The Dow Jones Industrial Average added about 90 points, or 0.2%, to climb above 48,500 on Thursday, as Wall Street extended its weekly rally on growing confidence that the US-Iran war is moving toward resolution.

United States (US) President Donald Trump just announced through Truth Social a 10-day ceasefire between Lebanon and Israel, to start on Tuesday at 5 pm Eastern time.

Brown Brothers Harriman’s (BBH) Elias Haddad notes that the recovery narrative is overshadowing the International Monetary Fund's (IMF) weaker growth outlook, with global equities at record highs and the US Dollar (USD) retracing losses.

ING’s Chris Turner argues that while global risk assets are rallying and weighing on the US Dollar (USD), conditions for a sustained Dollar decline are not yet in place.

Brown Brothers Harriman’s (BBH) Elias Haddad notes that the recovery narrative is overshadowing the International Monetary Fund's (IMF) weaker growth outlook, with global equities at record highs and the US Dollar (USD) retracing losses.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, halts its losing streak that began on April 6 and is trading around 98.20 during the European hours on Thursday.

Dow Jones futures advance 0.11% to near 48,720 during European hours on Thursday, ahead of the regular opening in the United States (US). Meanwhile, S&P 500 and Nasdaq 100 futures also rise 0.20% and 0.44% to near 7,070 and 26,480, respectively, at the time of writing.

Deutsche Bank strategists highlight that the S&P 500 has rebounded sharply from its March 30 eight‑month low, rallying over 10% to close above 7,000 at fresh record highs.

BNY's Geoff Yu notes that despite major supply shocks in 2022–2023, private capital flows into United States (US) assets, including Treasuries and equities, remained resilient even as APAC (Asia-Pacific) and European trade surpluses declined.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is continuing its losing that began on April 6 and trading around 97.90 during the Asian hours on Thursday.

Brown Brothers Harriman argues that with risk sentiment likely having bottomed on March 30, the Dollar Index should revert to trading primarily on rate differentials.

DBS Group Research’s Philip Wee notes that the US Dollar (USD) has given back most of its Iran‑war related strength, with the US Dollar Index (DXY) down this month and nearing pre‑conflict levels.

MUFG’s Derek Halpenny argues the US Dollar is under renewed selling pressure as President Trump’s comments on resuming talks and a war being “close to over” support risk assets and lift US equities above pre-conflict levels.

TD Securities strategists note a sharp rally in US rates alongside a risk-on move in equities, with the S&P 500 nearing record highs after softer PPI data. They estimate March core PCE at 0.26% month-on-month.

The US Dollar (USD) remains the worst-performing G8 currency this week. The Dollar Index, which measures the value of the USD against a basket of six peers, trades right above 98.00 at the time of writing, its weakest level since the war in the Middle East started on February 28. 

Dow Jones futures remain flat near 48,750 during European hours on Wednesday, ahead of the regular opening in the United States (US). Meanwhile, S&P 500 and Nasdaq 100 futures also hover near 7,000 and 26,000, respectively, at the time of writing.

Danske Research Team highlights that softer-than-expected US PPI for March did not materially alter market pricing for Federal Reserve cuts, with only a one-in-three chance of easing this year.

Deutsche Bank economists report highlights a strong rally in the S&P 500, which has risen in 9 of the last 10 sessions and now trades just below its record high.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is halting its seven-day losing streak and trading around 98.20 during the Asian hours on Wednesday.

The US Dollar Index (DXY) fell toward the 98.10 region, reaching multi-week lows as softer inflation data and improving global sentiment led to a broad sell-off of the Greenback. Declining Oil prices and easing yields further contributed to the downward pressure.

The Dow Jones Industrial Average (DJIA) gained around 300 points, or 0.6%, trading near 48,500. The S&P 500 rose 1.1% while the Nasdaq Composite jumped 1.8%, led by a broad rally in technology names.

MUFG’s Senior Currency Analyst Lee Hardman notes that the US Dollar index has quickly surrendered its early-week rebound, returning close to pre‑conflict levels as optimism grows over further US–Iran talks and Middle East deescalation.

ING analysts note that the Dollar’s rebound has faded as markets price a de-escalation in US‑Iran tensions and falling Oil prices.

Brown Brothers Harriman’s (BBH) Elias Haddad notes that global risk sentiment has improved as US–Iran diplomacy keeps a ceasefire in place, pushing Brent lower and the US Dollar (USD) softer.

Rabobank strategists note that US stocks have risen even as the Hormuz crisis threatens higher energy costs.

Dow Jones futures rise 0.12% to near 48,500 during European hours on Tuesday, ahead of the regular opening in the United States (US). Meanwhile, S&P 500 and Nasdaq 100 futures also advance 0.16% and 0.28% to near 6,930 and 25,600, respectively, at the time of writing.

Deutsche Bank analysts report that the S&P 500 has recovered above its pre‑strike level as markets price a temporary conflict and potential US–Iran talks.

The US Dollar (USD) holds onto its Monday’s losses amid optimism that the United States (US) and Iran are still in favor of a permanent ceasefire despite the absence of a breakthrough in the first round of talks in Pakistan during the weekend.

US Vice President JD Vance, speaking in an interview on Fox News, struck a cautiously optimistic tone on negotiations with Iran and suggested that meaningful progress has been made even as talks have yet to deliver a breakthrough.

The US Dollar Index (DXY) fell on Monday, as markets digest headlines of failed Iran-United States (US) peace talks over the weekend and reports that US President Donald Trump moved the US Navy to close the Strait of Hormuz, a development that would typically fuel a strong safe-haven bid for the Gre