Traders are stepping into Monday after a tense weekend, but the market reaction is surprisingly calm, with a slight optimistic tone.
The main focus remains on developments around Iran. Over the weekend, reports emerged that Iran may be pushing for a 45-day ceasefire. At the same time, Donald Trump warned that if no deal is reached by Tuesday, the situation could escalate significantly.
That makes Tuesday the key day of the week. Markets are clearly waiting for clarity, even if only short term.
Looking at today’s macro calendar, it’s very light. Some markets remain closed, but the US is open, and the main data point will be ISM services PMIs.
As for market behavior, equity futures are opening on the green side. The gains are not aggressive, but they show that investors are leaning toward a more positive scenario for now.
On the currency market, movements are relatively muted. Antipodean currencies are gaining, while the Japanese yen is weakening. The US dollar is also slightly softer, but without any strong momentum.
In commodities, we see a small pullback in precious metals, especially Silver. Oil, on the other hand, remains elevated after Friday’s strong move. There are no clear signs of a retracement yet, which suggests that the market is still pricing in risk.
Cryptocurrencies are one of the stronger areas today. Bitcoin and Ethereum are pushing higher, with Bitcoin approaching the $70,000 level. This is a notable move, especially considering the broader uncertainty.
Overall, markets are starting the week in a relatively stable mood, but the real test will come on Tuesday. Until then, traders are likely to stay cautious and reactive to headlines.