Iranian Foreign Ministry says "There is no dialogue between Tehran and Washington", Mehr News report; "there are initiatives from regional countries to reduce tensions"

The lack of dialogue between Tehran and Washington suggests that tensions are unlikely to ease in the near term, which could keep risk premiums elevated in oil and gold markets. Additionally, if regional initiatives to reduce tensions don't bear fruit, it may lead to further volatility in forex and equity markets, particularly for the USD and related assets. Investors should be cautious, as geopolitical tensions often spill over into broader market sentiment.