Client Portal
Open account

Markets Eye PMIs as US-Iran Peace Progress Eases Fears

(By ATFX Analyst Team)

Key Takeaways

US-Iran high-level talks show promise, as the US announced a 60-day sanctions waiver for Iran following the first round of talks under a preliminary peace agreement. This news lifted market sentiment.

Key focus today: Preliminary June manufacturing and services PMI data, especially from the Eurozone, UK, and US. The Eurozone manufacturing PMI is expected to show modest expansion, while the US manufacturing PMI is forecast to drop to 54.8 from 55.1.

 

Global Market Review 23/06/2026

  • Wall Street closed mixed Monday: Dow up 0.29%, S&P 500 down 0.37%, Nasdaq down 1.3%. Treasury yields and the Dollar Index rose slightly. Gold rebounded as US-Iran talks improved sentiment, while WTI crude slipped 2% after early gains.

 

Key Events Today:

  • 07:00 AU Manufacturing & Services & Composite PMI Flash JUN **
  • 08:30 JP Manufacturing & Services & Composite PMI Flash JUN **
  • 15:30 EU GERMANY Manufacturing & Services & Composite PMI Flash JUN **
  • 16:00 EU Manufacturing & Services & Composite PMI Flash JUN **
  • 16:30 GB Manufacturing & Services & Composite PMI Flash JUN **
  • 21:45 US Manufacturing & Services & Composite PMI Flash JUN ***
  • 22:00 US Richmond Fed Manufacturing Index JUN **

June 24 (GMT+8)

  • 04:30 API Crude Oil Stock Change ***
  • 09:30 AU CPI YoY MAY **
  • 16:00 EU GERMANY Ifo Business Climate JUN **
  • 20:30 US Building Permits Final MAY **
  • 22:00 US New Home Sales MAY **
  • 22:30 EIA Crude Oil Stocks Chang **

 

Markets Analysis 23/06/2026

  • Resistance: 1.1452 / 1.1471
  • Support: 1.1409 / 1.1395

The US dollar’s strength, fueled by optimism over US-Iran talks, weighed on EUR/USD. ECB President Lagarde noted that Eurozone inflation is manageable, and markets expect further rate hikes this year.

Analyst View: EUR/USD remains near three-month lows, with modest rebounds likely. Watch key support at 1.1411/1.1400 and PMI guidance today.

  • Resistance: 1.3288 / 1.3306
  • Support: 1.3191 / 1.3174

The pair rose to 1.3270 after UK PM Starmer’s resignation, while US-Iran developments offset political changes. Market attention now shifts to Burnham’s likely premiership and his policy stance.

Analyst View: GBP/USD may rebound but faces limits due to political uncertainty, with 1.3200 seen as key support.

Bias: Vulnerable rebound.

  • Resistance: 161.89 / 162.05
  • Support: 161.25 / 161.12

USD/JPY remains above 161 after the US dollar rally, with traders on alert for potential Japanese government intervention as the finance minister emphasized readiness to tackle volatility.

Analyst View: In Tuesday’s Asian session, USD/JPY was at 161.55, nearing the July highs. Watch for resistance at 161.95.

Bias: Cautious at highs

  • Resistance: 76.20 / 77.73
  • Support: 71.01 / 69.79

US-Iran talks eased crude supply concerns, pushing WTI down to just above $74 on Monday, despite initial gains.

Analyst View: Crude prices are near last week’s lows, facing pressure from fundamental and technical factors. The $73 level is crucial; a break below it could target $71 next.

Bias: Lower-level consolidation

  • Resistance: 4245/4298
  • Support: 4160/4118

  • Resistance: 66.52/67.70
  • Support: 62.98/61.50

Precious metals dipped early Tuesday as traders reassessed US-Iran talks, easing oil-driven inflation fears and reducing expectations for quick central bank action.

Analyst View: Gold prices faced resistance at the 10-day moving average despite a slight rebound yesterday and have given back some gains this morning. The focus remains on support levels at $4,160 and $4,118, as prices haven’t broken their more than one-week lows.

Bias: Mild momentum

  • Resistance: 52076 / 52338
  • Support: 51404 / 51202

US stock indices closed mixed on Monday. Driven lower by weakness in tech stocks, the healthcare and industrial sectors performed strongly, helping the Dow log a gain of over 100 points as markets viewed the latest progress in US-Iran talks positively.

Analyst View: The Dow rebounded slightly yesterday, staying within its recent record-high range. Attention is on whether it will challenge the 52,000 mark today, with key US flash manufacturing and services PMI data on the horizon.

Bias: Trading at high

  • Resistance: 30506 / 30756
  • Support: 29922 / 29622

Large-cap tech stocks declined on Monday, with SpaceX shares dropping more than 16% amid valuation concerns and doubts about the justification for hyperscale AI infrastructure spending. This affected market sentiment and Nasdaq.

Analyst View: The Nasdaq opened higher yesterday but reversed course, closing lower. Despite the volatile market sentiment, the index remains within its relatively high range. It currently needs to hold above the 30000 psychological level to sustain this upper band.

Bias: Consolidation at high levels

  • Resistance: 65327/66305
  • Support: 63175/62213

Bitcoin holds above $64,000 amid progress towards a lasting US-Iran peace deal during the first round of talks in Switzerland.

