Iran stops message exchanges with US over attacks on Lebanon – Tasnim

Eren Sengezer FXStreet

Iran's Tasnim News agency claimed on Monday that Iran's negotiating team is stopping message exchanges with the United States (US) through mediators in protest against attacks on Lebanon.

"There will be no talks until Iran's demands on cessation of Israeli operations in Lebanon and Gaza are met," Tasnim said, per Reuters.

According to the outlet, "the resistance front and Iran have set their agenda to completely block the Strait of Hormuz and activate other fronts, including the Bab El-mandeb Strait."

Market reaction

The US Dollar (USD) gathered strength against its major rivals with the immediate reaction to this headline. At the time of press, the USD Index (DXY) is up 0.25% on the day at 99.20.

Meanwhile, the barrel of West Texas Intermediate was last seen trading near $91, rising about 5% on the day.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

GBP/USD regains 1.3450 as USD shrugs off Iran risks

EUR/USD inches higher to near 1.1450 despite Mideast tensions

Gold flat lines around $4,000; bearish bias remains as inflation fears lift Fed hike bets

Ethereum remains fragile underneath the surface despite outperformance

Ethereum's outperformance over the past week shows it's gaining relative strength against other top cryptocurrencies, but under the surface, key metrics indicate its rise remains fragile. Between last week and Wednesday, ETH recorded double-digit gains, outperforming fellow crypto majors Bitcoin, XRP, and Solana, before the broader market began to correct on Thursday.

Cardano holds steady as Van Rossem hard fork goes live

Cardano (ADA) stalls at $0.165 after a modest rebound in the previous week. The activation of the Van Rossem hard fork on Saturday marked Cardano’s first protocol upgrade approved entirely through onchain governance, which introduced Protocol Version 11 with improvements aimed at reducing smart contract costs.

-0.4%: Why the biggest CPI drop since 2020 couldn't buy back a single cut

The June CPI fell 0.4% on the month, the largest one-month decline since April 2020, dragging the annual rate to 3.5% from May's 4.2% and snapping a three-month acceleration streak. Core prices went nowhere, flat on the month and down to 2.6% YoY, both under consensus.