Brent oil(UKOIL) remains pressured
Brent oil(UKOIL) continues to trade below $70 a barrel as tariff uncertainties continue. Adding to the bearish sentiment, stockpiles posted a larger-than-expected build recently, as investors worry about OPEC+ plans to increase output in April. Multi-year lows have now come into play on the charts, as it seems a long way back for the black gold to recoup any losses. The price is testing a fresh low at 68.00, with 72.50 being the first target for buyers.
EURUSD hits resistance
The euro remains heightened over the dollar after the recent multi-week bull rally. With another rate cut last week from the ECB, the bank is expected to lower interest rates only one more time this year. All eyes will be on this week’s CPI reading for America as it will be the turn of the Fed to see what remarks they can give to calm the markets. Any talks of rate hikes could shake the market further as the pair looks for a confirmation above the 1.0800 level, with 1.0720 being fresh resistance.
NAS 100 slides lower
Stocks resumed their steep pullback as we kick off the new week as the latest comments from the White House on tariff policies failed to calm nervous investors. The index continues to enter a correction zone, as have the Dow and S&P. Even though the President announced a one-month delay for tariffs, this has not stopped the Nasdaq from sliding towards the 20000 area, as price action looks to break back above the 20500 area for some reprieve.
