US Market Open: Stocks flat with quiet action elsewhere; USD moves lower into FOMC minutes

US President Trump is waiting for Iran to cave to his economic pressure, but Tehran may be willing to wait even longer, according to POLITICO.A source close to Iran's negotiating team said there had been no direct Iran-US negotiations and that talks with Oman concerned sovereignty over the Strait of Hormuz, according to Fars News.US President Trump announced that the US is to pause the 50% tariffs on Canada.US equity futures muted; SK Hynix ADRs surge following share buyback announcement.DXY lower; JPY outperforms while GBP follows despite a mixed inflation reading.Fixed income benchmarks steady after recent steepening and rangebound energy prices (Brent +1.0%).Looking ahead, highlights include FOMC Minutes (Jul). Comments from ECB's Lagarde, Fed's Musalem and US President Trump. Supply from the US. Earnings from Lowe's.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk