Market Talks covering the impact of U.S. Politics and White House policies on companies and markets. Published exclusively on Dow Jones Newswires throughout the day.
0201 ET - The Australian dollar falls against its U.S. counterpart in the Asian afternoon session as traders focus on President Trump's 48-hour ultimatum issued Saturday to reopen the Strait of Hormuz. "The week ahead feels like it could be very consequential for global markets as the U.S.-Iran war potentially comes to a head," Westpac Strategy Group strategists say in commentary. Trump's ultimatum "risks aggravating the escalation cycle, and bringing substantially more damage to regional energy infrastructure," they say. Australian dollar "hasn't taken these events well and is starting the week on the back foot," they add. The Australian dollar falls 0.9% to $0.6962 after earlier touching $0.6958, the lowest intraday level since March 9, LSEG data show. (ronnie.harui@wsj.com)
1941 ET - Oil futures edge lower as traders eye President Trump's deadline to reopen the Strait of Hormuz. Trump on Saturday threatened to "hit and obliterate" Iran's power plants if the country doesn't reopen the Strait in the next two days. "Reluctant diplomacy and the potential for ground troops could exacerbate the situation," Barclays Commodities Research's Amarpreet Singh says in a research report. "Attacks on energy infrastructure highlight the risk of compounding effects of sustained damage to the region's supply outlook on energy prices," the analyst adds. Front-month WTI crude oil futures are down 0.3% at $97.97 per barrel; front-month Brent crude oil futures are 0.4% lower at $111.78 a barrel. (ronnie.harui@wsj.com)
1703 ET - President Trump's deadline to reopen the Strait of Hormuz has placed a 48-hour ticking time bomb of elevated uncertainty over markets, says Tony Sycamore, market analyst at IG Australia. If the ultimatum is not walked back then global equity markets are likely to extend last week's falls as oil prices spike higher again, he says. Iran's power grid is deeply intertwined with its energy sector. Striking major plants would trigger blackouts, crippling everything from pumps and refineries to export terminals and military command centers. This would render the blockade economically and politically unbearable for Tehran, Sycamore says. (james.glynn@wsj.com; X @JamesGlynnWSJ)
1648 ET - Global markets are bracing for a risk-averse start to the week, says Michael Brown, senior research strategist at Pepperstone. Traders have what appears to be a massive risk event when President Trump's 48-hour deadline to re-open the Strait of Hormuz is set to expire, he says. That's going to keep participants on edge, underpinning demand for havens like the U.S. dollar, Brown says. The risk that Iran then retaliates is also on the minds of traders, he says. It's impossible to price a concrete path on how all this evolves, so capital preservation is likely to be the priority, Brown says. (james.glynn@wsj.com; X @JamesGlynnWSJ)
(END) Dow Jones Newswires
March 23, 2026 02:01 ET (06:01 GMT)
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