Fawad Razaqzada

US dollar analysis: Focus turns to sticky inflation and elevated interest rates narrative as markets regain their poise – for now – as Iran downplays the impact of Israel's strikes. The EUR/USD and USD/JPY will be in sharp focus with global PMIs and BoJ policy among other risk events coming up next week.

S&P analysis: As markets have started Q2 poorly, amid interest rate uncertainty and raised geopolitical risks, investors are relying on earnings to provide boost, starting with Netflix today. S&P 500 technical analysis suggests more losses could be on the way, with 5,000 on the bears' radars.

Middle East concerns should keep the downside limited for crude oil, after prices slid 3% as demand concerns intensified on weaker Chinese industrial data and amid the prospects of higher interest rates for longer. WTI technical analysis suggests the longer-term trend remains bullish, with the first short-term support level to watch coming in around $82 area.

Earnings have helped to lift the mood so far in today's session, but risk appetite could be limited amid ongoing geopolitical risks and uncertainty over interest rates outlook. DAX technical analysis shows the German index is still residing in a bearish channel, despite the bounce.

The S&P 500 extends losses to third week amid raised geopolitical risks and rising bond yields. Concerns over the escalation of the situation in the Middle East is at the forefront of investors’ minds. The situation remains volatile with Israel seeking revenge for Iran’s retaliatory attacks on Saturday.

German ZEW survey improves for 9th consecutive month to provide the euro some much-needed support. But the US dollar is likely to remain supported on dips and this should prevent rates from rising significantly. EUR/USD technical analysis point to an oversold bounce, but the trend remains bearish