BOC rate cur decision (Wed) ... see detailed preview
US500 4 HOUR CHART – Biding its time

No change in my view… For this bounce off the lows to be anything mote than a retracement. 5500+ followed by a break of 5629 (61/8%) would be needed.
Taking it one step further, one could make a case that US500 appears bid in an offered market unless 5500+ starts to trade.
If you take 5200-5500 as a range then the midpoint ay 5350 becomes a pivotal level.

US OPEN
Generally positive sentiment but with recent pressure seen after China seeks to halt Boeing deliveries
Good morning USA traders, hope your day is off to a great start! Here are the top 6 things you need to know for today’s market.
6 Things You Need to Know
China orders a halt to Boeing (BA) jet deliveries as the trade war expands, according to Bloomberg citing sources.
US President Trump said they will put tariffs on imported pharmaceuticals in the not-too-distant future.
European indices at session highs, LVMH -7% after weak results; US futures are modestly higher.
DXY holds a downward bias whilst Antipodeans outperform.
Initial fixed divergence eroded by China-Boeing. Bunds subsequently hit by a poor Bobl auction
Gold lifted, Crude pushed into the red and Copper dented amid China trade retaliation.
EURGBP 4 HOUR – Extends retreat from .8738

EURGBP selling has been a dominant flow this week where the market, creating a tug-of-war where the market is having more trouble absorbing the GBPUSD buying than the EURUSD selling.
.8518 is key support
Back above .8600-15 would be needed to negate the risk.
Note, price action appears to be real-money sell orders, perhaps ahead of the ECB rate decision on Thursday.
Using my platform as a HEATMAP shows…

the dollar trading softer in pre-Easter trading except vs a lagging EUR, which is softer on its crosses (note EURGBP) while EURISD Is again pivoting the 1.1350 level
Tariffs: Markets waiting for clarity… so far no trade deals. announced … what happened ti 90 deals in 90 days?
Gold has rebounded but remains below its recent record high
Stocks seem to be in a holding pattern waiting for clarity in tariffs
Economic calendar A quiet one from the U.S…focus remains on tariff related headlines
A word about the pre-Easter week: It is generally one dominated by position adjustments rather than taking on fresh risk ahead of what for many is a 4-day holiest weekend break.
A full calndar on Tuesday — click below for detauked’previews
SF Monedge checkout this out:
Stocks rally worldwide after Trump eases some of his tariffs on electronics, for now
NEW YORK (AP) — Stocks rose worldwide Monday after President Donald Trump relaxed some of his tariffs, for now at least, and as stress from within the U.S. bond market seems to be easing. – The Canadian Press
See any good co.s to short – like those that, for example, import a good portion of their gadgets or parts from China ?
It is taking a little time today to get one’s trading bearings… what has worked as a guide to the risk tone is look at US500 5500 and treating the bounce as being limited unless this level ia taken out.
Looking now, stocks, while still up on the day, have given back a chunk of the earlier gains.
Thw JPY is getting some of the safe haven flows. AUD has lost its outforerming status.
Dollar Could Extend Losses Unless It Reasserts Safe Haven
The dollar is likely to extend its losses unless there is a much bigger global shock that prompts safe-haven flows to return to the U.S. currency, Monex Europe analysts say in a note. Uncertainty remains heightened after contradictory remarks from U.S. officials about tariffs at the weekend, they say. This leaves dollar risks “skewed to the downside” at least in the short term. The dollar should continue trading lower “unless and until the uncertainty begins to crystallize meaningfully, or something significant breaks.” The DXY dollar index falls 0.6% to 99.4730 after hitting a three-year low of 99.0140 Friday.


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