As it’s usually the case for Mondays, we have a pretty empty calendar today. There are just a few low tier releases that won’t change anything for the market.
The focus today will remain on Middle East where Israel and Iran continue to launch missiles at each other. This is already fading in the back though because from a market perspective, as long as the supply of oil is not impaired, the war can go on without any meaningful macro impact.
Moreover, there are tentative signs that Iran wants to de-escalate as the Iranian Foreign Minister said that they would prepare the ground for a return to diplomacy and negotiations if the Israeli aggression stopped.
Therefore, keep an eye on the headlines as more news on de-escalation could give risk assets a boost.
This article was written by Giuseppe Dellamotta at www.forexlive.com.