Australian markets are expected to open for trade on a cautious footing as concerns over US-Iran tensions persist. Multiple reports say the potential direction of the ASX is uncertain at the start of the week, following continued statements from US President Donald Trump related to Iran. While tensions remain in focus, officials are also said to be engaging in diplomatic talks. The reports describe talks taking place in Switzerland between the US vice president and Iranian officials, indicating efforts to manage or de-escalate the situation alongside ongoing public threats. The combined coverage frames the outlook for the sharemarket as unstable rather than clearly bearish or bullish, with investor sentiment likely influenced by developments in both the diplomatic process and US rhetoric. Overall, the reports point to a link between international political risk and market expectations, with the immediate trading start shaped by the latest US-Iran developments and the progress of the Switzerland discussions.