{"id":432047,"date":"2026-06-12T18:41:59","date_gmt":"2026-06-12T11:41:59","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/2026\/06\/investinglive-european-markets-wrap-setting-up-for-that-taco-moment-spacex-debut-up-next\/"},"modified":"2026-06-12T18:41:59","modified_gmt":"2026-06-12T11:41:59","slug":"investinglive-european-markets-wrap-setting-up-for-that-taco-moment-spacex-debut-up-next","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/2026\/06\/investinglive-european-markets-wrap-setting-up-for-that-taco-moment-spacex-debut-up-next\/","title":{"rendered":"investingLive European markets wrap: Setting up for that TACO moment? SpaceX debut up next"},"content":{"rendered":"<div>\n<p>Headlines:<\/p>\n<ul>\n<li><a href=\"https:\/\/investinglive.com\/news\/iran-will-not-restore-strait-of-hormuz-status-to-pre-war-level-irna-20260612\/\">Iran will not restore Strait of Hormuz status to pre-war level &#8211; IRNA<\/a><\/li>\n<li><a href=\"https:\/\/investinglive.com\/news\/the-us-iran-mou-could-be-signed-as-soon-as-sunday-in-geneva-bbg-20260612\/\">The US-Iran MoU could be signed as soon as Sunday in Geneva &#8211; BBG<\/a><\/li>\n<li><a href=\"https:\/\/investinglive.com\/news\/here-is-what-the-us-iran-deal-looks-set-to-be-like-after-another-taco-moment-20260612\/\">Here is what the US-Iran deal looks set to be like after another TACO moment<\/a><\/li>\n<li><a href=\"https:\/\/investinglive.com\/news\/iran-media-says-that-memorandum-of-understanding-draft-still-not-yet-finalised-20260612\/\">Iran media says that memorandum of understanding draft still not yet finalised<\/a><\/li>\n<li><a href=\"https:\/\/investinglive.com\/news\/oil-prices-plunge-after-iran-confirms-details-of-the-deal-with-the-us-20260612\/\">Oil prices plunge after Iran confirms details of the deal with the US<\/a><\/li>\n<li><a href=\"https:\/\/investinglive.com\/stocks\/the-countdown-continues-ahead-of-the-wall-street-open-all-eyes-on-spacex-20260612\/\">The countdown continues ahead of the Wall Street open, all eyes on SpaceX<\/a><\/li>\n<li><a href=\"https:\/\/investinglive.com\/centralbank\/ecb-policymaker-nagel-says-keeping-all-options-open-for-july-meeting-20260612\/\">ECB policymaker Nagel says keeping all options open for July meeting<\/a><\/li>\n<li><a href=\"https:\/\/investinglive.com\/centralbank\/ecbs-dolenc-says-current-rate-level-gives-enough-flexibility-to-respond-to-energy-shock-20260612\/\">ECB&#8217;s Dolenc says current rate level gives enough flexibility to respond to energy shock<\/a><\/li>\n<li><a href=\"https:\/\/investinglive.com\/news\/germany-may-final-cpi-26-vs-26-yy-prelim-20260612\/\">Core inflation confirmed to have picked up in Germany during May<\/a><\/li>\n<li><a href=\"https:\/\/investinglive.com\/news\/french-inflation-accelerates-in-may-as-services-inflation-push-up-20260612\/\">French inflation accelerates in May as services inflation push up<\/a><\/li>\n<li><a href=\"https:\/\/investinglive.com\/news\/spain-may-final-cpi-32-vs-32-yy-prelim-20260612\/\">Spanish inflation picks up in May, core prices also continue to nudge higher<\/a><\/li>\n<li><a href=\"https:\/\/investinglive.com\/news\/uk-april-monthly-gdp-01-vs-01-mm-expected-20260612\/\">UK economy sees marginal contraction in April as services sector cools<\/a><\/li>\n<\/ul>\n<p>Markets:<\/p>\n<ul>\n<li>WTI crude down 3.5% to $84.60<\/li>\n<li>US dollar little changed, keeps steadier<\/li>\n<li>Equities stay optimistic, European indices trade over 1% higher<\/li>\n<li>S&amp;P 500 futures up 0.5%, Nasdaq futures up 0.5% with eyes on SpaceX debut<\/li>\n<li>US 10-year yields down 0.2 bps to 4.46%<\/li>\n<li>Gold down 0.2% to $4,204<\/li>\n<li>Bitcoin up 0.4% to $63,631<\/li>\n<\/ul>\n<p class=\"text-align-justify\">The main story of the session was that Iran has emerged with key details of its deal with the US. And it is either a case of there going to be another major TACO moment or this deal is going to fall apart before it even begins.<\/p>\n<p class=\"text-align-justify\">The details point to many concessions being offered up by the US with the summarised version <a href=\"https:\/\/investinglive.com\/news\/here-is-what-the-us-iran-deal-looks-set-to-be-like-after-another-taco-moment-20260612\/\" target=\"_blank\" rel=\"follow\">here<\/a>. And if so, it is essentially a reset back to 27 February. Tell me, what was the point of this war again?<\/p>\n<p class=\"text-align-justify\">As the details surfaced, markets are cheering on the headlines but not taking things all too far. As a reminder, there will still be another 60 days of negotiations after this. And besides the point, we&#8217;re still yet to see how Trump can spin this all into a &#8220;win&#8221;.<\/p>\n<p class=\"text-align-justify\">Oil prices are down with WTI crude lower by 3.5% to $84.60. The low earlier touched $83.20 before Iran came out to say that they will still be the ones in charge over the Strait of Hormuz pending any final agreement.<\/p>\n<p class=\"text-align-justify\">Meanwhile, the dollar is keeping steadier after a slight nudge lower on the headlines. EUR\/USD is flat again at 1.1575 while USD\/JPY sits higher by 0.1% at 160.15 on the day. Besides that, AUD\/USD is down 0.1% to 0.7040 on the day.<\/p>\n<p class=\"text-align-justify\">In the equities space, European indices are posting solid gains in looking to wrap up the week. The DAX is up 1.5% with the CAC 40 up 1.7% currently. As for US futures, the mood music remains bright with all eyes on the SpaceX trading debut later today. S&amp;P 500 futures are up 0.5% with Nasdaq futures also up 0.5%.<\/p>\n<p class=\"text-align-justify\">As for precious metals, gold raced higher on the US-Iran news early on but saw gains tempered after. The high touched $4,245 before price is dropping back lower to be down 0.3% on the day at $4,200.<\/p>\n<p class=\"text-align-justify\">Deal or no deal? We can only wait and see. But whatever the case is, just be reminded that it doesn&#8217;t mean that this is &#8220;the end&#8221; of the war. For some context, this is how things may unfold with regards to the Strait of Hormuz:<\/p>\n<p>                            This article was written by Justin Low at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Headlines: Iran will not restore Strait of Hormuz status to pre-war level &#8211; IRNA The US-Iran MoU could be signed as soon as Sunday in Geneva &#8211; BBG Here is what the US-Iran deal looks set to be like after another TACO moment Iran media says that memorandum of understanding draft still not yet finalised [&hellip;]<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-432047","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/432047","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=432047"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/432047\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=432047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=432047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=432047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}