is ticking for Iran, though he declined to give a specific deadline. Situation room meeting due Tuesday.Pakistan shared a revised Iranian proposal to end the war with the US on Sunday night, according to Pakistani sources.European bourses broadly in the red, but off lows as reports tout a sharing of US-Iran proposals.DXY reverses earlier gains, GBP helped by technicals & JPY lags on budget fears.Fixed income benchmarks rebound, in synchrony with energy downside. Crude futures lifted following punchy Trump rhetoric, gold/silver supported by tighter Indian import restrictions.Looking ahead, highlights include US NAHB Housing Market Index (May), Canadian Victoria Day holiday, Supply from the EU.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said it's just a question of time regarding Iran, but added that he is not going to be much more patient with Iran.US President Trump said he made fantastic trade deals with China, and it was an incredible visit, while they've settled a lot of different problems, and the relationship is a very strong one.Global equities hit, led by Tech and Basic Resources amid a number of factors: 1) Central bank repricing, 2) Tech sell-off driven by higher yields and strikes at Samsung Electronics, 3) Surging energy prices.DXY bid amid higher energy, GBP knocked by the potential of a Burnham premiership.Global yields jump amidst central bank repricing and higher energy prices.Crude grinds higher heading into the weekend as Trump returns from China and refocuses on Iran.Looking ahead, highlights include Canadian Wholesale Sales (Mar), US Industrial Production (Apr) and Credit Ratings Updates including Fitch on Germany, S&P on Italy, Morningstar DBRS on Portugal and the UK, Scope Ratings on Poland.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said it's just a question of time regarding Iran, but added that he is not going to be much more patient with Iran.US President Trump said he made fantastic trade deals with China, and it was an incredible visit, while they've settled a lot of different problems, and the relationship is a very strong one.Crude futures gradually edged higher amid risks of geopolitical escalation when US President Trump returns from his Beijing trip.APAC stocks were mostly subdued; European equity futures indicate a lower cash market open with Euro Stoxx 50 futures down 1.3%.UK's Manchester Mayor Andy Burnham will be requesting to stand in the Makerfield by-election after MP Josh Simons stepped down.Looking ahead, highlights include Italian HICP Final (Apr), Canadian Wholesale Sales (Mar), US Industrial Production (Apr), Comments from Fed's Barr, Credit Ratings Updates including Fitch on Germany, S&P on Italy, Morningstar DBRS on Portugal and the UK, Scope Ratings on Poland.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump had a good meeting with Chinese President Xi, in which the two sides discussed ways to enhance economic cooperation. The two sides agreed that the Strait must remain open and that Iran can never have a nuclear weapon. However, Taiwan was not mentioned.US President Trump's team is now discussing options for military escalation to break the deadlock, Axios reported. Options include resuming Project Freedom or striking Iranian infrastructure. European bourses continue to rebound; NVDA gains after the US reportedly approved around 10 Chinese firms to buy H200 chip.DXY flat, GBP immediately pared post-GDP gains as politics remains in focus.USTs attempt to bounce back from recent losses; Gilts eye a potential leadership challenge.Crude holds a mild upward bias but wanes off its best levels as US and Iran prefer diplomacy.Looking ahead, highlights include Trump-Xi Summit (14th-15th May); US Retail Sales (Apr), Export/Import Prices (Apr), Jobless Claims (May 9), Atlanta Fed GDP. Speakers include BoE's Pill, Fed's Bowman, Miran, Logan, Schmid, Hammack & Williams.Holiday: Ascension Day Holiday (Closures in Switzerland, Sweden, Norway, Finland, Denmark).Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump told Chinese President Xi that they've had a fantastic relationship and they are going to have a fantastic future together.Chinese President Xi told US President Trump it is a pleasure to meet him in Beijing, while he has always believed that the common interests between China and the US outweigh the differences.US Secretary of State Rubio said the US hopes to convince China to play a more active role in persuading Iran to back down on its actions in the Gulf.An Iranian NSC spokesperson said new confrontations with the US are possible, and they are preparing a law regarding navigation in the Strait of Hormuz.APAC stocks traded mixed; European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 0.7%.Looking ahead, highlights include Trump-Xi Summit (14th-15th May); UK GDP (Mar/Q1), Industrial Production (Mar), Spanish HICP Final (Apr), US Retail Sales (Apr), Export/Import Prices (Apr), Jobless Claims (May 9), Atlanta Fed GDP. Speakers include ECB's Lagarde, BoE's Pill, Fed's Logan, Schmid, Hammack & Williams. Earnings from Telefonica, Burberry & National Grid.Holiday: Ascension Day Holiday (Closures in Switzerland, Sweden, Norway, Finland, Denmark).Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US Treasury Secretary Bessent and Vice Premier He held talks. Following the conclusion, Chinese state media reported that China and the US held candid, in-depth and constructive exchanges.European bourses rebounded from Tuesday's selloff, DAX 40 outperform following a heavy earnings docket; US equity futures gain.GBP mixed against its peers as Starmer appears on a firmer footing but risks remain into on the return of Parliament.Global fixed benchmarks are flat/incrementally firmer, Gilts find reprieve after recent pressure.Crude lower but off lows after taking a breather overnight; IEA said world oil supply to fall by 3.9mln bpd in 2026. Looking ahead, highlights include US PPI (Apr), BoC Minutes (Apr), OPEC MOMR (May). Speakers include BoE's Mann, Fed's Collins & Kashkari, ECB's Lane & Lagarde. Supply from the US. Earnings from Cisco Systems.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said they are only going to make a good deal regarding Iran and will have a long talk with Chinese President Xi about the Iran war.Iran will not enter the second round of talks with the US without fulfilling five confidence-building conditions, local media reported.US President Trump posted that NVIDIA CEO Huang is on Air Force One along with a number of CEOs of large US companies.UK government whips believe Wes Streeting will make his move on Thursday to avoid clashing with the King's Speech.APAC stocks traded mixed; European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 0.8%.Looking ahead, highlights include Swedish Inflation Final (Apr), French Inflation Final (Apr), EZ Employment Change (Q1), Industrial Production (Mar), GDP 2nd Estimate (Q1), US PPI (Apr), BoC Minutes (Apr), Riksbank Minutes (May), IEA OMR (May), OPEC MOMR (May). Speakers include BoE's Mann, Fed's Collins & Kashkari, ECB's Lane & Lagarde. Supply from Australia, Italy, Germany & US. Earnings from Cisco Systems, Alibaba, Siemens, Deutsche Telekom, Allianz, E.ON, Merck & RWE.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

UK PM Starmer said he will not be setting out a timetable for departure. This came after over 81 Labour MPs calling for the PM to resign, enough to launch a leadership challenge.European bourses are entirely in the red, with UK Banks hit on political turmoil; US equity futures pull back from ATHs.DXY is firmer, buoyed by geopols; GBP underperforms amidst political unrest, while JPY remains on intervention watch.Gilts underperform, USTs lower ahead of US CPI. Crude rises as US-Iran woes mount, with no off-ramp in sight.Looking ahead, highlights include US CPI (Apr), ADP Employment Change Weekly, EIA STEO (May), and EU Informal Meeting of Energy Ministers (May 12-13). Speakers include ECB's Elderson, Fed's Goolsbee. Supply from the US. Earnings from Under Armour.