Middle East peace deal boosts SA markets
The rand and the JSE were among the beneficiaries of news that the US and Iran have agreed to a peace deal which inclludes the reopening of the Strait of Hormuz. Read the full article in BusinessDay here>
Traders cut SA rate-hike bets on Iran peace deal
Traders have scaled back bets on additional South African interest-rate hikes after a US-Iran peace deal sent oil prices tumbling, potentially reducing inflationary pressures. Read the full Moneyweb article here>
Here is the expected petrol price for July
A sharp drop in oil prices, and the rand marching towards R16/$, is putting South African motorists in line for welcome relief next month—even with the end of the fuel levy relief. Find out more in the Businesstech article here>
Financial Indicators by Sharedata.co.za
Iran, US agree to halt war and reopen Hormuz, sending oil prices tumbling
The U.S. and Iran said they had agreed terms to end their war and reopen the Strait of Hormuz, news that brought relief to markets although the pact may hinge on an end to hostilities in Lebanon and defers talks on Tehran’s nuclear programme. Read the full Reuters report here>
Mood shifts to risk-on as US-Iran peace deal boosts markets
The global financial landscape experienced a notable transformation this week, ignited by the landmark announcement of a peace agreement between the United States and Iran. Read the latest on IOL Business Report here>
Gold Rebound Gains Momentum Ahead of a Pivotal Week for Central Banks
Gold has started the week on a stronger footing (+2.8%), adding to a sharp rebound from recent lows. The precious metal climbed back to around $4,345 by mid-morning London session as investors responded to the announcement of a ceasefire between the US and Iran. Read the full Investing.com article here>