Overview
- Iran said the Strait of Hormuz is fully open to commercial ships for the rest of the 10-day ceasefire, easing oil supply fears and inflation worries.
- Spot gold rose about 1.5% to $4,860.39 an ounce after the announcement and a weaker dollar.
- The dollar was on track for a second straight weekly decline as investors moved out of assets seen as safer.
- President Donald Trump said a U.S.–Iran meeting may happen early next week as negotiators look to a temporary understanding rather than a full peace deal.
- Deutsche Bank now expects the Federal Reserve to keep rates unchanged through 2026, with LSEG data putting the odds of no cuts by year-end near 69%.