USDCAD Setup Faces Iran Deal Headwind

The dominant theme today is geopolitical de-escalation. Progress on a US-Iran deal has sent oil prices below $100 per barrel, weakened the dollar broadly, and lifted risk appetite across equities and commodity-linked currencies [1][2]. The S&P 500 reportedly breached all-time highs on the back of this disinflationary shock, while safe-haven flows reversed sharply [3]. It is worth keeping some skepticism here — Trump's stance on the deal remains cautious, and confirmation has not come through cleanly, which means this rally has a real reversal risk if negotiations stall [4]. On the tech side, the AI narrative continues to drive the conversation…