High-stakes week ahead for commodities as Iran deadline, Trump-Xi talks and inflation data loom

A week of sharp diplomatic reversals, military exchanges in the Strait of Hormuz, and a jobs report that defied expectations left markets volatile but resilient amid the ongoing Gulf crisis. The dollar index posted a second consecutive weekly decline, touching pre-war levels of 97.6 as Trump signalled “great progress” in US-Iran talks and US officials confirmed the fragile ceasefire remains intact, reducing the safe-haven bid. The greenback subsequently recovered above 98 after fresh exchanges of fire between US and Iranian forces in the Strait of Hormuz cast doubt over ceasefire stability. April non-farm payrolls came in at 1,15,000, well above…