🌅 Morning Update | 23/06/2025 ⚡️ The weekend’s main story, shaping the start of Monday’s trading, is the US strike on Iran’s nuclear sites and Tehran’s threats to close the Strait of Hormuz. 📈📉 This triggered sharp market swings: oil prices spiked over 6% intraday before settling around +2%, while futures for the Nasdaq 100 dropped by about 0.7%. S&P 500 futures also dipped slightly. Gold eased by around 0.3% and the dollar index is up about 0.3%. ⛴️ A full closure of the Strait — a critical route for global oil shipments — remains unlikely for now. Even if Iran blocks its territorial waters, commercial traffic could still pass through parts controlled by Oman and the UAE, probably safeguarded by the US Navy. 🔍 Markets remain cautious as any fresh escalation could shake sentiment again. President Trump is due to meet his national security team today at 1:00 p.m. Eastern Time, and traders will be watching his comments closely. 📊 At the moment: 🛢️ WTI oil up about +2% 💹 US100 futures down –0.7% 🪙 Gold down –0.3% 💵 Dollar Index up +0.3% 💶🇦🇺🇳🇿🇬🇧 The euro, pound, Aussie and Kiwi have all regained some ground, although the AUD and NZD remain the weakest performers. 📑 Besides geopolitics, Monday’s session will focus on June PMI figures from major economies. Australia’s flash PMIs showed services at 51.3 (previously 50.6), manufacturing steady around 51.0, and the composite at 51.2 (previously 50.5). Japan’s composite PMI rose to 51.4 from 50.2, supported by strong growth in services and factory output. USD/JPY is currently trading near a five-week high. #MarketUpdate #Oil #Forex #Geopolitics #PMI 🚀