UKOIL prices rebounding from multi-month lows
UKOIL prices remain bullish as investors weigh up the potential OPEC+ output hikes and positive US-China trade talk developments. The black gold had been under increased pressure for the majority of April after falling over $15 as uncertainty continues with the recently imposed global tariffs. In addition, the uncertainty surrounding the US-Iran nuclear talks and sanctions will add another layer of unease to the oil market outlook. 64.00 has become an effective floor as the price for a test is 70.00.
EURUSD holding on to gains
The dollar’s recent recovery from multi-year lows ran out of steam in the past week as the pair hit another higher high. With this week’s euro bloc inflation and GDP data expected to be favourable, this could help protect the Euro from a dollar fightback. Markets are continuing to monitor trade-related headlines very closely, with significant developments surrounding tariff talks, which are likely to bounce the markets. For now, 1.1600 is a key resistance, and 1.1250 is the current floor.
NAS 100 bouncing back
Indices remain elevated with hopes that American and Chinese trade tensions could soon ease. President Trump has already stated that the current tariffs on Chinese imports is very high and it will come down substantially. How substantial is anyone’s guess? The hope is that stocks can benefit from some good news as earnings season rumbles. With the non-farm payrolls coming up, Wall Street will be hopeful that the signs will point in the opposite direction of a recession. 20000 is the next target, with 18400 as the support.
