US-Iran Ceasefire Sends Diplomatic Signal, Oil Prices Drop, Trump to Visit Michigan to Discuss Economy

July 27th. President Trump of the United States plans to visit the outskirts of Detroit, Michigan on the 27th local time to deliver a speech, focusing on promoting his economic policies and tariff measures. This trip comes at a time when the U.S. is entering the heated period of the midterm elections, and Trump will defend his economic performance in a key swing state.

Meanwhile, there are signs of easing in the U.S.-Iran conflict. After 13 consecutive nights of mutual strikes between the U.S. and Iran, military actions were temporarily suspended over the weekend to create space for diplomatic negotiations. Influenced by the ceasefire news, international oil prices sharply fell, easing concerns in the market about further impact of the Middle East conflict on the global economy.

The Trump administration stated that the U.S.-Iran pause in actions aims to facilitate diplomatic engagement between the two sides and seek a more long-term peaceful agreement. However, the previous escalating military actions have significantly affected the energy market and global risk assets, and the subsequent developments in the situation will remain a market focus.

Furthermore, the U.S. Department of Defense has adjusted the recent U.S. military casualty statistics in the U.S.-Iran conflict. Four U.S. soldiers who died recently are no longer included in the total Iran war death toll but have been categorized separately.