US-Iran Technical Talks Continue as 60-Day Roadmap Begins

Kazem Gharibabadi, Iran's deputy foreign minister, will lead a team for further technical talks later today, according to Iranian media. The discussions will focus on the mechanism for implementing the memorandum of understanding and forming relevant technical groups, the reports said.

The talks come after the US and Iran agreed over the weekend to a 60-day roadmap toward a final nuclear and sanctions deal. The initial agreement, described variously as a memorandum of understanding or a framework agreement, sets a two-month timeline for negotiations but does not alter the immediate positions of either side.

For currency and commodity markets, the development has been largely a non-event since the weekend. The dollar softened modestly on the initial news, and oil prices eased as the deal reduced the risk of immediate supply disruption. Yet with the technical talks now underway and the substantive issues – enrichment capacity, sanctions relief, and the inspection regime – still to be addressed, traders are treating the roadmap as a procedural step rather than a breakthrough.

Several traders said the market is in a wait-and-see mode, with the 60-day timeline providing a buffer but no catalyst for directional bets. Iran's foreign ministry has been quick to reaffirm that no nuclear topics were discussed during the initial technical talks. The key red lines – Iran's enrichment capacity, the scope of sanctions relief, and verification – remain the core of future negotiations. Any sign that either side is hardening its position could trigger a risk-off move, traders said.

The technical talks are expected to continue through the week. No date has been set for the next round of political-level negotiations.