08:19 AM EDT, 03/25/2026 (MT Newswires) -- Markets are erring on the side of mild optimism on Wednesady that the United States and Iran will be able to strike some sort of agreement that de-escalates the war, said Scotiabank.

That's highly unclear amid signals to the contrary, noted the bank.

Nevertheless, oil prices are down by about US$5-US$6/barrel with WTI below US$90 and Brent below US$100, pointed out Scotiabank. Gold is getting a bounce for a change with about a 2% gain.

Sovereign yields are broadly lower with declines of 4bps-12bps across maturities and regions, stated the bank. Stocks are broadly higher in the 1%+ range across North America futures and European cash markets.

The US dollar (USD) is a touch softer against most crosses as higher-beta crosses gain, added Scotiabank.