Hope is up. So is AUD, equites (ES +0.4% , NQ +0.6%) Globex trade now open for the week.

💡 DMK Insight

The Iran nuclear deal is close, but uncertainty remains, and here’s why that matters: With the deal reportedly 95% complete, traders should be cautious about the potential for volatility. The market’s optimism, fueled by weekend news, could quickly shift if any last-minute issues arise, especially with Trump indicating he’s not in a rush. This uncertainty could affect not just forex pairs involving the Iranian rial but also oil prices, given Iran’s significant role in global oil supply. If the deal is finalized, expect a potential drop in oil prices, impacting currencies of oil-exporting nations. Watch for key levels in oil and related forex pairs, as a breakout could signal a shift in sentiment. However, the flip side is that if negotiations stall, we could see a spike in risk aversion across markets. Traders should keep an eye on the USD/IRR and oil prices, particularly any movements around $70 per barrel, which could indicate broader market reactions. The next few days are crucial as we await further developments on the signing timeline.