Analyst View: BTC/USD reached a one-week high yesterday but lost over half its gains after hitting resistance above 65500. With prices back near key daily moving averages, the short-term outlook suggests narrow, range-bound consolidation.

Bias: Range Consolidation

Enjoy trading! The content is for reference only. Please ensure that you understand the risk.

 

About the author

Martin Lam

 

Martin Lam is ATFX Chief Analyst for Asia Pacific, with over 20 years of experience in global forex and investment markets. He holds a degree in Finance and Economics from Deakin University and has held senior roles at leading FX brokerage firms.

More from Martin Lam

This market commentary and analysis has been prepared for ATFX by a third party for general information purposes only. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell as it does not take into account your personal circumstances or objectives, and should therefore not be interpreted as financial, investment or other advice, or relied upon as such. You should therefore seek independent advice before making any investment decisions. This information has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. We aim to establish and maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. The market data is derived from independent sources believed to be reliable, however we make no representation or warranty of its accuracy or completeness, and accept no responsibility for any consequence of its use by recipients. Reproduction of this information, in whole or in part, is not permitted.

Recent News
Start Trading Now !

Try our demo account for free to learn trading. When you’re ready, switch to a live account and start trading for real.

Open Live Account
Open Demo Account
Popular posts
Learn more
with ATFX
Related Content

© ATFX.COM. All rights reserved.

ATFX is a co-brand shared by a group of entities including:

AT Global Markets (UK) Ltd is authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom with registration number 760555. The Registered Office: Tower 42, Leaf 35C, 25 Old Broad Street, London EC2N 1HQ, United Kingdom.

AT Global Markets (Australia) Pty Ltd is authorized and regulated by the Australian Securities and Investments Commission with AFSL number 418036. The registered office: Tower 2 Darling Park, Level 16, 201 Sussex Street, Sydney NSW 2000.

AT Global Markets SA (Pty) Ltd is licensed in South Africa by the Financial Sector Conduct Authority with FSP license number 44816 and a licensed OTC Derivatives Provider. The registered office: Office 1801B, 18th Floor Portside Tower, 4 Bree Street, Cape Town, Western Cape 8001. ATFX SA and ATFX Connect are trading names of AT Global Markets SA (Pty) Ltd.

ATFX Global Markets (CY) Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license no. 285/15. The Registered Office: 159 Leontiou A’ Street, Maryvonne Building Office 204, 3022, Limassol, Cyprus.

AT Global Markets Intl Ltd is authorized and regulated by the Financial Services Commission with license number C118023331. The Registered Office: G08, Ground Floor, The Catalyst, Silicon Avenue, 40 Cybercity, 72201 Ebène, Republic of Mauritius.

AT Global Markets (SC) Limited is licensed by the Seychelles Financial Services Authority as a Securities Dealer with License No. SD093. The Registered Office: Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles.

AT Global Financial Services (HK) Limited is authorized and regulated by the Securities and Futures Commission in the Hong Kong with license number BUM667. The Registered Office: 17/F, 80 Gloucester Road, Wan Chai, Hong Kong.

ATFX MENA Financial Services LLC is regulated by the Capital Market Authority (CMA) in the United Arab Emirates with Category 5 license number 20200000078.

EMERGING MARKETS is regulated by the Jordan Securities Commission authority as an Introducing Broker license number 643 and is the regulated entity in the Hashemite Kingdom of Jordan.

ATFX is a trade mark of AT Global Markets INTL LTD a company registered in Mauritius under FSC and all services in the Hashemite Kingdom of Jordan is offered through its Introducing Broker.

AT Global Markets LLC is a Limited Liability Company in Saint Vincent and the Grenadines with company number 333 LLC 2020. The Registered Office: Euro House, Richmond Hill Road, Kingstown, St. Vincent and the Grenadines.

ATFX (Cambodia) Company Limited in Cambodia is regulated by the Securities and Exchange Regulator of Cambodia with the license number 040.

HIGH RISK INVESTMENT WARNING: Trading Foreign Exchange (Forex) and Contracts for Differences (CFDs) is highly speculative, carries a high level of risk and may not be suitable for all investors. You may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin. Please read the full Terms of Business.

Restricted Regions: AT Global Markets LLC does not provide services to residents of certain countries, including but not limited to Canada, Japan, Democratic People’s Republic of Korea (DPRK), Iran and United States of America (USA), or any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

ATFX

Restrictions on Use

Products and Services on this website are not available for Hong Kong investors and not related to any corporation licensed by the Securities and Futures Commission in Hong Kong.

All the information and materials posted on this website should not be regarded as or constitute a distribution, an offer, solicitation to buy or sell any investments.

使用限制：本網站的產品及服務不適用於香港投資者及與任何香港證監會持牌公司無關。

網站內部的信息和素材不應被視為分銷，要約，買入或賣出任何投資產品。

ATFX

Restrictions on Use

Products and Services on this website are not suitable for the UK residents. Such information and materials should not be regarded as or constitute a distribution, an offer, or a solicitation to buy or sell any investments. Please visit https://atfxgm.eu/en/ to proceed.

ATFX

Restrictions on Use

AT Global Markets (UK) Limited does not offer trading services to retail clients.
If you are a professional client, please visit https://atfxconnect.com