Another eventful day! The biggest news today is probably that Trump is willing to ease sanctions on Iran and unfreeze Iran's frozen funds in exchange for Iran making concrete concessions on nuclear issues. There are also rumors in the market that Iran has agreed to suspend uranium enrichment, but there’s no official confirmation from either the U.S. or Iran yet, and the specific terms haven’t been disclosed. The key point of this negotiation is still the sequence of concessions from both sides. Iran wants to first resolve the maritime blockade and sanctions to ease economic pressure, while the U.S. hopes to secure substantial progress on nuclear issues while offering these economic benefits. From the U.S. side’s statements, they believe the shipping traffic in the Strait of Hormuz is increasing, and the blockade and sanctions are still putting pressure on Iran. So, Trump feels there’s still room to negotiate. If the blockade is lifted first and Iran resumes income, the U.S. might lose leverage when demanding nuclear concessions later. If this really happens, it would greatly help ease the current tensions between the U.S. and Iran. The market might also start “imagining” that the next step could be the opening of Hormuz, which would positively impact lowering oil prices—especially during a time when both PCE and Non-Farm Payrolls data are being released. One @Gate, trade more markets.