Trump agrees to a two-week Iran ceasefire to finalize the final talks, and Bitcoin jumps to 71K.

Before the deadline set by U.S. President Trump for the Iran ceasefire agreement (Taiwan time this morning at 8:00) arrived, traders were weighing developments in the Middle East war. As of the latest news before press time, it was reported that Trump agreed to a two-week Iran ceasefire in order to finalize the negotiations. Bitcoin surged sharply and broke above 71K.

The Trump deadline has arrived! S&P gains in the late trading session

Pakistan’s Prime Minister Shehbaz Sharif said that diplomatic efforts to resolve disputes peacefully were steadily progressing, while he urged Trump to extend the deadline by two weeks. He also posted on social media saying that Pakistan is working to facilitate peace talks and asking Iran, “as a show of goodwill, to open the Strait of Hormuz for two weeks.”

Early Tuesday (4/7) morning, the U.S. struck military targets on Iran’s Qargeh Island. At the same time, Trump urged Iran to reach an agreement before Tuesday night’s 8:00 p.m. deadline (Taiwan time this morning at 8:00), and said that if an agreement was not reached, “all of civilization will perish tonight.”

(Trump: “All of civilization will perish tonight.” U.S. strikes Kag Island; Iran warns that “restraint is over.”)

When Trump declined to reveal his views on the negotiations during a phone interview with Fox News, he said it was because the negotiations were currently intense.

With hopes of a ceasefire boosting sentiment, the S&P 500 erased a 1.2% decline and closed higher slightly, while U.S. crude oil prices (WTI) fell in the late trading session to around $112 per barrel.

As of the latest news before press time, Trump agreed to a two-week ceasefire with Iran to finalize the talks. Bitcoin surged, at one point breaking above 71K.

War boosts inflation; durable goods orders plunge

A survey by the Federal Reserve Bank of New York shows that due to the outbreak of the Middle East war, consumers expect gasoline and food prices to rise, and in March the increase in short-term inflation expectations hit the largest level in a year.

Federal Reserve Bank of New York President John Williams told Bloomberg Television that although he expects higher energy costs caused by the war to push up overall inflation, his outlook on potential price pressures remains basically unchanged.

Chicago Fed President Austan Goolsbee, meanwhile, said that soaring oil prices, along with a decrease in the number of people hired by businesses, has raised concerns about the U.S. economy. Speaking at an event in Detroit, he said, “I’m cautious about it—or you could say I’m nervous!”

A report from the U.S. Department of Commerce showed that February durable goods orders fell by more than market expectations, and the data were from before the outbreak of the war.

Trump agrees to a two-week Iran ceasefire to finalize the talks; Bitcoin rallies to 71K

As of the latest news before press time, Trump agreed to a two-week ceasefire with Iran to finalize the talks. Bitcoin surged, at one point breaking above 71K.

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