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said he has a plan on Iran and repeated that their proposal is unacceptable, while he added that the US blockade on Iran was part of military genius.US President Trump said the ceasefire is unbelievably weak and is on life support, but added that a diplomatic solution with Iran is still possible.US President Trump was reported to have met with his national security team on Monday to discuss the way forward in the Iran war, including possibly resuming military action, Axios sources reported.The White House said US President Trump will meet with Chinese President Xi on Thursday at 10:15 AM in Beijing (03:15BST/22:15EDT), and a banquet will be held at 18:00 on Thursday (11:00BST/06:00EDT).APAC stocks traded mixed; European equity futures indicate a negative open with Euro Stoxx 50 futures down 0.7%.Looking ahead, highlights include German HICP Final (Apr), ZEW (May), US Inflation (Apr), ADP Employment Change Weekly, EIA STEO (May), and EU Informal Meeting of Energy Ministers (May 12-13), Australian federal budget. Speakers include RBNZ's Bremen, BoC's Macklem, ECB's Elderson, Fed's Williams & Goolsbee. Supply from the Netherlands, UK, Germany & US. Earnings from JD com, Under Armour, Siemens Energy, Munich Re, Bayer & Vodafone.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump rejected Iran's response to the peace plan, which he called totally unacceptable.Iran's proposal was said to have stressed the need for the US to pay compensation for war damages and emphasised Iran's sovereignty over the Strait of Hormuz. Brent initially climbed above USD 105/bbl but has waned off highs on potential diplomacy.European bourses traded mixed, Compass raised its FY guidance; US equity futures muted.DXY benefited from higher energy prices, CHF underperforms while GBP is cautious as PM Starmer addresses the nation. USTs and Bunds off worst levels as energy benchmarks dip from overnight highs.Looking ahead, highlights include US Existing Home Sales, BoC Market Participants Survey. Supply from the US. Earnings from Hims & Hers, Constellation Energy & Circle Internet.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Iran submitted its response to the latest proposal by the US to end the war; state media later reported that the US proposal amounted to Iran surrendering to Trump's excessive demands.US President Trump rejected Iran's response to the peace plan, which he called totally unacceptable.Iran's proposal was said to have stressed the need for the US to pay compensation for war damages and emphasised Iran's sovereignty over the Strait of Hormuz. Brent climbed above the USD 105/bbl, and WTI breached the USD 100/bbl level to the upside. APAC stocks traded mixed; European equity futures indicate a flat cash market open.Looking ahead, highlights include Norwegian Inflation (Apr), US Existing Home Sales, BoC Market Participants Survey. Supply from the US. Earnings from Hims & Hers, Constellation Energy, Circle Internet, Hannover Re & Gea Group.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

The US military has carried out strikes in Iran's Qeshm port and Bandar Abbas, according to Fox News, citing a US official, who said it is not a restart of the war. Iran's military said the US violated the ceasefire.US President Trump said the Iran ceasefire is still on and that the US is negotiating with the Iranians. He added that Pakistan asked the US not to do Project Freedom during the negotiations. Remarks which have helped energy prices ease from highs.The situation on Iranian islands and coastal cities by the Strait of Hormuz is back to normal, according to Press TV. European bourses are broadly in the red, reacting to US-Iran flare-ups, whilst US equity futures gain.DXY wanes as oil eases and G10s gain; GBP was initially unreactive to UK local elections but now marginally outperforms peers.USTs await NFP, Gilts bounce as the UK local elections results continue to filter in.Looking ahead, highlights include US Jobs Report (Apr), University of Michigan Survey Prelim. (May), Canadian Jobs Report (Apr). Speakers include ECB's Schnabel, BoE's Breeden, Bailey, Fed's Cook, Waller, Goolsbee, Daly, Miran and Bowman.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

