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US PRE-MARKET MOVERS: ORCL, UNF, AVAV, NVDA, TXN, JPM, MU, CPB<
Japan not waiting for the IEA to announce release of reserves (XTIUSD 85.60)
Newsquawk Daily US Opening News – 11th March 2026
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XAUUSD (GOLD) UPDATE
- With the move above 5200 proving to be brief, the onus is on the bull side to establish firmly above it or face more choppy consolidation in a range below it.
- On the downside, 5150-54 needs to hold to keep the focus on 5200.
- Above 5223 is needed to negate any thoughts of momentum building on the downside.
XAUUSD 1 HOUR CHART
Forex Market Snapshot
- After a quiet start to the day, the dollar has caught a modest bid (after trading softer overnight) as the mood turned to a modest risk off in a market lacking strong conviction, held hostage to the latest headline and moves in the price of oil. In this regard, watch any headlines from the IEA and the G7 meeting where the energy crisis and releasing strategic oil reserves will be on the agenda.
- The exception is the AUD, which is trading firmer (but off its .7185 high), helped by talk that the RBA might raise rates next week. The CAD is also slightly firmer on the back of a tick up in oil.
- This leaves most currencies consolidating with key levels at this week’s still distant USD highs (e.g. EURUSD 1.1508, USDJPY 158.90) after yesterday’s failed rally attempts.
- US CPI is due today, normally a key indicator but less so given the risk of higher inflation down the road due to rising oil prices. This suggests markets will be more sensitive to a miss (higher) than a beat (lower).
Gold Extends Gains – XAUUSD
US officials also delivered conflicting messages, adding to market uncertainty, with the White House saying the US had not escorted an oil tanker through the Strait of Hormuz, contradicting a now-deleted social media post by Energy Secretary Chris Wright.
Meanwhile, markets are closely monitoring upcoming US inflation data, which is expected to remain well above the central bank’s target even before the war erupted.
Traders have currently pared back expectations for policy easing by the Federal Reserve to just one rate cut this year.
Bitcoin Hits Range Highs: Rejection Could Send Price Toward $62,800
Bitcoin has climbed back to the top of its current trading range, placing the market at a critical decision point. While a breakout could open the door to further upside, failure to push higher may trigger a sharp rejection. If selling pressure emerges at these highs, Bitcoin could rotate back toward the key support level around $62,800.
Instead of chasing the upward momentum, the current technical setup suggests that a shorting scenario is much more compelling.
If Bitcoin begins to drop from its current position and loses the critical market structure level at $69,383, it would signal a shift in momentum.
In this case, BTC would be targeting “weak lows” situated around $65,280.
NAS100 (NASDAQ) UPDATE
How’s this for a call as well
With down momentum broken, move above 25208 is needed to shift risk to the upside.
High at 25195 paused just below 25208, leaving it dependent on 24870 holding as support to keep the focus on 25000 and away from the downside (and consolidation while above the 23975 low).
NAS100 4 HOUR CHART
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