We've got more deals on the go than Black Friday
Iran could be the next big deal that drops on the markets and there's a feeling of optimism that it will get done
The latest from Vienna is that Iran and six world powers will be meeting at 19.00 gmt tonight, some three hours ahead of the latest deadline expiry
The talk comes from the Iranian side and their state media and has yet to be confirmed
Brent is still wallowing around the 56/58 lows for July and naturally oil and commodity related currencies are still being pulled along for the ride. USDCAD has fallen back slightly from what looks a half hearted attempt at 1.2800
USDCAD H4 chart
Keeping on commods, mining company Vale has some bearish news for iron ore as their executive director for Ferrous metals, Peter Poppinga says that while the market has underestimated the iron ore mine depletion, the market is likely to be oversupplied through 2015/16. He also sees ore costs to China falling through the end of this year to 2018
Ore is small up on the day but the news may be weighing on the aussie which is trying to hold below 0.7390/95 after breaching 0.7400 once again. Should it do so then we can expect to see some further downside.
AUDUSD H4 chart
