Global markets continued to stabilise overnight, with US equities consolidating further, following the massive gains achieved as a result of the ceasefire. The agreement appears to be holding, despite some reported breaches, allowing the US to plan their exit strategy. The US may leave this conflict, but the balance of the Middle East is now changed and regional nations may be left to handle the fall-out. US markets are recovering fast, with the latest GDP number reflecting strong growth and the PCE inflation indicator confirming stable inflation. US Bond Yields resumed their downward trajectory, as the safety flows to the US Dollar, continues to unwind. The EUR surged above 1.1700, while the GBP traded 1.3440.Commodity currencies were also beneficiaries of the softer reserve, with the AUD fast approaching 0.7100, while the NZD climbed back above 0.5850. The Middle East remains the focus as the energy crises which has had dramatic impact on local economies, business and consumers.
