Iran reportedly sends latest proposal to US

Citing Iranian sources, several news outlets reported on Friday that Iran has prepesented a new proposal to end the war and a response to the United States' (US) amendments through Pakistani mediators on Thursday.

Market reaction

With the immediate reaction to this headline, the US Dollar (USD) weakened against its rivals. At the time of press, the USD Index was down 0.23% on the day at 97.88. Meanwhile, US stock index futures continue to trade mixed, with the S&P 500 Futures rising 0.15% and the Nasdaq Futures losing about 0.2% on the day.

May 1, 2026

Gold heads for second weekly loss as higher-for-longer rate bets dominate

Gold (XAU/USD) edges lower on Friday, heading for a second straight weekly decline as higher-for-longer interest rate expectations continue to dominate price action amid rising inflation concerns driven by elevated Oil prices.

Fed's Hammack: Uncertainty around economy, policy path has risen

In a statement published on Friday, Federal Reserve Bank of Cleveland President Beth Hammack explained her decision to dissent against the Fed keeping an easing bias in the policy statement, saying that a "clear easing bias" is no longer appropriate given the current outlook.