investingLive Asia-Pacific FX news wrap: Trump, Iran both signal proposals despite stall

India signs New Zealand free trade deal as Modi accelerates global FTA push Preview: Bank of Japan rate decision knife-edge, Japan inflation runs hotter than expected Citi says oil flow disruption could continue, Brent could hit US$150 / barrel China industrial profits surge at fastest pace since September in boost for economy Iran proposes Hormuz deal without nuclear talks in bid to break US negotiation deadlock People’s Bank of China sets yuan reference rate at 6.8579 (vs. estimate at 6.8282) Heads up for Japan market holiday this week, and then three the following week China imports set to overtake exports for first time since 2021 on AI chip surge Trump's 60 Minutes interview has nothing on his war on Iran so far Goldman Sachs raises Q4 2026 oil forecasts. Mid East output loss drive big inventory draw US futures (Globex) are open. Oil up, stocks down on US-Iran talks stalling Iran’s FM said had discussion with Oman on ways to ensure safe transit in Hormuz Strait Reports a cargo ship has been attacked south of Bab al-Mandab Strait. Second front opening An hour after the Globex open Trump will be speaking in an interview on 60 Minutes Northern Japan early morning earthquake. M6.1 Reports that Iran presents three-phase peace framework, with nuclear talks held to last Monday open FX (unlike the closed Strait of Hormuz). Indicative rates 27 April 2026 Trump: Iran war's end will come very soon and it will be victorious Newsquawk Week in Focus: Fed, BoJ, BoE, ECB, BoC, US PCE, GDP and ISM mfg. PMI Trump cancels Pakistan trip for Kushner and Witkoff Pakistan talks: Iran delivered both their demands and reservations about US demands At a glance: Oil opened higher on Globex bids but gains were unwound through the session Trump cancelled envoy trip to Pakistan and maintained naval blockade; Iran kept Hormuz closed, lifting oil in Sunday evening US trade; gold and stocks fell on the news Trump struck a measured tone, saying he was willing to negotiate with Iran by phone Iran passed a new proposal via Pakistani mediators to reopen Hormuz and lift the blockade first, with nuclear talks to follow at a later stage Iranian FM Araghchi visited Oman, meeting Sultan Haitham bin Tariq to discuss ending the war, regional stability and safe Hormuz transit; presented a "workable framework" for a permanent end to the conflict Reports of a cargo ship attacked south of Bab al-Mandab Strait, raising fears of a second front opening in the Iran conflict Axios publication of the Iran-US proposal gave risk assets a boost and trimmed oil prices; regional equities and US equity index futures on Globex gained Lebanon-Israel ceasefire has broken down with both sides continuing missile exchanges USD opened higher early in the session but reversed lower Oil markets opened the week on the front foot, with buyers pushing prices higher on Globex at the Sunday open, but the gains proved short-lived as the session wore on and the initial risk premium was gradually unwound. The weekend had set a cautious tone. Trump's decision to cancel the planned trip by envoys Steve Witkoff and Jared Kushner to Islamabad, combined with Iran's continued effective closure of the Strait of Hormuz, had driven oil higher in Sunday evening US trade, with gold and equities moving lower as investors weighed the implications of a deepening stalemate. Trump's own messaging was less hawkish than his actions implied, however. The US president signalled he was prepared to negotiate with Iran by telephone, a remark that took some of the edge off the geopolitical risk premium and suggested Washington had not entirely closed the door on a diplomatic path forward. Still to come: President Trump is set to convene a Situation Room meeting with his senior national security and foreign policy advisers on Monday to assess the deadlocked Iran negotiations and weigh potential next steps in the conflict. Behind the scenes, Iran had passed a new proposal to the White House via Pakistani mediators, offerin