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BlockBeats News, April 10th, a quick look at yesterday morning's key geopolitical developments: Putin announced a 32-hour Easter ceasefire, and Ukrainian President Zelensky immediately followed suit, with the ceasefire window set to open at 21:00 on April 11th Beijing time. Intercontinental Exchange significantly increased margin requirements for Brent and European Diesel futures contracts; U.S. media reported that the U.S. government is expected to extend Russian oil sanction waivers this week, possibly paving the way for future Iran oil waiver arrangements. The President of the Polish central bank stated a continued commitment to increasing gold reserves, which currently stand at 580 tons, reiterating the target of 700 tons. Iran Situation: Advancing on Multiple FrontsNegotiation Updates: Iran's Deputy Foreign Minister confirmed that a delegation will travel to Islamabad for peace talks but set a condition that Israel must cease its attacks on Lebanon; sources indicate that Iran will not engage in formal negotiations with the U.S. until a Lebanon-Israel ceasefire is achieved. Lebanon Developments: The Israeli Prime Minister has ordered direct talks with Lebanon but made it clear that there will be no ceasefire until Hezbollah is disarmed; Lebanon and Israel are set to begin direct talks in Washington next week; Trump revealed that he has asked Netanyahu to conduct Lebanon operations in a "more subdued" manner.Hormuz Dispute: Iran's Deputy Foreign Minister stated that the strait is open to civilian vessels, but passage requires coordination with Iran; Trump publicly warned Iran against charging tolls, using strong language saying, "It's not even within the realm of what we agreed." Spillover Risks: Houthi rebels in Yemen cited the Lebanon incident to threaten tighter controls over Red Sea passages; Iran denied launching missiles at other countries during the ceasefire. Concurrent progress on Islamabad negotiations, Lebanon-Israel direct talks, and Hormuz passage rights indicates a key juncture in the Middle East situation in the next 48 hours.

Golden Ten Data reported on April 10 that CITIC Securities pointed out that U.S. non-farm payroll data shows marginal improvement in U.S. employment in March, but the sustainability remains to be seen. The U.S. added 178,000 non-farm jobs in March, exceeding expectations, partly driven by short-term disruptions being resolved. Although the structure of employment growth in March improved compared to February, growth in many industries remains relatively low. If the conflict between the United States and Iran continues, it is expected to put pressure on the global supply chain, and U.S. employment may continue to face challenges. However, rising inflation risks are currently squeezing the Federal Reserve's room for interest rate cuts.

Palm oil futures prices hit a low and rebounded; the USDA has raised global palm oil ending stocks for the 2025/26 season. With the March MPOB report about to be released, can inventory reduction expectations be fulfilled?