JP, the reaction just now to this report like it was new news.

US PRE-MARKET MOVERS: TDY, BABA, PM, UAL, VRT, OTIS, GEV, BA, ISRG, ABNB, ZS, GOOGL
ES +0.7% NQ +0.9% RTY +0.9%

ST re your “Here’s the dilemma: Who do you trust” Qtn
–
most traders, typically US traders, are “naturally” optimistic.
hard-nosed traders watch not political blather, rather market’s collective positioning and attempt to game THAT, natural optimism / patriotism aside / notwithstanding.
key is to know where and on what to turn one’s eyeballs and trading attention
g/l
Google up around 2% on this news, lifting US indices but risk on so far not spilling over to FX or GOLD

FX option expiries for 22 April 10am New York cut
EUR/USD at the 1.1760 and 1.1790-00 levels. The currency pair has been looking a little heavier since overnight trading, as the risk mood retreats slightly as US-Iran developments continue to hit a roadblock. The expiries now tie closer to the 200-hour moving average at 1.1760 currently and also some short-term daily resistance at the 1.1800 mark.

XAUUSD 1 HOUR
Pattern: 6 day trade around 4800 so far broken (bearish)
So, expect a limited upside while below 4800 (high 4772)
On the downside, pause above 4632 (low 4668) and subsequent bounce means damage not fatal
Bottomline: Hard call with little to go for between 4668-4797 so keep an eye on whether correlation with risk mood continues.

Forex Market Snapshot
The dollar is trading marginally weaker with so far limited follow through as global markets trade defensively awaiting developments from the Middle East.

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