The dollar is trading firmer after failing to follow through on yesterday’s weaker closes in a market where the focus is split between the US-Iran stalemate and central bank response to rising inflation.
Looking at the table, AUD is underperforming. EURUSD 1.16, USDJPY 159 and GBPUSD 1.34 remain pivota

Newsquawk Daily US Opening News – 21st May 2026

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What is in-appropriate is that the suits think their meddling is appropriate

Reuters – BOJ policymaker calls for rate hike, warns of war-led inflation overshoot
Asia Pacificcategory · May 20, 2026 · 3 hours agoThe Bank of Japan should raise interest rates at an “appropriate pace” as price pressures from the Middle East war may push underlying inflation above its 2% target, its board member Junko Koeda said, bolstering the case for a rate hike as soon as June.

COMING UP: Data: Global S&P PMIs Flash (May), Japanese Trade Balance (Apr), Australian Employment Report (Apr), US Initial Jobless Claims (May/16), EU Consumer Confidence Flash (May). Events: Banxico Minutes (May). Speakers: BoJ’s Koeda; BoE’s Taylor, Bailey; ECB’s Elderson; Fed’s Barkin. Supply: Spain, France, the UK. Earnings: Walmart, Deere.
Nvidia Earnings Face AI Rally Test After 60% Chip Index Surge
Nvidia NVDA is heading into a high-stakes earnings report as investors look for confirmation that the AI semiconductor rally still has room to run. The company reports after Wednesday’s market close
Nvidia shares are up 18% in 2026 and 34% from their late-March low, despite losing 6.4% over the last three sessions.

FOMC Minutes: Many would have preferred to remove easing bias from policy statement
FOMC meeting minutes from the April 28 – 29 Federal Reserve interest rate decision meeting
The vote at the meeting was 8-4 with 1 voting to cut rates by 25 basis points (Stephen Miran who has resigned from the fed to make room for new Fed Chair Warsh). Three voted to take out the easing bias.
Majority of participants said some policy firming would likely become appropriate if inflation were to continue above 2%.
Almost all participants supported maintaining fed funds target range at this meeting.
Several participants indicated rate cuts would be warranted later this year in a scenario in which conflict was resolved soon and inflation pressures dissipated.
Some participants were concerned about scenario in which elevated energy prices and tariffs could result in inflation pressures becoming embedded more broadly.
Fed staff economic Outlook projections was slightly stronger than for March meeting. Vote at the meeting was eight
US PRE-MARKET MOVERS: Samsung Electronics/MU/SNDK, NVDA, RBLX, TOL, LOW, ADI, TJX, ETSY, CI, TGT
ES +0.4% NQ +0.8% RTY +0.7%

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NOW “they” tell us
Early War Goal Was to Install Hard Line Former President as Iran’s Leader NYT
but … have no fear, senate is here:
Senate Votes to Take Up Measure to Force Trump to End Iran War – NYT
With four Republican backers, Democrats won a vote to advance a resolution that would force the president to end hostilities or win authorization from Congress.
NEW PROFIT OPPORTUNITIES
only one, maybe two weeks away
“praemonitus, praemunitus”
Europe could run out of jet fuel in 6 weeks, IEA warns
Published Thu, Apr 16 2026
The International Energy Agency warned Thursday that Europe is going to run out of jet fuel in as few as six weeks. blablabla
IF europe could replace only half of of its m/east fuel volumes, stocks would hit critical levels by june.
Newsquawk Daily US Opening News – 20th May 2026

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COMING UP: Data: Chinese LPR (May), German PPI (Apr), UK Inflation Report (Apr), EU Inflation Final (Apr), New Zealand Trade Balance (Apr). Events: FOMC Minutes (Apr), BoJ Bond Market Survey (May).
Speakers: US President Trump; Fed’s Paulson, Barr; BoE’s Bailey, Breeden, Dhingra, Mann. Supply: Japan, Germany
,US. Earnings: Nvidia, Target, Intuit .
(Newsquawk)
Newsquawk US Market Wrap: Risk off seen as US/Iran seem no closer on a deal
SNAPSHOT: Equities down, Treasuries down, Crude down, Dollar up, Gold down.

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NAS100 (NASDAQ) 4 HOUR
Bulls will not give up without a fight.
In this regard, the 2 levels the do not want to see broken are 28660 (briefly broken) and 28460 as there is a big void below it (starting with 28000).
To negate the threat, risk mood needs to shift to risk on and 29120 needs to be broken.

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