GOLD: Gold Nears Oversold on 14RSI
* Gold's price action in the US trading day confirmed that the bears are in charge for the preciou...
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ASIA: Coming Up In Asia Pac Markets On Monday
| 0001BST | 0701HKT | 0901AEST | UK S&P Global, KPMG, and REC Report On Jobs |
| 0100BST | 0800HKT | 1000AEST | Souht Korea First 10-days May Trade Data |
| 0230BST | 0930HKT | 1130AEST | China Apr Inflation Data |
Source: Bloomberg Finance L.P./MNI
IRAN: Iran Stressed Need For Compensation, Sovereignty Over Hormuz
Headlines continue to filter out of Iran in terms of its peace proposal, below via RTRS.
"U.S. PROPOSAL AMOUNTED TO IRAN SURRENDERING TO TRUMP'S EXCESSIVE DEMANDS -IRANIAN STATE MEDIA
IRAN’S PROPOSAL STRESSED THE NEED FOR THE UNITED STATES TO PAY COMPENSATION FOR WAR DAMAGES AND EMPHASIZED IRAN’S SOVEREIGNTY OVER THE STRAIT OF HORMUZ -IRANIAN STATE MEDIA" RTRS
CROSS ASSET: USD Sees Early Bid As Trump Rejects Iran's Peace Proposal
Early Monday trade is seeing the USD better bid, as headlines cross over that US President Trump has reflected Iran's peace offering (see below for more details). The two sides still appear apart on key issues.
- GBP is the worst performer, off 0.40% to 1.3570/75, with fresh political uncertainty tied to PM Starmer's future an additional weight (this follows Labor's defeat in local elections). NZD/USD is down around 0.35% to 0.5940/45. AUD/USD is off 0.30% to 0.7225. EUR/USD is back near 1.1750. Traditional safe haven's JPY and CHF are slightly up versus the USD, USD/JPY siting around 156.60. Focus now will be on cross asset spill over when US equity futures and oil futures open a little later.
- A short while ago, US President Trump posted via Truth Social: Donald J. Trump on Truth Social: I have just read the response from Iran's so-called "Representatives." I don't like it - TOTALLY UNACCEPTABLE! Thank you for your attention to this matter. President DONALD J. TRUMP.
- Earlier, Iran reportedly sent a proposal to the US around ending the conflict: "...stresses the need for an end to the war on all fronts and the lifting of sanctions on Tehran, Iran's semi-official Tasnim news agency said on Sunday, citing an informed source. The proposal emphasizes the necessity of lifting sanctions by the U.S. Office of Foreign Assets Control on Iranian oil sales during a 30-day period and ending the naval blockade on Iran, Tasnim added. Tasnim also quoted the source as saying that Iran's demands include "Iranian management of the Strait of Hormuz if certain commitments are undertaken by the U.S." The source did not specify what those commitments would be." via RTRS
- Also note WSJ/BBG: "Iran offered to transfer some of its stockpile of highly enriched uranium to a third country, but rejected the idea of dismantling its nuclear facilities, the Wall Street Journal reported earlier. Iran disputed the report, according to Iran’s semi-official news agency Tasnim."
