Tuesday, April 21 2026

Stocks rebound as Iran peace talks in focus; Warsh hearing looms
Stocks rebounded in early trading in Asia on Tuesday as markets took heart ​from reports Iran is considering attending peace talks with the United States in Pakistan, with renewed bets on AI underpinning demand. Investors ‌were also keeping their eyes on a Senate confirmation hearing later for Kevin Warsh, U.S. President Donald Trump’s nominee to lead the Federal Reserve, which Trump has repeatedly criticised for failing to cut rates sooner and more aggressively. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.9%, as South Korea’s Kospi rose 2.1% to hit ​a fresh record high for the first time since the Iran war began. S&P 500 e-mini futures were up 0.1%, while ​Brent crude slipped 0.4% to $95.09 a barrel.
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Oil prices rise 6pc on fears of US-Iran ceasefire collapse
Oil prices jumped around 6 percent in Monday trading on uncertainty over peace talks between the US and Iran after violence flared around the Strait of Hormuz. Brent crude futures settled USD5.10, or 5.64 percent, higher to USD95.48 a barrel. US West Texas Intermediate advanced USD5.76, or 6.87 percent, at USD89.61. Both contracts had tumbled by 9% on Friday for their largest daily declines since April 18 after Iran said that passage for all commercial vessels through the Strait of Hormuz was open for the remainder of the ceasefire. Over the weekend, the US seized an Iranian cargo ship that tried to break through its blockade while Iran said it would retaliate, heightening fears of a resumption in hostilities.
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Gold eases on firmer dollar as investors await clarity on US-Iran talks
Gold prices eased on Tuesday as the dollar firmed, while investors waited ‌to see if the U.S. and Iran are meeting this week for peace talks after renewed tensions over the weekend. Spot gold was down 0.2% at $4,807.91 per ounce, as of 0217 GMT, extending its fall ​from Monday when it hit the lowest level since April 13. U.S. gold futures ​for June delivery were steady at $4,827.30. The U.S. dollar firmed, making greenback-denominated commodities ⁠more expensive for holders of other currencies. Investors are now awaiting “the next headline regarding whether the ​talks are going to go ahead in Islamabad and then if they do, whether a ​ceasefire is extended or even better, a peace deal is done,” said Kyle Rodda.
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Dollar subdued as markets eye ceasefire talks; yen pressured by BOJ delay
The dollar and yen were under pressure on Tuesday, with ​investors poised to buy riskier currencies and hoping for a U.S.-Iran deal to reopen ‌Gulf shipping, while a sticky inflation reading lifted the New Zealand dollar. With the ceasefire set to expire this week, the fate of Iran peace talks remained uncertain as Tehran has yet to decide how to proceed with the diplomatic ​process following a recent escalation in tensions. However, investors think both sides are motivated to ​reach a deal. President Donald Trump said negotiations are happening “relatively quickly” and will ⁠yield better terms than previous agreements. The euro stood at $1.1782 and sterling traded at $1.35225 , both down roughly ​0.1% so far on the day. The risk-sensitive Australian dollar weakened 0.1% to $0.7171 in early trading.
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Oil falls on expectations US-Iran talks likely to proceed, opening supply
Oil ​prices fell on Tuesday, reversing gains in the previous session, on expectations peace talks between ‌the U.S. and Iran will take place this week and allow more supply to flow from the key Middle East producing region. Brent futures declined 95 cents, or 1%, at $94.53, as of 0003 GMT. U.S. West Texas Intermediate (WTI) crude futures for May fell $1.54, or 1.72%, to $88.07. The May contract expires on Tuesday ​and the more-active June contract was down $1.09, or 1.3%, at $86.37. Both benchmarks surged on Monday, with Brent ​up 5.6% and WTI up 6.9%, after Iran again shut the Strait of Hormuz, closing ⁠the key oil transport artery, and the U.S. seized an Iranian cargo ship as part of its blockade of ​the country’s ports. Still, investors are focusing on the likelihood talks this week will result in the extension of the ​existing ceasefire or a final agreement, though the chance of further conflict and disruptions to oil flows remains.
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