FX markets

Daily Market View 06-03-2026

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1:13

Brent holds at $85 a barrel, as US said to be "considering everything"

1 Minute Market Rundown

Brent Crude holds steady at $85 a barrel following US admin remarks that lowering the price is a key concern
Trump says Iran needs "total clear out" in another alarming signal of the potential longevity of the war
US Non-Farm Payrolls for February release today, perhaps the only release that the war cannot overshadow

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Yesterday marked the closest we have come to a single unified idea of the goals of the US in this conflict, namely, a total regime change with Trump "personally involved in picking Iran's next leader" (direct quote).

That is certainly an expanded scope from what many initially thought was a conflict to destroy the Iranian's ability to create nuclear warheads and it further suggests that this conflict, while intense, may have longer to go.

Screenshot 2026-03-06 072915

The Strait of Hormuz remains blocked, with traffic nearly reaching 0 yesterday and the promised convoys seem some way off yet. The statement from the admin yesterday regarding energy prices was appreciated, but its just talk in what is a developing crisis.

Amongst all of this, US jobs data releases today at 13:30 GMT, giving perhaps some respite from the constant war talk.

Markets Today

*Please be aware the below rates represent the market rate at 8:00 AM, contact your Caxton dealer or check online for a live quote.

Today's Economic Calendar

Major Economic Releases (All times in GMT)

13:30- US Non-Farm Payrolls (Feb)

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