The first step was taken for the agreement that will allow the flow of oil again in the Strait of Hormuz. Investors are hopeful this time, as Iran has not yet tried to stifle the process with negative statements. Bitcoin (BTC) finds buyers above $81 thousand. Oil is in decline. So what’s the latest situation? What are the expectations for today?
Markets latest situation
with the USA Iranian US treasury bonds strengthened as the belief that there would be an agreement between the two countries increased. Investors were focused on the ongoing unemployment claims at the time of writing, but 1,766M was announced against the expectation of 1,799M, meaning the Fed still has an easy hand on the employment mission. Therefore, it may pause interest rate cuts for a longer period of time and remain cautious against rising inflation.
While there was no significant change in the dollar exchange rate as investors evaluated the possibilities of progress in the US-Iran peace talks, the yen stabilized after Japan’s top monetary authority stated that it was ready to oppose speculative movements.
Donald Trump is looking for a way out of this dispute, which is increasing energy costs and damaging his political standing. That’s exactly why they extended the ceasefire indefinitely and now they are trying to create an agreement that Iran can impose on its domestic politics. The number of people who believe that the worst is behind is increasing day by day, as it is challenging for Trump to take more than 2 months to complete the process that was supposed to be over in 4 weeks.
Expectations in cryptocurrencies
Lane from the European Central Bank will make statements at 17:00. At 18:00, NY Fed’s 1-year inflation expectations will be announced. Kashkari from the Fed will make statements at 20:00 and Hammack at 21:05. Meanwhile, Trump will meet with the President of the Federative Republic of Brazil and attend a bilateral meeting and lunch.
at 22:30 Fed’s There will be explanations for his middle name. Williams will participate in a moderated panel on regional economic forecasts at the Hudson Valley Pattern for Progress.
BTC Even though it cannot exceed 83 thousand dollars for now, it can maintain 81 thousand dollars, which is positive. Oil is near $96 and appears eager to erase April gains. The positive statements we will see regarding the US-Iran agreement may accelerate this decline and support cryptocurrencies.
