U.S., Iran Reportedly Near Interim Hormuz Agreement
The United States and Iran are edging toward an interim agreement that could reopen the Strait of Hormuz, a chokepoint handling roughly one‑fifth of global oil and LNG trade. Negotiators remain divided over sanctions relief, uranium enrichment and enforcement, with Iran agreeing in principle to dispose of highly enriched uranium and Washington weighing limited sanctions easing. President Trump said the blockade will stay until a final deal, while both sides draft language for a possible 60‑day cease‑fire extension. Critics warn the framework may not sufficiently curb Iran’s missile or nuclear programs.
PBOC Sets USD/ CNY Reference Rate for Today at 6.8318 (Vs. Estimate at 6.7880)
The People’s Bank of China (PBOC) set today’s USD/CNY reference rate at 6.8318, slightly weaker than the Reuters estimate of 6.7880. The central bank maintains a +/-2% trading band around the fixing, allowing the yuan to fluctuate within that range....
European Stocks Highest Since March 2 as U.S.-Iran Talks Continue; Euro Zone Bond Yields Drop on Peace Hopes
European equities climbed to their highest levels since March 2, with the Stoxx 600 up about 0.8% as optimism grew over U.S.–Iran negotiations. President Donald Trump’s statement that talks were “orderly and constructive” helped push oil prices down more than 5%, lifting...
Singapore: AI and Innovation Anchor Financial Stability Amid Global Uncertainty
At the UBS Asian Investment Conference, MAS Managing Director Chia Der Jiun warned that geopolitical tensions and a regional energy supply shock of over 10 million barrels per day are testing global economic resilience, while rapid AI investment is fueling growth....
New Fed Chair Warsh Faces Hawkish FOMC as Rate Cut Hopes Fade on Iran War
Kevin Warsh steps in as Fed chair as the FOMC minutes reveal a hawkish shift, dropping flexible language and signaling possible tightening if inflation stays above 2%. The committee now leans toward holding rates steady or even raising them, with...