The headline comes from Iran’s foreign ministry spokesperson in saying that Tehran has formulated its diplomatic response to the US but will only announce it in due time. We have to wait and see but there is a mixed reception towards all the headlines from the rumour mill in the past 24 hours.
For now, markets are keeping a bit more optimistic. The dollar is down across the board in the absence of European traders while US futures are nudging higher on the day. EUR/USD is up 0.4% to 1.1555 while S&P 500 futures are up 0.4% on the day now. That as oil prices come off the boil with WTI crude dropping from a high of $114 in Asia to $109 levels now.
Despite the financial market optimism though, betting markets are not convinced. The odds of a peace or meaningful ceasefire of sorts before the end of April are still less than 30% currently.
That being said, the 29% figure is at least still higher than the 18% odds pinned at the weekend. So, make what you will of that.
