WS #12799

The dominant narrative remains the US-Iran pause in fighting, now entering a second day with no strikes reported from either side since Friday, leaving oil investors optimistic about a resolution. This has caused oil prices to open lower, with Brent crude easing from above $100/barrel. Singapore's MAS tightened monetary policy for a second consecutive time, increasing the rate of appreciation of the S$NEER policy band 'very slightly' in response to rising oil prices rekindling inflation risk, while noting downside risks remain. Separately, Nvidia is in talks with OpenAI to guarantee $250 billion in financing for a data center project, per WSJ, signaling massive AI infrastructure investment. Japan PM Takaichi is set to hold a press conference at 0900 GMT, which could provide further market direction. The Fed rate hike odds have tripled to 38% for the upcoming meeting, with AI stocks seen as most exposed. Gold rose as the pause in US-Iran fighting eased oil supply risks and inflationary concerns.