On Wednesday, the United States agreed to a two-week ceasefire with Iran in exchange for the reopening of the Strait of Hormuz. This news greatly boosted the market's risk appetite, and the global market showed a pattern of "stocks, bonds, and currencies rising together, crude oil and the US dollar falling together".

        According to CCTV News, on the early morning of the 8th local time in Iran, Pakistani Prime Minister Shahbaz Sharif has invited Iranian and American delegations to Islamabad, the capital of Pakistan, for negotiations. Shahbaz Sharif also stated that the ceasefire between Iran and the United States will take effect at 3:30 am Iran time on the 8th (8:00 am Beijing time on the 8th).

        The ceasefire news drove the US stock market, with overnight S&P 500 index futures rising 2.1%, Bitcoin rising 2.9% to $71334, and Ethereum rising 5.1%.

        In terms of Asia Pacific stock markets, the MSCI Asia Pacific Index rose 1.1% to 239.46 points. The Nikkei 225 index opened 1.8% higher, while the Seoul Composite Index in South Korea opened 5.6% higher.

        Brent crude oil futures opened with a sharp drop of 15%, currently trading at $93 per barrel, after the United States and Iran agreed to a two-week ceasefire agreement.

        Gold continued its upward trend amidst the ceasefire news, with spot gold prices rising by 1.6% to around $4780 per ounce and further rising above $4816 during trading. Silver rose 2.6% to $74.90, while platinum and palladium also rose simultaneously.

        The US dollar index fell 0.6%, the euro rose to 1.1677 against the US dollar, and the Japanese yen rose to 158.71 against the US dollar. Australia's 10-year treasury bond bond yield fell 9 basis points to 4.90%.

  Market doubts still exist

Bloomberg strategist Mark Cranfield pointed out that the initial fluctuations in stocks, oil, bonds, and the US dollar indicate that investors tend to bet that the worst-case scenario will be avoided. But he also emphasized, '; There is still a long way to go before a credible exit path emerges, and even so, crude oil prices may still carry embedded war premiums in the coming months. "

Robert Rennie, Head of Commodity Research at Westpac Banking Corp, said:; The physical system cannot be quickly restored to its original state, and restarting and shutting down oil wells, reallocating personnel and ships, and rebuilding refinery inventory all require several months. "

In addition, Pepperstone strategist Michael Brown wrote in a report to clients:; As has been pointed out multiple times, market participants have been eagerly anticipating any form of positive news in the past few weeks, and are even more eager to see concrete downgrade actions. " However, analysts are also cautious about the sustainability of the ceasefire agreement.