Global Market Update
The weekend’s major event, the US attack on Iran’s nuclear facilities and Iran’s subsequent threats, has set the tone for Monday’s market session. Initially, this news caused significant uncertainty, leading to a drop in futures contracts for Wall Street indices and a spike in oil prices. However, these movements have since been largely reversed.
Market Movements
Oil prices have gained 1% after the US-Iran escalation, while the US100 has lost 0.2% and the DE40 has declined by 0.22% ahead of the European cash session opening. The main topic of discussion is the potential consequences of the US-Iran conflict, including the possibility of Iran closing the Strait of Hormuz.
Upcoming Events
In addition to the geopolitical tensions, Monday’s session will be influenced by the release of PMI data for June from major economies and several speeches by central bankers. Donald Trump’s meeting with his national security team, scheduled to begin around 13:30 EST, is also expected to impact the market.
Detailed Macro Calendar
- Donald Trump’s meeting with national security team is set to begin around 13:30 EST
Market Analysis
The current market situation is complex, with various factors at play. The Straits of Hormuz, a critical waterway for oil transportation, is a significant concern. Any disruption to oil supply could lead to increased prices and volatility in the market.
Conclusion
In conclusion, the global market is experiencing a significant amount of uncertainty due to the US-Iran conflict and the potential consequences of the Strait of Hormuz closure. As the situation develops, investors will be closely monitoring the PMI data, central bankers’ speeches, and the outcome of Donald Trump’s meeting with his national security team. With oil prices already on the rise, it is essential to stay informed about the latest market movements and analysis to make informed investment decisions.
