EU Market Open: Risk assets rally as Brent slips to $83 on US-Iran framework peace agreement

The US and Iran have reached a framework peace agreement; the US will lift its naval blockade, whilst the Iranians will reopen the Strait of Hormuz. The Pakistani PM suggested it would be signed in person on Friday, 19th June; Brent Aug’26 -4.3%.The deal includes the termination of military operations on all fronts, including in Lebanon; Israel has yet to comment on the latest deal.Iran’s Deputy Foreign Minister said talks are contingent on the release of assets and the lifting of sanctions; though a US official pushed back on the unconditional fund release, stating that any release is tied to a pay-for-performance deal.APAC stocks rallied following the US-Iran deal announcement; European equity futures are indicative of a strong open.DXY pressured back towards the 99.40 level; Antipodeans outperform given the risk tone.Looking ahead, highlights include German Wholesale Prices (May), EU Industrial Production (Apr), US Industrial/Manufacturing Production (May), and comments from ECB's Lagarde.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk