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XTUUSD (WTIUSD) 4 HOUR
It’s either month/quarter end, pre-Easter book squaring, trading on hope or news algos taking control but in any case, a tumble in o[l has had ripple effects in other markets.
XTIUSD now dependent on $100 holding to keep the downside in check as there is a void below it.
From Newsquawk:
[MARKET UPDATE] Stocks surge, oil tumbles, Dollar hit and Treasuries gain as Iranian President Pezeskhian says Iran seeks no war but is prepared to end it with guarantees against further attacks
XBRUSD (BRENT OIL) UPDATE
News algos are running the asylum ina classic case of the reaction (spiuke down in crude) to news (from the ME) is what matters more than the news itself..
No change: On the downside, use 110 as a bias indicator (currently below) and midpoint of 105-115, bottom end needs to hold or 100-101 comes back in play.
XBRUSD 4 HOUR CHART
EURGBP 1 HOPUR
Lesson for trading at monbth end and the 4PM London fix
As posted earlier (EURGBP was at .8680)
Note EURGBP tends to be active at month end and influence respective spot pairs, EURUSD and GBPUSD so keep an eye on it
Post mortem:
EURGBP buy order => EURUSD bid (up), GBPUSD offered (lower)
Hint: masrket seems to be having more trouble absorbing the USD selling.
NAS100 (NASDAQ) 1 HOUR
Bounce off the new 22774 low would need to solidly regain 23243 (nicked), 23344. 23378 (for an outside day) to break momentum and then 23407 to shift risk to the upside.
Otherwise, range stays intact and dependent on 23042 holding to keep a bid and the focus away from the new low.
US500 (SP500) 4 HOUR
Whether it is month end or news algos reacting to a headline there is some life in stocks so far today.
To build on the bounce off the new 6310 low, 6437+ would be needed for an outside day and 6443+ to shift the focus back to 6500.
Otherwise, range is intact and dependent on 6378 holding to keep a bid and focus away from the new low.
US PRE-MARKET MOVERS: Mag-7, MKC, CEG, APLS, CNTA, MU/SNDK, FDS, SNX, DOCU
ES +0.7% NQ +0.6% RTY +1.1%
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- Mag-7: MSFT +1.4% GOOGL +1% META +1% AMZN +0.8% AAPL +0.7% NVDA +0.6% TSLA +0.5%
- AAPL: Removed vibe coding AI app-building app Anything from the App Store for violating guidelines
- MKC +5.5%: EPS & rev. beat; elsewhere, Unilever confirmed MKC talks’
- CEG -3%: Initial FY26 profit view way short of exp.
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[MARKET UPDATE]
Pressure seen in fixed income and European/US equity futures as energy climbs ever closer to overnight highs (Source: Try Newsquawk free for 7 days
XTIUSD (WTIUSD) 4 HOUR
Key resistance: 107.27
XBRUSD 4 HOUR
As posted yesterday around this time, $105-$115 was a potential range where $110 would set the trading tone (currewntly above it so trading with a bid). So far, this has been a good guide.
Note a narrowing of the spread between XBRUSD and XTIUSD has so far restrained the XBRUSD upside and prevented a run at the $119.70 high.
GBPUSD 4 HOUR
Trying to regain 1.32, the clear bias setter but to negate the downside risk, 1.3283 and the trendline need to be broken.’
Current tight range: 1.3191-1.3224
Note EURGBP tends to be active at month end and influence respective spot pairs, EURUSD and GBPUSD so keep an eye on it (range: .8667/75– 8691/00)
Forex Market Snapshot
Month/quarter end flows likely dominating as trhe the dollar tried to follow (lower) but with limited success (e.g. EURUSD paused below 1.15). USDJPY, on the other hand, continues to heed the intervention threat as it trades below 160.
In order of strength vs USD
GBP – AUD – JPY – CHF – EUR – CAD – NZD
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