Mitsubishi UFJ: Market trades cautiously ahead of Trump’s deadline

Golden Ten Data reported on April 7 that as the final deadline approaches, the global oil market and stock index futures have shown little reaction. Derek Halpenny, Head of Global Markets Research at Mitsubishi UFJ Financial Group (MUFG), believes that given that Trump has already extended the deadline for Iran to reopen the Strait of Hormuz multiple times and may do so again, investors have become cautious about trading before Trump’s set deadline. He stated: "I don’t think an agreement can be reached, but an extension seems very likely. (Trump) could easily say, ‘We’ve made progress, we want to reach an agreement, we’ll extend the deadline.’"