Asia Open
Trump pauses Project Freedom
EMERGING ASIA
Another round of Trump boasting "Great progress" towards an agreement between U.S. and Iran. The reality is ,detail remain lackluster and no official confirmation from the Iran side should make market participant remain in caution mode. Trump pausing Project Freedom could be a temporary compromise as Iran has been striking the UAE for the past two days and looks set to undermine the broader ceasefire. Within the fog of war, both sides have the incentive to come to an agreement. Iran's oil capacity is reaching its full extent and any closure of oil facility will result in semi-permanent damage and Trump is facing backlash in rising cost of living. market participants are obviously choosing to look at the bright side and see oil lower, risk asset higher in the Asia open.