The US rejected Iran’s peace proposal, as the threat of a renewed kinetic war, draws closer. President Trump meets in the Situation Room tonight to determine the next course of action in the unresolved conflict. Oil prices continue to rise, pushing above US$107/b, as does the US Dollar. The EUR trades around 1.1650, while the GBP regained 1.3400, amidst the UK’s own political turmoil.The stronger reserve has kept commodity currencies depressed, with the AUD trading around 0.7150, while the NZD struggles below 0.5900. Local markets will be looking at today's RBA minutes and Japanese GDP growth data, due for release today. Chinese Industrial Production and Retail Sales data released yesterday. was tempered. All eyes remain on the Middle East.
