Prospects of a peace deal between the USA and Iran, looked more likely overnight and oil prices tumbled. Equity markets pushed up to record highs and bond yields dropped. The positive news came after Iranian talks with China, while a US proposal was said to be under consideration. In the US the ADP Jobs report showed a big jump in private sector jobs added, which bodes well for Friday’s Non-Farm Payroll number. The EUR bounced back above 1.1700, while the GBP headed back towards 1.3600.The positive news from the Middle East was a boost to commodity currencies, with the AUD regaining 0.7200, while the NZD pushed above 0.5950. NZ Unemployment dropped back to 5.3%, from 5.4%, which was some welcome economic news. All eyes remain focused on the Middle East and US Non-Farm Payroll data.
