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Asian stock markets : https://tmsnrt.rs/2zpUAr4

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Trump says Iran and Israel agree to ceasefire

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Wall St futures rise, Nikkei set to open higher

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Dollar extends pullback, Treasury futures slip

By Wayne Cole

SYDNEY, June 24 (Reuters) - Wall Street futures rose and

the dollar eased in Asia on Tuesday after U.S. President Donald

Trump said Iran and Israel had agreed to a ceasefire, sending

oil prices into a deep dive as concerns over supply disruptions

ebbed.

Writing on his Truth Social site, Trump implied a ceasefire

would go into effect in 12 hours and then the war would be

considered "ended".

Oil prices fell another 4%, having already slid 9% on Monday

when Iran made a token retaliation against a U.S. base which

came to nothing and signalled it was done for now.

However, both Israel and Iran continued their missile

strikes, making investors cautious about piling into risk assets

just yet.

"This lifts some of the geopolitical uncertainty surrounding

the markets, although, for the most part, equity investors have

been kind of shrugging the uncertainty off," said Jack Ablin,

chief investment officer at Cresset Wealth Advisors in Palm

Beach, Florida.

"It certainly sounds like a significant milestone, and I

hope it's true."

With the immediate threat to the vital Strait of Hormuz

shipping lane seemingly over, U.S. crude futures fell

another 4% to $65.75 per barrel.

S&P 500 futures gained 0.3% in early trade, while

Nasdaq futures added 0.5%.

Nikkei futures traded up at 38,905, well above the

cash close of 38,354.

Futures for 10-year Treasuries fell 6 ticks as the

need for safe havens lessened, while interest rate futures

slipped as investors rowed back a little on expectations

for rate cuts.

The market had rallied on Monday after Federal Reserve Vice

Chair for Supervision Michelle Bowman said the time to cut

interest rates was getting nearer as risks to the job market may

be on the rise.

Fed Chair Jerome Powell will have his own chance to comment

when appearing before Congress later on Tuesday and, so far, has

been more cautious about a near-term easing.

Markets still only imply around a 22% chance the Fed will

cut at its next meeting on July 30.

News of the ceasefire saw the dollar extend an overnight

retreat and slip 0.1% to 145.92 yen, while the euro

edged up 0.1% to $1.1589.

The yen and euro benefited from the slide in oil prices as

both the EU and Japan rely heavily on imports of oil and

liquefied natural gas, while the United States is a net

exporter.

The risk-on mood saw gold prices ease 0.4% to $3,353 an

ounce.

(Editing by Sam Holmes)