investingLive European FX news wrap: Oil prices drop amid ongoing US-Iran talks

As the third round of US-Iran nuclear talks commences, there is a positive sentiment in the market with reports suggesting that an immediate agreement could be reached if the US focuses on Iran's commitment to not developing nuclear weapons. However, past experiences warn that such positive signals should be approached with caution. As a result, oil prices have been declining throughout the session. In the absence of significant news, ECB President Lagarde reiterated the central bank's data-dependent approach and the expectation for inflation to stabilize at around 2% in the medium term. This indicates that any immediate market impacts from the ECB's actions may be limited. In the American session, attention is turned towards the US Jobless Claims data, with projections showing Initial Claims at 216K and Continuing Claims at 1858K. However, the data is not expected to significantly alter market perceptions unless there are notable deviations. Traders should remain vigilant on any developments from the US-Iran talks as they could shift market sentiment quickly.