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Market-moving news for currencies and gold, picked and summarised by AI. Follow the source link for the full story.
Iran says Hormuz reopens only if US meets its seven conditions
Positive headlines on US-Iran talks keep appearing, and Al-Arabiya is carrying reports similar to earlier ones that weighed on oil. But Iran security chief Mohsen Rezaei said America's response was not convincing and Iran's seven conditions must be explicitly addressed before the Strait of Hormuz is reopened. These are the same conditions discussed for a long time.
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Trump: Israel aid gets cut off at year-end, oil softens
Trump said on Fox News that aid to Israel gets cut off at year-end. Oil came under pressure, with WTI down $2.42 to $94.05. The market is reading this as a sign the US may make a deal with Iran, though the writer is skeptical that this is what Trump means.
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Swiss October CPI beats forecast at 1.5%, but core stays flat
Switzerland's October CPI rose 1.5% y/y, above the 1.3% expected and the prior 1.0%. Higher energy prices are the main driver. Core CPI was unchanged at 0.5% y/y, so the broader picture looks less alarming.
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US-Iran deal still out of reach despite fresh diplomatic hopes
The week began with optimism that the US and Iran were nearing a deal, and oil tumbled on Monday. Today things are back close to where they started. A senior Iranian official told Reuters that Tehran's conditions must be met for the Strait of Hormuz to reopen. Similar headlines have appeared for almost seven months.
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RBA hikes 25bp to 4.85%, an 18-year high
The Reserve Bank of Australia (RBA) raised its cash rate by 25bp to 4.85%, as widely expected. The board vote was split 6-3. The RBA sees inflation staying above 3% until late 2027.
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