Will ADP move the Dollar?

Important news this week

Wed, 05th Aug 00:45 CET NZ Unemployment Rate.
Fri, 07th Aug 14:30 CET US NFP Report.
Fri, 07th Aug 14:30 CET CA Unemployment Rate.

Risk-on rally accelerates as Oil drops on Iran deal hopes

Risk appetite has strengthened further after comments from US Treasury Secretary Scott Bessent suggested that a new agreement with Iran could be close. Markets interpret the negotiations as reducing the risk of supply disruptions in the Middle East, pushing oil prices lower and improving overall investor sentiment. The prospect of easing geopolitical tensions has fuelled another wave of buying across global equity markets.
The S&P 500 has surged to a fresh all-time high, comfortably above the 7,600 mark, confirming the strong bullish momentum. Other major equity indices are also benefiting from the improved outlook. Meanwhile, the Japanese Yen remains weak, although USD/JPY is still trading at levels where traders remain alert for possible intervention from Japanese authorities. For traders already holding long positions, a break above yesterday's high could provide an opportunity to trail stop losses higher and lock in profits while allowing the trend to continue.

Market talk

Interestingly, cryptocurrencies are not participating in the broader risk-on rally. Bitcoin and most major altcoins remain under pressure despite record highs in equities, suggesting capital is currently flowing primarily into traditional financial markets. Markets will continue to monitor headlines surrounding the US-Iran negotiations, as confirmation of a deal could keep pressure on oil prices and further support equities. At the same time, any setback in negotiations could quickly reverse sentiment and bring volatility back across commodities and risk assets.

Tendencies in the markets

• Equities positive, USD weak, crypto sideways, oil weak, Silver positive, Gold positive.