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Markets are reacting to a Wall Street Journal report that US President Donald Trump may consider bringing the curtains down on the US military campaign against Iran, even if the Strait of Hormuz isn't re-opened.
Risk-taking activities across asset classes were also aided by overnight comments from Fed Chair Jerome POwell, who sought to calm market concerns over near-term inflation risks stemming from higher oil prices.
Brent Crude (Bybit: UKOUSD): -0.2%, yet remains on course for its biggest monthly gain on record (+55.7%)
Bybit's SP500: +0.8%, still attempting to recover from its lowest levels since Aug/Sept 2025
Bitcoin (BTCUSDT): +1.3%, still resisted by its 50-day SMA (Ask TradeGPT: What can traders do when BTC goes above its 50 day SMA?)
Gold (XAUUSD+): +1.1%, testing its 100-day simple moving average (SMA) resistance once more - a key level we had cited since March 23rd.