Market Analysis Summary: Progress on U.S.-Iran Peace Deal
Author: Martin Lam
Date: May 26, 2026
Key Takeaways
- President Trump reported positive progress in negotiations with Iran regarding a ceasefire and the reopening of the Strait of Hormuz.
- Iran's chief negotiator and foreign minister are in Doha to discuss a potential deal with the U.S.
- Market optimism surrounding the peace talks has led to an increase in gold prices and a decline in crude oil prices.
- Attention is focused on the U.S. Conference Board Consumer Confidence Index, with expectations of a slight decline.
Global Market Review (May 26, 2026)
U.S. stock markets were closed, leading to a decrease in the U.S. Dollar against major currencies. Gold prices rose over 1% due to optimism about the peace agreement, while WTI crude oil prices fell more than 5% as the market reacted to the potential reopening of the Strait of Hormuz.
Key Events Today
- 22:00 - U.S. CB Consumer Confidence for May
- 22:30 - U.S. Dallas Fed Manufacturing Index for May
- May 27th - Various economic indicators including BoJ Gov Ueda Speech and AU CPI for April
Market Analysis
EUR/USD
Resistance: 1.1655/1.1676 | Support: 1.1600/1.1584
The potential U.S.-Iran agreement has positively impacted the Euro, with the pair closing at a four-day high. A breakout above resistance could lead to further gains.
GBP/USD
Resistance: 1.3564/1.3605 | Support: 1.3438/1.3386
GBP/USD strengthened above 1.3500, reaching its highest level since mid-month, driven by optimism regarding the Strait of Hormuz.
USD/JPY
Resistance: 159.39/159.74 | Support: 158.62/158.28
USD/JPY edged lower as the U.S. Dollar weakened amid geopolitical progress, but remains near a three-week high.
Crude Oil Futures
Resistance: 94.98/96.93 | Support: 88.66/86.74
Crude oil prices fell sharply due to optimism about peace negotiations, entering a "wait-and-see" phase.
Spot Gold
Resistance: 4605/4637 | Support: 4500/4468
Spot gold prices rose but faced retracement pressure as reports indicated divisions in negotiations.
Dow Jones Futures
Resistance: 50806/50920 | Support: 50321/50209
The Dow remains well-supported and is expected to continue moving towards new highs based on positive news.
NASDAQ 100
Resistance: 29886/30285 | Support: 29006/28619
The Nasdaq is nearing record highs, with potential for further gains if positive headlines continue.
Bitcoin (BTC/USD)
Resistance: 77944/78881 | Support: 76087/74912
Bitcoin has seen modest gains amid positive market sentiment, with a crucial breakout needed to extend its winning streak.
Conclusion
The market is currently influenced by geopolitical developments, particularly the U.S.-Iran peace negotiations, which are expected to continue driving movements across various asset classes.