The US military has carried out strikes in Iran's Qeshm port and Bandar Abbas, according to Fox News, citing a US official. The official said this is not a restart of the war or the end of the ceasefire.The US military said US forces intercepted Iranian attacks and responded with self-defence strikes against Iranian military facilities.US President Trump said the Iran ceasefire is still on and that the US is negotiating with the Iranians. He added that Pakistan asked the US not to do Project Freedom during the negotiations.Iran's Top Joint Military Command said the US violated the ceasefire by targeting an Iranian oil tanker and another ship entering the Strait of Hormuz.The situation on Iranian islands and coastal cities by the Strait of Hormuz is back to normal, according to Press TV.In UK local elections, Reform UK has been the clear beneficiary, exceeding 300 gained seats while Labour and the Conservatives suffer, losing 220 and 108 seats respectively, and counting.Looking highlights, include German Balance of Trade (Mar), German Industrial Production (Mar), Canadian Jobs Report (Apr), US Jobs Report (Apr), University of Michigan Survey Prelim. (May). Speakers include ECB President Lagarde, de Guindos, Cipollone, Schnabel, BoE's Breeden, Bailey, Fed's Cook, Waller, and Bowman.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Al Arabiya reported that "the coming hours will witness a breakthrough for the situation of the ships stuck in the strait", spurring pressure in the crude complex.Iran is expected to provide its reply to the US proposal for ending the war to mediators on Thursday, according to CNN, citing a regional source.US President Trump could turn to military action without an agreement with Iran ahead of the China trip, according to Axios, citing US officials.European and US equity futures are modestly firmer; ARM -6.5% post-earnings.DXY downbeat as positive geopolitical headlines pressure crude; Antipodeans lead whilst the JPY lags vs peers.Fixed benchmark made new WTD highs amidst geopolitical optimism, but now off best levels.Looking ahead, highlights include US Challenger Job Layoffs (Apr), US Jobless Claims (May 2), Atlanta Fed GDP, CNB/Banxico Policy Announcement (May), CBR Minutes (May), UK Local Elections. Speakers include ECBʼs Elderson, Schnabel, Lane, BoEʼs Mann, Taylor, Fedʼs Hammack, Williams, Kashkari. Earnings from CoreWeave, IREN, Coinbase, Cloudflare, DraftKings, ACM Research, Datadog, McDonald's.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Iran is expected to provide its reply to the US proposal for ending the war to mediators on Thursday, according to CNN, citing a regional source. US President Trump is optimistic about the Iran framework, and that the timeframe is one week, Fox reported. US President Trump could turn to military action without an agreement with Iran ahead of the China trip, according to Axios, citing US officials.US President Trump's reversal on his plan to help ships go through the Strait of Hormuz came after Saudi Arabia suspended the US's ability to use its bases and airspace to carry out Project Freedom, according to NBC, citing US officials.European equity futures are indicative of a quiet open with the Euro Stoxx 50 future +0.1% after cash closed +2.5% on Wednesday.Looking ahead, highlights include German Factory Orders (Mar), French Balance of Trade (Mar), US Challenger Job Layoffs (Apr), US Jobless Claims (May 2), Atlanta Fed GDP, Norges Bank/Riksbank/CNB/Banxico Policy Announcement (May), CBR Minutes (May), UK Local Elections. Speakers include ECBʼs de Guindos, Elderson, Schnabel, Lane, BoEʼs Lombardelli, Mann, Taylor, Fedʼs Hammack, Williams, Kashkari, Norges Bankʼs Bache, Riksbankʼs Thedeen. Supply from Spain, France. Earnings from CoreWeave, IREN, Coinbase, Cloudflare, DraftKings, ACM Research, Datadog, McDonald's & ShellRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Crude & USD dented, equities & fixed bid after Trump paused Project Freedom and more recently as Axios reports that the US & Iran are closing in on an MOU to end the conflict.Brent below USD 101.50/bbl, ES +0.7%, DAX 40 +2.5%, EUR/USD above 1.1770, Bunds firmer by over 80 ticks.JPY was likely the subject of intervention overnight, falling from 157.00 to a 155.03 low, but has since rebounded back towards the 156.00 mark.NQ +1.3%, outperforming as AMD surges +19% as data centre growth drives a beat.Israeli security/military officials reportedly believe negotiations are a waste of time, and conveyed to the US a desire to resume attacks on Iran.Looking ahead, highlights include Canadian Ivey PMI (Apr), US ADP Employment (Apr), US Treasury Refunding Announcement, NBP Policy Announcement, Speakers include Fed's Goolsbee, Musalem, BoC's Macklem & Rogers.