The broader market mood remains more cautious so far on the day.
The broader market mood remains more cautious so far on the day. European indices are lightly changed while S&P 500 futures are down 0.1% with traders and investors still digesting the latest developments from the Middle East.
US-Iran talks continue to stall but there is some hope with reports emerging earlier today that Iran might offer up a concession in “reopening” the Strait of Hormuz before sitting down for nuclear talks. However, that seems to be likely contingent on the US also lifting its naval blockade in the meantime. There was a rehash of the headlines just a little over an hour ago here .
And that coincides a little with a slight push lower in the dollar, even as broader risk sentiment is keeping more reserved. EUR/USD is now up 0.2% on the day to 1.1745, sticking with the bounce off the 200-day moving average (blue line) from last week: The chart reaffirms that buyers are still trying to force their agenda, defending the key support level above. That comes after a gap to the downside at the open today, in which the pair started off at 1.1690.