The risk sentiment remains under pressure after the comments by China about the countermeasures against the US tariffs. Thus, the AUD/USD and the USD/JPY pairs will be under our attention.
US leader: America is open to a new deal with Iran
American leader Donald Trump told that his country is still open to coming to a compromise with Iran as to blocking its nuclear-weapons program, several days before sanctions on Iran’s shipping and energy sectors kicked back in.
Trump told that America’s goal is to force the Iranian government into a clear choice, referring to the resumption of sanctions against this Middle Eastern country on Monday. Trump told that the choice is to either give up its destructive behavior or keep moving towards a devastating economic disaster.
American leader stressed that the sanctions were actually aimed at the country’s regime, and not at the suffering Iranian population.
Trump told that for this reason, the sale of drugs, food, medical devices as well as agricultural commodities to this Middle-Eastern country has long been, and still remains, absolutely exempt from the sanctions.
US leader’s decision to break up with the 2015 nuclear pact irritated Iran and also other countries, which discussed the pact and who still tell that it’s the best opportunity to have the Islamic Republic’s nuclear ambitions tamed. However, America has rebuffed them and even moved further with its sanctions plan, telling that nations, businesses, and financial institutions around the globe will decide to do business rather with America than Iran.
The strategy of the current US presidential administration is to punish the Middle Eastern country severely enough to force it to negotiate a permanent end to its nuclear program and also what the American dubbed its “malign behavior” in the region.
On Friday, Secretary of State Michael Pompeo told that America would provide up to 8 temporary waivers to countries to keep buying Iranian crude after sanctions resume on Monday.
The given decision on waivers turns out to be a part of the US cabinet’s balancing act to get tough Iran’s authorities, while trying not to let global crude prices surge.
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Welcome to Tuesday, people! Here’s your markets update ahead of the European trading session.