From the man himself:

“I AM PLEASE TO REPORT THAT THE UNITED STATES OF AMERICA, AND THE COUNTRY OF IRAN, HAVE HAD, OVER THE LAST TWO DAYS, VERY GOOD AND PRODUCTIVE CONVERSATIONS REGARDING A COMPLETE AND TOTAL RESOLUTION OF OUR HOSTILITIES IN THE MIDDLE EAST. BASED ON THE TENOR AND TONE OF THESE IN DEPTH, DETAILED, AND CONSTRUCTIVE CONVERSATIONS, WITCH WILL CONTINUE THROUGHOUT THE WEEK, I HAVE INSTRUCTED THE DEPARTMENT OF WAR TO POSTPONE ANY AND ALL MILITARY STRIKES AGAINST IRANIAN POWER PLANTS AND ENERGY INFRASTRUCTURE FOR A FIVE DAY PERIOD, SUBJECT TO THE SUCCESS OF THE ONGOING MEETINGS AND DISCUSSIONS. THANK YOU FOR YOUR ATTENTION TO THIS MATTER! PRESIDENT DONALD J. TRUMP”

What a complete turnaround in market sentiment to what we’re seeing the whole day.

Before this, traders and investors were struggling to find a place for shelter with only the dollar moving up with everything else selling off. Now, it’s the complete opposite in effect.

Oil prices have now plunged with WTI crude oil down over 12% on the day from $100 to $84 levels currently.

Elsewhere, S&P 500 futures were down by around 0.8% earlier have now turned up with 2.5% gains. Meanwhile, the US dollar has slumped across the board with AUD/USD jumping up from 0.6925 to 0.7040 at the moment. Even EUR/USD has turned higher from 1.1490 to 1.1590 currently.

In the bond market, we’re also seeing quite a move too with 10-year Treasury yields dropping from 4.44% to 4.33% at the moment. And in the precious metals space, silver has turned a nightmare start to the day to be up 0.4% to $68 at the moment. Gold has also cut losses considerably from a low of $4,100 to $4,430 now.

Big, big moves.

This article was written by Justin Low at investinglive.com.