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Energy was pressured by Trump announcing a pause to Project Freedom, though the blockade remains.To the benefit of fixed income and G10 FX against the USD. USD/JPY slumped to a 155.03 low.APAC equities benefited from the above; US and European futures point to a constructive open. NQ leads post-AMD.Israeli security/military officials reportedly believe negotiations are a waste of time, and conveyed to the US a desire to resume attacks on Iran.Looking ahead, highlights include Swedish Inflation Prelim. (Apr), EZ PMIs Final (Apr), PPI (Mar), Canadian Ivey PMI (Apr), US ADP Employment (Apr), US Treasury Refunding Announcement, ECB Wage Tracker (May), NBP Policy Announcement, Speakers include ECB's Lane, Cipollone, Fed's Goolsbee, Musalem, BoC's Macklem & Rogers, Supply from the UK & Germany.Earnings from Arm, AppLovin, Snap, Whirlpool, Walt Disney, Kraft Heinz, Uber, CVS, Telecom Italia, Banca Generali, HelloFresh, Fresenius, Daimler Truck, Lufthansa & Continental.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said the war could go on for another two to three weeks; time is not of the essence.US officials say the military is closer to resuming combat operations than 24 hours ago, Fox reported.Iranian Foreign Minister Araghchi posted, "As talks are making progress with Pakistan's gracious effort, the US should be wary of being dragged back into a quagmire by ill-wishers. So should the UAE."European and US equity futures are broadly firmer; Palantir -2% as commercial revenue fell short of expectations.DXY is flat, JPY experiences volatile two-way action, AUD pressured post-RBA, where it hiked by 25bps, statement was net-hawkish, but Governor Bullock suggests there is room now to wait and see.Gilts gap lower on return from a Bank Holiday, USTs and Bunds relatively contained.Crude pares Monday's gains, to the benefit of XAU.Looking ahead, highlights include US Building Permits Final (Mar), Canadian Balance of Trade (Mar), Canadian PMI (Apr), US PMI Final (Apr), US ISM Services (Apr), US JOLTS (Mar), US New Home Sales (Mar), US RCM/TIPP Economic Optimism (May), New Zealand Unemployment Rate (Q1). Speakers include ECB's Lagarde, Lane, Fed's Bowman, Barr. Supply from Germany. Earnings from AMD, AMC, Strategy, Tempus AI, Shopify, PayPal, Pfizer.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said the war could go on for another two to three weeks; time is not of the essence.US officials say the military is closer to resuming combat operations than 24 hours ago, Fox reported.Iranian Foreign Minister Araghchi posted, "As talks are making progress with Pakistan's gracious effort, the US should be wary of being dragged back into a quagmire by ill-wishers. So should the UAE."RBA announcement saw a near-unanimous vote to hike the Cash Rate, coupled with the net hawkish statement, which highlighted inflation concerns from the ongoing Iranian war.European equity futures point to a lower open, with the Euro Stoxx 50 future down 0.2% after cash markets fell 2.2% on Monday.Looking ahead, highlights include Swiss Inflation (Apr), US Building Permits Final (Mar), Canadian Balance of Trade (Mar), Canadian PMI (Apr), US PMI Final (Apr), US ISM Services (Apr), US JOLTS (Mar), US New Home Sales (Mar), US RCM/TIPP Economic Optimism (May), New Zealand Unemployment Rate (Q1). Speakers include RBA's Bullock, ECB's Lagarde, Lane, Fed's Bowman, Barr. Supply from Germany. Earnings from AMD, AMC, Strategy, Tempus AI, Shopify, PayPal, Pfizer, HSBC, Leonardo, and Infineon.