US President Trump spoke on the phone on Wednesday with Saudi Crown Prince MBS, discussed the war with Iran and briefed him on the talks over a possible ceasefire, according to Axios citing souces

President Trump's conversation with Crown Prince MBS about the Iran conflict and potential ceasefire indicates a focus on regional stability, which could influence oil prices and broader market sentiment. If negotiations show progress, we might see a risk-on environment impacting equities and currencies, particularly those sensitive to oil flows and geopolitical tension. Additionally, any easing of conflict could affect inflation expectations, further shaping central bank policies.