WS #13765
No material new developments in the last 30 minutes. The dominant US-Iran/Strait of Hormuz narrative remains unchanged, with no new data points or counter-signals surfacing. The previously noted de-escalatory signals (Trump's 'low-keying it' comments) and the US jobs report impact on gold remain the most recent actionable items, but neither has been updated in this window. As such, the situation is STABLE with no new market-moving information to report.
Topics
Key developments
- Iran reiterates Hormuz closure until US meets sweeping conditions; Houthis strike Saudi Aramco refinery
- US nonfarm payrolls fall 23,000 in July, cutting September rate hike odds; gold hits seven-week high above $4360
- Alibaba to require revenue-sharing for next open-source Qwen model