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Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
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Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
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U.S. stock futures rose Monday night following news of a ceasefire agreement between Israel and Iran, announced by former President Donald Trump on Truth Social. Wall Street had already closed higher earlier in the day, buoyed by the geopolitical development and dovish comments from Federal Reserve Governor Michelle Bowman.
S&P 500 Futures gained 0.6% to 6,110.20, Nasdaq 100 Futures advanced 0.8% to 22,238.75, and Dow Jones Futures rose 0.4% to 43,081.0. The ceasefire deal, which Trump referred to as ending “THE 12 DAY WAR,” involves a phased truce beginning six hours after his post, starting with a 12-hour pause from Iran, followed by Israel, and concluding with a formal end to hostilities 24 hours later.
The ceasefire comes after heightened tensions, including U.S. airstrikes on Iranian nuclear sites and a retaliatory missile launch by Iran targeting a U.S. base in Qatar. The attack caused no fatalities, and Trump labeled Iran’s response as “very weak.”
In Monday’s regular session, the S&P 500 jumped 1%, with the Nasdaq and Dow each rising 0.9%. Tech stocks led gains, especially Tesla (NASDAQ: TSLA), which surged over 8% after officially launching its Robotaxi service in Austin, Texas.
Market sentiment also benefited from Fed Governor Bowman’s remarks supporting a potential rate cut in July, provided inflation and employment trends stay favorable. Speaking in Prague, Bowman also downplayed the inflationary impact of Trump’s proposed tariff policies, calling them temporary.
Investors now await key economic signals, including Fed Chair Jerome Powell’s two-day testimony to Congress beginning Tuesday, which could further shape expectations around monetary policy and interest rate direction.
