U.S. President Donald Trump said American officials held “very good” talks with Iranian envoys in New York, reigniting fragile hopes for a new diplomatic solution.
Trump described the three-hour meeting, held during the United Nations General Assembly, as “very productive,” and indicated plans to hold further discussions in the near future. Iran has not yet commented on the talks or disclosed the list of participants.
Oil prices continued their downward trend, influenced by Trump’s latest remarks and reports that Saudi Arabia plans to resume crude oil exports via its east-west pipeline within the coming days. WTI dropped over 10% last week, falling from 106 to 92.60.
Gold prices dipped below the 4300 level overnight, primarily due to comments from Federal Reserve officials. However, after signals emerged indicating easing tensions in the Middle East, prices recovered to around 4350, maintaining momentum toward 4380/4400.
Richmond Fed President Thomas Barkin warned Tuesday that inflationary pressures could take time to subside and might persist at elevated levels for an extended period. He did not explicitly state whether further monetary tightening would be needed.
Boston Fed President Susan Collins posted on LinkedIn, stating that given the labor market’s “improving conditions,” a “slight tightening of the federal funds rate would help ensure inflation returns sustainably to target.”
Plugin Case Analysis
Gold: After retreating below 4300 last night, gold quickly rebounded and is now back near 4350. Overnight, it formed a new demand zone between 4320-4340. Today, we will monitor whether prices can stabilize and rise further from this support, with potential resistance targets at 4370/80.
(Gold 15-minute chart)
Nasdaq: Following a slight pullback yesterday, prices resumed their upward move and hit a new all-time high. Our plugin alerts—yellow liquidity sweep and blue buy stop—both proved successful. We will continue our trading strategy based on yesterday’s setup today.
(Nasdaq 15-minute chart)
Crude Oil: Prices have reached our recent downside target of 95 and are expected to test 90 next, with the overnight low at 92.60. Today, we will watch for signs of a pullback following the rebound; if confirmed, a short position may be considered.
(Crude Oil 15-minute chart)
Key Economic Data and Events Today:
16:00 Eurozone September Manufacturing PMI Flash Estimate
16:30 UK September Manufacturing PMI Flash Estimate
21:45 US September S&P Global Manufacturing PMI Flash Estimate
