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Brent Crude Oil Futures – BRN1!
Oil Falls to Four-Year Low on Weakening U.S. Economy and Higher Supply Amid OPEC+ Infighting
Oil fell to a fresh four-year low early on Thursday, weighed down by a slowing U.S. economy and reports Saudi Arabia is ready to punish OPEC+ over-producers with fresh supply to lower prices.
West Texas Intermediate crude oil for June delivery was last seen down US$1.14 to US$57.07 per barrel, the lowest since February, 2021, while July Brent crude dropped US$1.06 to US$60.00.
The fourth-straight drop in prices comes as the United States on Wednesday reported an unexpected fall in its first-quarter gross domestic product, while hiring is slowed even ahead of the April 2 imposition of blanket tariffs against nearly all U.S. trading partners by President Donald Trump.
The prospect of slowing demand amid the fracturing of global trading patterns comes as OPEC+ adds 411,000 barrels per day of supply as it unwinds 2.2-million bpd of production cuts,. Reports say the group is readying another outsized production boost to output in June. Reuters on Wednesday reported Saudi Arabia is prepared to weather a prolonged period of low prices as its seeks to punish Kazakhstan and other OPEC+ members producing above their quota by boosting output.
Monthly Chart
Microsoft Corp. – MSFT
Microsoft 9% Jump – Gunning for previous High at 468.35
Microsoft Delivers Strong Fiscal Q3 as Cloud, AI Deliver
Microsoft MSFT delivered a strong fiscal Q3 as it continues to make the most of the artificial intelligence momentum across its tech stack by driving efficiencies across workloads, Wedbush Securities said in a Wednesday note.The revenue growth of the company’s Azure cloud computing platform came in at 33%, beating the Street’s expectation of 31%, with AI making up around half of the growth at 16%, the analysts said, adding that the growth was “eye-popping” in the midst of macro uncertainty.
The analysts said that they anticipate that the cloud and the underlying Office 365/Windows ecosystem will make up a larger portion of the company revenue moving forward, spurring growth and margins in fiscal 2026.
Wedbush maintained the company’s stock rating at outperform and increased the price target to $515 from $475.
MSFT has now to take out 450.00, and if so it will test a High at around 470
Support – Pivotal is at 410
Cantor Equity Partner Inc. – CEP
Cantor Equity shares rally as retail investors cheer crypto venture
Crypto meets Investment Banking
Shares of blank-check firm Cantor Equity Partners CEP soared 42% on Friday, extending a scorching rally from the previous session as retail investors flocked to the stock.Over 2,200 users on Stocktwits, a social media platform for retail investors, added the stock to their watchlist after the company announced a $3.6 billion crypto venture on Wednesday.
The venture, Twenty One Capital, aims to be a publicly traded bitcoin-holding company that lets investors gain exposure to the cryptocurrency without directly owning it.
“Strategy became a proxy bitcoin play, and many traders are on the lookout for the next one,” said Brett Reeves, head of Go Network and European Sales at crypto infrastructure firm BitGo.
“The significant investment from SoftBank and Tether adds to the credibility and potential appeal for investors.”
Twenty One will be launched in partnership with stablecoin issuer Tether, Japan’s SoftBank and crypto exchange Bitfinex.
Nvidia – NVDA
Nvidia jumps on report of US mulling looser curbs on chip export to UAE
Shares of AI chip leader Nvidia NVDA rise 4% to $113.30
** U.S. is weighing a potential easing of restrictions on Nvidia sales to the United Arab Emirates, Bloomberg News reports
** President Donald Trump could announce the start of work on a bilateral chip deal during his upcoming trip to UAE
Support at 110.00
Resistance at 122.50
If Nvidia breaks above Downtrend line originating from January 2025. It would be back in play for levels 140-150
Sotcks dipped and dollar followed after this headline from what is ifften a volatile Atlanta GDP tracker
XAU/USD: Gold Dives 2% as Trump Boasts Trade Progress, US and Ukraine Sign Minerals Deal
Key points:· Gold drops 2% to $3,220, lowest in two weeks
· Trump hints at new trade deals, softens global tensions
· US-Ukraine minerals deal signals diplomatic pivot
· Gold XAUUSD took a hard hit Thursday, falling 2% to $3,220 an ounce, and touching its lowest point since mid-April. The safe-haven metal — the crown jewel of the early second quarter — is now seeing profit-taking and momentum unwind as traders rotate out amid cooling geopolitical tensions and a resurgent dollar.
The newly signed minerals agreement grants the US access to Ukraine’s rare earths and critical materials — a diplomatic breakthrough that also serves as a signal to Russia that Washington is now pivoting from direct military aid to long-term economic partnership.
Treasury Secretary Scott Bessent called the deal “a step toward a negotiated end” to the war and “a beginning of reconstruction.” With rhetoric like that, traders began unloading their risk hedges — and gold got clipped.
With geopolitical pressure easing (at least for the moment), gold’s near-term momentum has flipped. The non-yielding metal, which flourished in April amid tariff anxiety and Fed drama, is now struggling to justify new highs as the dollar flexes and bond yields stabilize.
The focus now shifts to Friday’s nonfarm payrolls report, which could help shape interest rate expectations. A hot print could throw more cold water on gold — while a weak one might reopen the door to rate cuts and rekindle some golden love.
UK Stocks Starts May on Negative Note
Key points:
· FTSE flat, other bourses shut
· Investors cheer to US-Ukraine deal
· Bullish updates from Microsoft, Meta
· Nasdaq futures up 1.7%
The UK’s FTSE 100 opened slightly lower on Thursday, trading around 8,470, as traders continued to digest weak economic data from the US and the ongoing earnings season.
Attention now turns to upcoming UK economic indicators, with consumer credit and mortgage approval figures due later today.
On the corporate front, Lloyds fell 2% in early trading following its Q1 update, while BP and Centrica posted larger losses.
Persimmon declined 2.3% after its latest trading statement, despite maintaining confidence in meeting full-year goals.
Rolls-Royce bucked the trend, rising 3.3% after highlighting a robust start to the year
EURUSD 15 MINUTE CHArt – the amazing trader (at)
in the heat of battle, I find nothing is better than AT.
Look at this chart after the weekly jobless claims reaction, speaks for itself
Bitcoin price about to ‘blast’ higher as Fed rate cut odds jump to 60%
· Bitcoin holds $95,000 as Fed rate cut odds rise to 60% for June 18 and the US economy slumps.
· Breaking $95,000 could push BTC’s price toward $100,000, while dropping below $93,000 may bring the $84,000 back into the picture.
· Key Bitcoin levels to watch remain around the long-term holders’ cost basis.
Bitcoin BTCUSD is once again attempting to break above $95,000 on May 1 as markets price in the possibility of the US Federal Reserve cutting rates sooner than expected.
A contracting economy will likely prompt the Fed to lower rates to stimulate activity sooner rather than later. This reduces yields on traditional assets like bonds, pushing investors toward Bitcoin and risk-on assets.
The odds of a Fed interest rate cut at the June 18 Federal Open Market Committee meeting have increased over the last week, from 57% on April 30 to 60% on May 1.
GBPUSD 4h
A new month started – Here it comes David , and everyone else 😀
Resistances: 1.33450, 1.33600 & 1.33850
Supports: 1.33100, 1.32950 & 1.32750
Close of this bar above 1.33300 would put a pressure to the Upside
Close below 1.33150 would call for another test of 1.32750
Next 48h should give us a clear view on midterm developments – week or so
Now overall picture is that if Cable goes below 1.32350 , it would start a Daily correction at least
1.29600 is the level that it should reach.
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