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Whatever the trigger (e.g. this headline), spike in oil has dragged down stocks (US500 tested 7089) and pushed up the USD (EURUSD tested pivotal 1.1750).
US500 (SP500) 4 HOUR
What caught my eye was the break of the record 7150 high yielded only 2 pips (new high 7152), indicating it ran into sellers rather than stops. So far, it has only caused a pause but bears watching given the importance of the “50” level.
To keep the focus on the high, 7089-7119 needs to hold.
FX option expiries for 21 April 10am New York cut
EUR/USD at the 1.1760 and 1.1800 levels. The technical snapshot for the currency pair right now is that price action is settling between some key near-term levels. The floor is set out by the 200-hour moving average, seen at 1.1752 currently. Meanwhile, the daily ceiling is at the 1.1800 mark.
US PRE-MARKET MOVERS: AAPL, DHI, AMZN, LCID, MMM, GE, UNH, DHR, DGX, INTC, TSCO
Newsquawk Daily US Opening News – 21st April 2026
(Right click on any image (or chart) to open a full screen in a new tab)
Forex Market Snapshot
The dollar is trading firmer as global markets turn defensive awaiting clarity over whether/when Iran will be sending a delegation for peace talks. Given so many misleading and conflicting headlines,from various sources, traders have little choice but to turn cautious.
EURUSD, also hit by a weak ZEW. is so far holding above 1.,1750. USDJPY is back above 159 and GBPUSD has pivoted 1.35.
In Japan, consensus seems to be for the BoJ to have a hawkish hold on rates in April.
AUDUSD is underperforming while NZDUSD is overperforming (but off its high) as a May rate hike has been put on the table following the CPI report (note weaker AUDNZD cross).
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