US Market Open: Crude slips as talks in Doha commence; Markets await the appearance of Fed Warsh at Sintra

Indirect US-Iran technical talks are reportedly underway in Doha, with Qatar and Pakistan acting as mediators. However, US envoy Witkoff and Kushner will not be attending the talks themselves.Iran is reportedly insisting on retaining control over the Strait of Hormuz and could charge ships to transit from mid-August, according to sources. The source added that Iran are not going to discuss other points until Hormuz is agreed.Global equities start Q3 with modest losses but off worst levels, with disappointing NKE outlook weighing on sporting names.DXY trades slightly firmer; G10s are softer across the board, AUD underperforms as metals continue to slump (XAU/USD -0.7%)Fixed income benchmarks weaker but off worst levels; EZ inflation surprise to the downside, briefly lifting EGBs.Crude futures fall as Doha talks begin (Brent -1.0%).Looking ahead, highlights include US ADP Employment Change (Jun), Revelio PLS (Jun), S&P Manufacturing PMI Final (Jun), ISM Manufacturing PMI (Jun), Atlanta Fed GDP (Q2), speakers include ECB's Lane & Lagarde, Fed's Warsh, BoE's Bailey, BoC's Macklem.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk