US President Trump and Russian President Putin held phone call, according to Kremlin media; call lasted over 1.5 hours; Putin proposed ideas on Iran nuclear programme; Trump believes a deal to settle Ukraine conflict is close

The phone call between Presidents Trump and Putin signals a potential thaw in US-Russia relations, especially with discussions around Ukraine and Iran. If a ceasefire in Ukraine is indeed on the horizon, it could influence risk sentiment, benefiting equities while impacting safe-haven assets like gold. Additionally, talks on economic partnerships may affect energy prices and broader market dynamics, particularly in commodities.