EUROPEAN SESSION

As is typical for a Monday, the European session calendar is empty. The markets will likely continue to consolidate as we await some breakthrough in the current US-Iran stalemate.

Iran proposed reopening the Strait of Hormuz in exchange for the lifting of the US blockade, with nuclear talks to follow at a later stage. We will see if Trump accepts this idea.

The good news for the markets is that there’s no fighting and both sides continue to negotiate to find a diplomatic solution to the hostilities. There’s always the risk that the war could resume at any moment, but the peak in bad news has passed a long time ago.

AMERICAN SESSION

In the American session, there’s only the US Dallas Fed Manufacturing Index. This is not a market-moving release and won’t change anything for the Fed or the markets, so the data will likely be ignored.

CENTRAL BANK SPEAKERS

• 16:30 GMT/12:30 ET – ECB’s Schnabel (neutral – voter)

This article was written by Giuseppe Dellamotta at investinglive.com.



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