announcement of a deal<\/a> with Iran drew initial investor relief on Monday, but it also puts Washington on a collision course with Israel.<\/p>\n\u201cWhile it is an important diplomatic breakthrough that should remove a key source of market volatility, the durability of the deal is likely to be tested in the future,\u201d Westpac analysts wrote in a research note. \u201cMany sticking points, including the fate of Iran\u2019s nuclear program, were left to be resolved in subsequent negotiations.\u201d<\/p>\n
Overseas, the pan-European STOXX 600 was up 0.48 per cent in morning trading. Britain\u2019s FTSE 100 gained 0.68 per cent, Germany\u2019s DAX rose 0.65 per cent and France\u2019s CAC 40 advanced 0.80 per cent.<\/p>\n
In Asia, Japan\u2019s Nikkeei closed 0.13 per cent higher, while Hong Kong\u2019s Hang Seng finished down 1.40 per cent.<\/p>\n
Commodities<\/p>\n
Oil prices slid to fresh three-month lows as markets weighed prospects for a resumption of supplies through the Strait of Hormuz alongside weaker physical demand. <\/p>\n
Brent crude futures were down 2 per cent, at US$81.47 a barrel, while U.S. West Texas Intermediate was down 2.3 per cent, at US$78.86 a barrel.<\/p>\n
Reopening of the Strait of Hormuz and winding down the U.S. naval blockade on Iranian ports and vessels is expected to be the more difficult phase of the peace plan, one that will be watched by markets, noted Suvro Sarkar, the head of DBS Bank\u2019s energy research. \u201cAnything other than a clean simultaneous unlock will mean renewed volatility in oil prices.\u201d <\/p>\n
In other commodities, spot gold was up 0.8 per cent at US$4,341.39 an ounce. U.S. gold futures for August delivery gained 0.3 per cent to US$4,363.00 an ounce.<\/p>\n
Currencies and bonds<\/p>\n
The Canadian dollar weakened against its U.S. counterpart.<\/p>\n
The day range on the loonie was 71.32 US cents to 71.52 US cents in early trading. The Canadian dollar was down about 1.85 per cent against the greenback over the past month. <\/p>\n
The U.S. dollar index, which weighs the greenback against a group of currencies, dipped 0.01 per cent to 99.365. The dollar was pegged at $1.4003. <\/p>\n
The euro edged up 0.13 per cent to US$1.1606. The British pound climbed 0.08 per cent to US$1.3424.<\/p>\n
In bonds, the yield on the U.S. 10-year note was last down at 4.448 per cent.<\/p>\n
Economic news<\/p>\n
China retail sales and industrial production<\/p>\n
Canadian existing home sales and average prices for May. The MLS home price index is expected to be down 4 per cent from a year ago.<\/p>\n
8:15 am ET: U.S. ADP employment report<\/p>\n
8:30 am ET: U.S. housing starts and building permits for May<\/p>\n
8:30 am ET: U.S. import prices for May<\/p>\n
With Reuters and The Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"Equities Global markets settled into a more measured tone as the initial excitement over a preliminary U.S.-Iran peace…\n","protected":false},"author":2,"featured_media":740265,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[3244,49,48,3245,3237,3240,2640,3242,3246,166,3247,44,3241,3239,3243,3238],"class_list":["post-740264","post","type-post","status-publish","format-standard","has-post-thumbnail","category-canada","tag-bonds","tag-ca","tag-canada","tag-canadian-dollar","tag-dow-jones","tag-equities","tag-futures","tag-gold","tag-loonie","tag-nasdaq","tag-newnewsletter","tag-news","tag-oil","tag-sd","tag-silver","tag-tsx"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/740264","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=740264"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/740264\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/740265"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=740264"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=740264"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=740264"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}