Forex
Home›Forex›Major Pairs›Markets eye geopolitical risk after Trump rejects Iran…
Markets eye geopolitical risk after Trump rejects Iran Strait plan
Forexlive says the week began with pressure after Trump rejected a proposal to reopen the Strait of Hormuz within seven days, while the only noted US data point is the Dallas Fed Manufacturing PMI.
Forexlive said the European session has a light data calendar, so trading is expected to stay heavily influenced by recent geopolitical developments.
The outlet pointed to Trump rejecting Iran's proposal that would have reopened the Strait of Hormuz within seven days. It said Trump called the conditions unacceptable, while Iran has maintained it would not back down from the stated requirements.
In the American session, Forexlive highlighted the Dallas Fed Manufacturing PMI, expected to tick slightly lower to 7.8 from 11.6 previously, adding that the release is unlikely to be market-moving given the focus elsewhere.