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump posted on Sunday that the US will guide neutral ships safely out of the Strait of Hormuz under “Project Freedom”, beginning Monday morning Middle East time.An Iranian official said any American interference in the new maritime regime of the Strait of Hormuz will be considered a violation of the ceasefire. Iranian Major Abdullahi said any foreign armed forces, particularly the US, would be attacked if they approach and enter the Strait of Hormuz.European bourses mostly lower on geopolitical risk; Autos lag as Trump threatens a 25% tariff on EU cars.US equity futures are modestly mixed. GameStop (-0.8%) is offering to purchase eBay (+8%) for USD 56bln, WSJ reports.G10 mixed against the USD, JPY pares back towards 157 (vs 155.70 trough) with traders on intervention watch.Crude lifted on escalatory Iranian rhetoric and ahead of Trump's speech, energy gains dent XAU.Looking ahead, highlights include Global Manufacturing PMI Finals (Apr), US Factory Orders (Mar), and US President Trump. Speakers include Fed's Williams, BoC's Macklem and Rogers, ECB's Cipollone, de Guindos. Earnings from Palantir, ONSemi, Pinterest, Norwegian Cruise Line, Tyson Foods. Holiday: UK May Bank Holiday.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump posted on Sunday that the US will guide neutral ships safely out of the Strait of Hormuz under “Project Freedom”, beginning Monday morning Middle East time.An Iranian official said any American interference in the new maritime regime of the Strait of Hormuz will be considered a violation of the ceasefire.US President Trump posted at 23:47 BST on May 2nd that he would review Iran's proposal but “can't imagine that it would be acceptable”, Trump added that Iran had “not yet paid a big enough price”.USD/JPY was volatile amid thin liquidity (Golden Week) and recent intervention speculation, with a sharp drop observed at 04:45 BST.European equity futures are indicative of a modestly firmer return from the long weekend, with the Euro Stoxx 50 future +0.2% after cash closed with gains of 1.1% last Thursday.Looking ahead, highlights include Global Manufacturing PMI Finals (Apr), US Factory Orders (Mar), and US President Trump. Speakers include Fed's Williams, BoC's Macklem and Rogers, ECB's Cipollone, de Guindos. Earnings from Palantir, ONSemi, Pinterest, Norwegian Cruise Line, Tyson Foods. Holiday: UK May Bank Holiday.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Conditions in Europe thin amid Labour Day, FTSE 100 dragged by NatWest and AstraZeneca.US equity futures are modestly mixed. Apple (+2.8%) gains after strong results, driven by iPhone sales; SanDisk (-6.1%) dips despite a strong Q3 report.DXY is a touch lower; USD/JPY sank to a 155 handle, potentially on intervention.Fixed income futures are contained in limited conditions, with US data ahead.Crude futures remain elevated heading into another weekend of geopolitical risk.Looking ahead, highlights include US ISM Manufacturing (Apr), Speakers include BoE's Pill, Earnings from Chevron, Colgate, Exxon, Moderna, Estee Lauder.Holiday: Labour Day (Eurozone cash and derivatives closed).Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said Iran is dying to make a deal and stated that Iran cannot be nuclear-armed. He added that he doesn't know if the ceasefire with Iran needs to be broken, but "we may do".The US may allow Israel to target Iran's energy facilities if negotiations fail, according to Channel 12 cited by Al Arabiya.Apple (AAPL) Q2 2026 (USD): EPS 2.01 (exp. 1.95), Revenue 111.2bln (exp. 109.45bln). Raised its dividend by 4% to USD 0.27/shr. Apple provided Q3 revenue growth guidance that beat estimates (+14-17% vs exp. +9%). Shares +2.4% after-market. Japan's Top FX Diplomat Mimura will not comment on intervention speculation and reiterated being in close contact and shares understanding with the US.Looking ahead, highlights include Global Manufacturing Final PMIs (Apr), US ISM Manufacturing (Apr), Speakers include BoE's Pill, Earnings from Chevron, Colgate, Exxon, Moderna, Estee Lauder & NatWest. Holiday: Labour Day (Eurozone cash and derivatives closed).Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk