Overview

• President Donald Trump announced a ceasefire between Iran and Israel following US strikes on Iranian nuclear facilities.
• The fragile truce has held so far without major new strikes, although both sides remain ready to respond.
• Brent crude oil prices fell by over ten dollars from recent highs to about $69 per barrel as supply disruption risks eased.
• Global equity indices rallied—led by a 1% plus gain in the S&P 500—and the dollar weakened as Federal Reserve Chair Jerome Powell left rate cuts on the table pending economic results.
• The Indian rupee surged by 77 paise to around 85.98 per dollar, marking its biggest single-day gain in a month as oil import costs eased.