With his visit to the Middle East, Trump is turning his attention to other geopolitical matters this week. For markets in general, all of this at least buys further reprieve on the trade front after the US and China settled on a 90-day de-escalation since the weekend. As for the topic itself, Iran continues to defend their stance and not give in though. However, they did at least outline clear terms for accepting a deal but it remains to be seen if Ali Khamenei will be on board if the US can deliver as needed.
The comments are putting a drag on oil though, with WTI crude down over 3% on the day now to $60.62.
This article was written by Justin Low at www.forexlive.com.
