US-Iran talks fail, Trump blocks strait; USD spikes, gold jumps ~$100.

At the beginning of Monday trading, WTI crude oil surged 10%, gold fell $100, silver fell 4%, and US stock index futures fell more than 1% due to the failure to reach an agreement in US Iran negotiations and Trump's decision to block Iran's maritime traffic. Last Friday, the market was waiting for the outcome of the US Iran negotiations, and Israel had sought to negotiate with Lebanon, which brought hope for the reopening of the Strait of Hormuz. The US dollar index closed lower for the fifth consecutive trading day, ultimately falling 0.14% to 98.67 points, marking its worst weekly performance since January; The benchmark 10-year Treasury yield closed at 4.3400%, while the 2-year Treasury yield, which is sensitive to the Federal Reserve policy rate, slightly fell back to 3.8100%. On Monday (April 13th Beijing time), spot gold opened down more than 2% in the Asian market, trading near $4652 per ounce. The negotiations between the United States and Iran on Saturday failed to reach any agreement, mainly due to the three major issues of reopening the Strait of Hormuz, enriching uranium, and unfreezing Iran's overseas assets. After the negotiations were unsuccessful, both sides once again made tough statements. The United States announced that it would begin to block Iranian ports on the 13th, while Trump considered implementing limited strikes on Iran; The renewed geopolitical tension has weakened the expectation of the Federal Reserve cutting interest rates. The probability of the Fed keeping interest rates unchanged in April is 98.4%. Despite the instability of the US Iran ceasefire agreement, it still brings optimistic expectations for the cooling of the US Iran situation, and international oil prices have fallen by more than 2%. WTI crude oil hit $100 and fell back, ultimately closing down 2.4% at $95.62 per barrel; Brent crude oil ultimately closed down 2.21% at $94.25 per barrel.