Iran said the US’s latest proposal has narrowed some differences, but major gaps remain over its uranium stockpile and fees through the Strait of Hormuz, leaving a negotiated settlement uncertain even as diplomacy edges forward.
Currency markets are tracing divergent paths this year. The offshore yuan has strengthened about 2.5% against the dollar, while the South Korean won is down roughly 5.2%, the Indonesian rupiah has weakened about 6% and the Indian rupee has slid some 6.7%, underscoring uneven macro and policy backdrops across Asia.
Brussels’ growth outlook singles out Spain as the bloc’s outperformer, with the European Commission forecasting 2.6% expansion in 2026 — nearly three times the euro‑area average of 0.9%. Wage growth across the eurozone cooled to 2.5% in 1Q26 from 2.9% in the prior quarter, and ECB President Christine Lagarde said inflation expectations remain broadly contained.
European electric‑vehicle markets are seeing a China effect: Chinese brands such as BYD now account for about 15% of EV sales in Europe, a first for the region and a sign of intensifying competition for legacy automakers.
Risk appetite has improved on hopes a diplomatic end to the Iran conflict could be negotiated — US stocks closed out their best week since 2023. Markets were constructive in early trading: European equities rose about 0.7%, while mainland China and Japan gained more than 1%. US futures pointed to a modestly positive open and Brent crude traded up roughly 2.5% near $105 a barrel.
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