<ul><li><a href="https://investinglive.com/news/us-march-nfib-small-business-optimism-index-958-vs-979-expected-20260414/">US March NFIB small business optimism index 95.8 vs 97.9 expected</a></li><li><a href="https://investinglive.com/commodities/a-tricky-time-for-the-oil-market-as-the-smart-money-has-moved-on-20260414/">A tricky time for the oil market as the "smart money" has moved on</a></li><li><a href="https://investinglive.com/news/investors-surveyed-in-early-april-were-most-bearish-in-10-months-bofa-20260414/">Investors surveyed in early April were most bearish in 10 months - BofA</a></li><li><a href="https://investinglive.com/centralbank/ecbs-rehn-interest-rate-decisions-are-not-locked-in-beforehand-20260414/">ECB's Rehn: Interest rate decisions are not locked in beforehand</a></li><li><a href="https://investinglive.com/news/three-tankers-were-said-to-pass-through-the-strait-of-hormuz-on-first-day-of-us-blockade-20260414/">Three tankers were said to pass through the Strait of Hormuz on first day of US blockade</a></li><li><a href="https://investinglive.com/forex/usdjpy-pulls-back-as-the-us-dollar-weakens-on-renewed-us-iran-optimism-whats-next-20260414/">USDJPY pulls back as the US dollar weakens on renewed US-Iran optimism. What's next?</a></li><li><a href="https://investinglive.com/news/us-and-iran-negotiations-teams-reportedly-set-to-return-to-islamabad-for-talks-this-week-20260414/">US and Iran negotiation teams reportedly set to return to Islamabad for talks this week</a></li><li><a href="https://investinglive.com/news/spain-march-final-cpi-34-vs-33-yy-expected-20260414/">Spain March final CPI +3.4% vs +3.3% y/y expected</a></li><li><a href="https://investinglive.com/news/what-are-the-main-events-for-today-20260414/">What are the main events for today?</a></li><li><a href="https://investinglive.com/Orders/fx-option-expiries-for-14-april-10am-new-york-cut-20260414/">FX option expiries for 14 April 10am New York cut</a></li><li><a href="https://investinglive.com/commodities/oil-prices-fall-back-on-renewed-hope-of-a-us-iran-deal-20260414/">Oil prices fall back on renewed hope of a US-Iran deal</a></li></ul>It's been a pretty boring session in terms of news and data releases. The only data we got were the final Spanish CPI and the US NFIB Small Business Optimism Index. The Spanish CPI was revised higher, while the US NFIB saw a notable drop in sentiment due to the US-Iran war.
The market reaction was rather muted to both releases as traders remain focused on US-Iran negotiations given that the outcome will shape future growth and inflation expectations.
On the news front, we just got further reports confirming a second round of US-Iran talks later this week. It's not yet clear when, but most reports are looking for Thursday onwards.
This optimism is keeping the markets in risk-on mode as the US dollar stays on the backfoot, stocks continue to get bid, oil prices remain under pressure and precious metals extend the gains on easing financial conditions.
In the American session, we get the weekly US ADP jobs data and the US PPI. The weekly ADP data hasn't been a market-moving release, but it's been pointing to a resilient and even improving labour market.
The US PPI is unlikely to be a market-moving report, much like the US CPI last Friday, because everyone knows it's going to be hot due to the US-Iran war. That's old news. What matters now is what happens with the US-Iran negotiations.
This article was written by Giuseppe Dellamotta at investinglive.com.