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US Market Open: Risk on action with crude benchmarks lower amidst hope of a Hormuz deal
Iranian Foreign Minister Araghchi said Iran presented a proposal to the US through mediators this week to reopen the Strait of Hormuz and restart negotiations towards a final deal; Brent -1.6%.Chinese President Xi said China and the US reached a common understanding on many issues.European bourses gain as Iran offers hope of the reopening of the Strait of Hormuz; US equity futures follow suit, NQ +0.6%.DXY is slightly lower, whilst the JPY gains after Trump voiced concerns about a weak JPY to PM Takaichi.Looking ahead, highlights include US Durable Goods Orders (Aug), Atlanta Fed GDP (Q3)…
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