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investingLive European markets wrap: US-Iran 'he says, she says' drive volatility, caution

Geopolitical headlines around US‑Iran claims and a planned US transit through the Strait of Hormuz drove risk‑on/risk‑off swings in European morning trade, keeping markets tense. Energy led gains — WTI and Brent rose sharply on supply‑risk concerns — while safe‑haven flows boosted the dollar and prompted likely yen intervention that briefly pushed USD/JPY lower before a rebound. Equities turned defensive (S&P 500 futures pared earlier gains), US 10‑year yields ticked higher, and gold (XAUUSD) fell ~1.2% despite the geopolitical backdrop. Overall market reaction was mixed and cautious, with elevated volatility expected until clarity on the maritime situation and talks emerges.

Category

Gold

Sentiment

Mixed

Event

Market commentary

Reading time

1 min