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European session wrap: Markets stay on edge as Middle East conflict drags on
Brent crude oil up 0.5% to $108.17, WTI crude oil up 0.3% to $94.93
CAD leads, JPY lags on the day
European indices set to end the week lower, S&P 500 futures down 0.3%
Gold up 0.3% to $4,662, Silver down 1% to $72.20
US 10-year yields up 1.7 bps to 4.30%
Bitcoin up 0.3% to $70,701
IEA Head says even if the war ends soon “it will take a long time to have oil and gas rehabilitated. It will be six months for some [sites] to be operational, others much longer”, FT reports
Waller, considered a dove, expressing caution but does not think rate hikes are warranted… USD ticks up on his comments.
US PRE-MARKET MOVERS: FDX, SMCI, NXST, TGNA, PL, UL, MKC, ARM, CMG, FIGS
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<p style=”text-align: center;”>Source: Try Newsquawk free for 7 days</p>Newsquawk Daily US Opening News – 20th March 2026
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Oil blips, USD blips, US stocks dip following this headline news
XBRUSD UPDATE
- While it’s hard to ignore yesterday’s $15+ plunge from 119.25 (12.9%), the move did not go far enough to break the last leg up. For that to happen, 97.76-100.47 would need to happen.
- This leaves it in a 103.87-119.25 range where 110 is a pivotal level in what remains a reaction to headline news market.
XBRUSD (BRENT OIL) 4 HOUR CHART
XAUUSD (GOLD) UPDATE
- As noted yesterday, 4500 is one of those pivotal levels that can have an impact beyond technioals and the pause above it (4502). followed by a higher low (4566). have potential to signal a bottom.
- For the bounce off 4502 to fully negate the downside risk, 4867 would need to be broken.
- On the downside, 4633 needs to hold to keep what is still a retracement risk pointed up.
- Intraday high: 4736.
XAUUSD 1 HOUR CHART
Forex Market Snapshot
- The dollar is trading firmer in a TGIF market after yesterday’s retreat, driven by a repricing of central bank rate outlooks and a retreat in crude oil (specifically Brent), did not fo;;oe through.
- JPY is the underperformer with USDJPY back above 158
- EURUSD is trading within 1.15-1.160 where 1.1550 will set its trading tone.
- Otherwise, it is another headline watching day with no key US economic data due. In stocks a focus will be on Quad Witching Day.
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