WTI, the US crude oil benchmark, falls some 2.49%, poised to end the week with losses of over 7.39%, amid growing speculation that the US and Iran will reach an agreement to end the conflict.
Equities surge despite high oil and rate expectations. This outlook covers US CPI, the Fed Chair transition from Powell to Warsh, DXY's bearish technical setup, and the sustainability of the "risk-on" rally amidst geopolitical tensions.
Commodities
Copper prices are approaching record highs as investors focus on long-term demand from artificial intelligence, power grids and clean energy, while supply risks grow due to sulfuric acid disruptions, weaker output in Chile and new strategic mining projects in Congo.
Commodities
XAU/USD, XAG/USD Outlook: Precious metals show signs of a bullish awakening as the traditional inverse relationship with crude oil begins to fade. With Copper breaking year-to-date highs and Gold printing a massive weekly hammer candle, the "war-driven" bear trend appears to be exhausting. Explore our intraday technical analysis of XAU/USD and XAG/USD to identify key breakout levels.
Forex
USD/CHF trades on the back foot on Friday and is set for a second straight weekly decline amid broad-based weakness in the US Dollar (USD). At the time of writing, the pair is trading around 0.7773, hovering near two-month lows.
Indices
S&P 500, Dow Jones, Nasdaq Analysis and Trading Levels: Tech stocks propel the Nasdaq and S&P 500 to new heights as investors ignore geopolitical noise in favor of AI-driven growth. Despite diverging labor data and weak consumer sentiment, the bull run remains relentless. Explore critical technical levels for the major US indexes.
Forex
USD/CAD edges higher on Friday as softer-than-expected Canadian employment data weighs on the Canadian Dollar (CAD), even as the US Dollar (USD) remains on the back foot following mixed US labor market data and hopes for a US-Iran deal to end the war.
Forex
GBP/USD advances around 1.3630 on Friday at the time of writing, up 0.54% on the day, benefiting from broad US Dollar weakness following the release of the US employment report.
Commodities
Global Markets update: US equities remain stoic following retaliatory strikes on Iranian energy hubs and a solid NFP beat of 115K. Despite a miss in consumer sentiment and higher inflation expectations, the cold-truce narrative persists. Explore our intraday market outlook and technical levels for the weekend
Forex
Scotiabank strategists Shaun Osborne and Eric Theoret report the Euro (EUR) is modestly higher versus the Dollar, supported by risk sentiment around the US/Iran conflict despite softer German trade data and slightly reduced ECB tightening expectations.
