[Next Week's Macro Outlook: Market Focuses on Fed Chair Nominee Waller's Confirmation Hearing, U.S.-Iran Tensions Bring Uncertainty to Middle East Dynamics] Over the past week, market expectations for the resolution of U.S.-Iran conflicts through negotiations have continued to rise. On Friday, after Iran's foreign minister announced the opening of the Strait of Hormuz, market risk appetite surged further. As the temporary ceasefire agreement between the U.S. and Iran approaches expiration, Middle East geopolitical dynamics remain a key variable for the market. Attention will also be on next week's Federal Reserve Chair nominee Waller's confirmation hearing, as well as U.S. retail sales data and preliminary April manufacturing PMI figures from the U.S. and Europe.