All about the peace process – North American Mid-Week Market Update

Geopolitical progress in US–Iran talks (a Memorandum of Understanding giving 30 days to reopen the Strait of Hormuz) has driven a risk-on repricing across markets. Oil (WTI) fell sharply to the low-$90s as war-risk premia faded, helping North American indices surge to fresh highs (Nasdaq ~30,000). The US dollar shows mixed action (DXY testing the 99.00–99.50 zone) while the Canadian dollar is losing momentum as lower crude weighs on the loonie. USD/CAD remains range-bound between 1.3550–1.3950 and is approaching micro-resistance at 1.3850; key supports sit near 1.3630–1.3660 and 1.3550. Overall tone: optimistic for equities and risk assets, with sensitivity to the final peace agreement.