Mediators between the US and Iran have floated the prospect of a 10-day ceasefire that would lower temperatures between the warring nations in an effort to prompt a return to negotiations, reports CNN citing sources

The proposal of a 10-day ceasefire between the US and Iran could stabilize tensions, particularly impacting energy markets due to the significance of the Strait of Hormuz. While the details are unclear, a de-escalation could lead to lower oil prices and a stronger USD, as geopolitical risk diminishes. Watch how this development influences market sentiment across equities and commodities, especially WTI and gold.