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US aggression has pushed Iran to extend the closure of the Strait of Hormuz - 20.4.2026
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Todays’ Market Summary
- AUD/USD: Last week’s top performer on peace deal optimism. Bias: Cautiously Bullish
- BTC trading near $75,254
- Indices hit record highs last week
- Brent Crude surged 6% to over $95
- Gold maintains momentum
Top daily news
Geopolitical tensions spiked as Iran threw away plans to reopen the Strait of Hormuz following the sustained US blockade. Tensions escalated further after the US Navy seized an Iranian cargo vessel in the Gulf of Oman.
- Key Data: US Retail Sales (Apr 21); UK CPI & Oil Inventories (Apr 22); US Jobless Claims & Flash PMIs (Apr 23); UoM Inflation Expectations (Apr 24).
- Earnings: Q1 results remain strong; major US banks report healthy profits with 2026 full-year estimates trending upward.
Forex news
- AUD/USD: Last week’s top performer on peace deal optimism. Bias: Cautiously Bullish as risk appetite fluctuates.
- EUR/GBP: Gains stalled on cautious BoE sentiment. Bias: Neutral ahead of UK CPI (Apr 22).
- EUR/USD: Closed at 1.1763. Support holds at 1.1600–1.1620 with a medium-term target of 1.19–1.21. Bias: Neutral/Bullish above 1.1600.
- USD/JPY: High volatility persists. Narrowing yield differentials favor the Yen through 2026. Bias: Bearish USD/JPY.
Stock Market news
Indices hit record highs last week (S&P 500 +4.54%, Nasdaq +6.84%), but Monday futures slid on Middle East conflict.
- S&P/Nasdaq: Futures down ~0.7%; 16% earnings growth forecast provides a solid floor. Bias: Bullish on pullbacks.
- ASX 200: Closely tied to commodity shifts. Bias: Cautiously Bearish on open.
- Dow Jones: Lagging behind peers. Bias: Neutral.
- Nikkei 225: Re-escalation in the Gulf threatens energy stability. Bias: Neutral/Bearish pending diplomatic talks.
Commodity Market news
| Brent Crude Oil | --- | --- | --- |
| Cotton | --- | --- | --- |
Brent Crude surged 6% to over $95 Monday on Strait of Hormuz concerns, now trading near support. Resistance: $95–$98. Support: $90.40. Bias: Highly Volatile.
WTI Crude: Rebounded to $90 after an earlier dip to $84. OPEC+ output hikes cap the upside, while the EIA report (Apr 22) remains the key domestic catalyst. Bias: Volatile.
Gold Market News
| Gold USD | --- | --- | --- |
Gold maintains momentum, closing near $4,834 after a 3.47% weekly gain. While short-term volatility is expected around US PMI data, J.P. Morgan targets $5,000/oz by Q4 2026 driven by robust central bank demand.
Bias: Bullish.
Crypto
| Bitcoin | --- | --- | --- |
| Ethereum - Dollar USA | --- | --- | --- |
BTC trading near $75,254. Institutional inflows support a technical target of $76,000–$78,000 by month-end. Support: $73,165. Bias: Cautiously Bullish.
ETH trading near $2,272 with a bullish weekly engulfing pattern. Despite a "Fear" reading (26) on the sentiment index, technicals point toward a move to $2,492. Bias: Neutral to Bullish.
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