- Predicts that oil prices will drop back to or below previous levels
- China has not responded to the blockade on the Strait of Hormuz
The headline comment is pretty much a rehash of what he had to say overnight. That being: “I view it (the war) as very close to over. If I pulled up stakes right now, it would take them 20 years to rebuild that country. And we’re not finished. We’ll see what happens. I think they want to make a deal very badly.”
He also earlier in the day went on to say that he isn’t thinking about extending the ceasefire period, as he does not believe that it will be necessary to do so. That before giving markets much hope in saying that: “I think you’re going to be watching an amazing two days ahead. I really do.”
For now, the optimistic backdrop is set in place as we await the next round of negotiations on Thursday.
Markets are not building further from the overnight rally, with S&P 500 futures more tepid today and down by 0.1% currently. In the major currencies space, the dollar is keeping more mixed across the board. That being said, the changes are relatively light among dollar pairs. EUR/USD is down 0.1% to 1.1780 while USD/JPY is up 0.1% to 158.95 and AUD/USD up 0.2% to 0.7138 at the moment.
