From Marc Chandler at Bannockburn Global Forex:
Risk appetites have been excited by the two-week cease fire in the Middle East. Stocks and bonds have rallied strongly. The precious metals are higher. May WTI is off more than 15%. June Brent is about 13% lower. The US dollar is weaker against all the G10 and emerging market currencies that are trading. The ceasefire is overwhelming other developments including the central banks in New Zealand and India standing pat.
Global investors have responded to the news, and that may leave North American participants in an awkward position. They will be greeted with large moves and may be reluctant to substantially extend the moves without seeing further developments....
....MUCH MORE