May 26, 2026
US-Iran Framework Agreement Nears
Markets are buzzing with reports that Washington and Tehran are very close to a 60-day framework agreement. The deal would reopen the Strait of Hormuz, end hostilities, release some frozen Iranian assets, and launch time-bound nuclear talks. However, President Trump insists the blockade will remain until a formal deal is signed, adding that he is in no "rush."
Oil Plunges 5% – WTI Tests $90
WTI crude tumbled about 5% to near $90 per barrel on optimism that supply disruptions may soon end.The Strait of Hormuz carries about 2090, with next levels at $87−85. Resistance is now $95-98.
Gold Rebounds to $4,570
Gold recovered some lost ground as the dollar weakened on peace hopes. However, gold is still down about 13% since the conflict began. Resistance lies at $4,600−4,650 support at $4,500 and $4,451. The Fed's hawkish stance remains a headwind.
Dollar Index (DXY) Under Pressure
DXY closed last week near $99.00. Any firm deal could push it lower toward $98.64. Resistance at $99.52 and $100.00.
Key Data This Week
US-Iran Framework Agreement Nears
Markets are buzzing with reports that Washington and Tehran are very close to a 60-day framework agreement. The deal would reopen the Strait of Hormuz, end hostilities, release some frozen Iranian assets, and launch time-bound nuclear talks. However, President Trump insists the blockade will remain until a formal deal is signed, adding that he is in no "rush."
Oil Plunges 5% – WTI Tests $90
WTI crude tumbled about 5% to near $90 per barrel on optimism that supply disruptions may soon end.The Strait of Hormuz carries about 2090, with next levels at $87−85. Resistance is now $95-98.
Gold Rebounds to $4,570
Gold recovered some lost ground as the dollar weakened on peace hopes. However, gold is still down about 13% since the conflict began. Resistance lies at $4,600−4,650 support at $4,500 and $4,451. The Fed's hawkish stance remains a headwind.
Dollar Index (DXY) Under Pressure
DXY closed last week near $99.00. Any firm deal could push it lower toward $98.64. Resistance at $99.52 and $100.00.
Key Data This Week
- US Consumer Confidence (Tuesday)
- US Core PCE (Friday) – Fed's preferred inflation gauge
- US Jobless Claims, GDP second estimate
- Oil: Bearish below $95. Watch for any deal setbacks.
- Gold: Range-bound. Upside limited by Fed hawkishness.
- Dollar: Vulnerable to peace progress.