Asian markets are up firmly in positive territory on Friday, tracking overnight gains on Wall Street following U.S. President Donald Trump calling off strikes against Iran.
In a post on Truth Social, the U.S. President said that the decision was "based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved."
Trump has said earlier that the U.S. would be hitting Iran "very hard tonight" and claimed he plans to assume total control of their oil and gas markets "at some point in the not too distant future."
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.