Oil

US stocks are set for a mixed open as Iran downplays Israel's attack, helping fears fade. Futures recovered earlier losses, and oil gave back earlier losses. Netflix reported stronger-than-expected Q1 earnings and revenues but is set to fall on the open after revenue guidance for the current quarter was modestly weaker than expected.

US stocks are inching higher after recent losses as chip stocks rebound following impressive earnings from TSMC and despite jobless claims coming in stronger than expected. TSMC is considered a bellwether for chip stocks, so the upbeat earnings have helped the sector, which had fallen in recent weeks. Attention is now turning to Netflix earnings after the closing bell.

EUR/USD rises as the USD rally pauses. Oil steadies after a steep fall yesterday.

The US dollar snapped a 6-day winning streak to allow AUD/USD to rebound from 64c in line with yesterday’s bias. And if AU employment figures perform today, it could extend its gains for a second day.

GBP/USD held at a five-month low after jobs data and ahead of Fed Chair Powell's speech. Oil rose after China's GDP growth and amid ongoing Middle Eastern tensions.

USD/JPY is less than a day's trade from 155, a level an ex-FX diplomat warned could trigger an intervention if breached. WTI crude oil seems to have solid support above $84, to hint at a swing low.

Net-short exposure to yen futures rose to a 16-year high last week, and now within reach of its record. Asset managers appear to be on the right side of the US dollar trade, with large speculators remaining net-short despite the dollar's rally. Net-long exposure for oil and gold futures continued to trend higher, but neither are at levels which screams sentiment extreme. And asset managers are on the cusp of flipping to net-long exposure to the VIX.

US stocks have steadied after yesterday's deep selloff. Mixed PPI data appears to have taken the edge off yesterday's hotter-than-forecast inflation data. US PPI eased by more than expected on a monthly basis but rose by more than expected on an annual basis. Meanwhile, US jobless claims were relatively unmoved, highlighting the ongoing resilience in the labour market. Elsewhere, the ECB left interest rates on hold at 4%.

US stocks point to a higher open after Federal Reserve Chair Powell's speech yesterday and following a rise in jobless claims. Initial claims rose by 9k to 221k, up from 212k ahead of tomorrow's non-farm payroll report. The data comes after Fed Chair Powell reassured the market that the Fed supports cutting rates this year but that more evidence of cooling inflation was needed.

EUR/USD rises post-Powell & ahead of the ECB minutes. Oil rises on supply concerns & an improving demand outlook.

US d=stocks point to a softer open after data highlights the resilience of the US economy. ADP payrolls rose 180k, up from 140k and ahead of forecasts. The data came after factory orders and JOLTS job openings, which were also stronger than anticipated. The persistent strength of the economy raises questions over whether the Fed can cut rares three times this year. Fed Chair Jerome Powell will speak shortly.

EUR/USD looks to eurozone inflation & US services PMI data. Oil rises to a 5- 5-month high ahead of the OPEC+ meeting.

US stocks are pointing to a weaker open, extending losses from the previous session as Treasury yields rise and ahead of several Fed speakers. US treasury yields have ticked higher after stronger-than-expected manufacturing PMIs from the US and China and as oil prices have risen to a 5-month high, suggesting that inflation could remain sticky. Federal Reserve speakers could provide more insight into when the Fed could start to cut rates.

US stocks are almost unchanged, hovering around record highs as investors weigh up an upward revision to US Q4 GDP and hawkish comments from Fe Governor Christopher Waller. Waller warned that the Fed was in no rush to cut rates. US Q4 GDP was upwardly revised to 3.4% annualized. Today is the final trading day of the first quarter which has seen 10% gains.

US stocks are set to rise on the open, helped higher by rises in AI stocks and amid a quiet economic calendar. Attention will be on Federal Reserve Governor Christopher Waller, who is due to speak later. Otherwise, the main focus is Friday's core PCE data, which comes when the market is closed for the Good Friday holiday. Today oil prices are falling 1% after oil inventories rose sharply.

US stocks are set to open higher, boosted by chipmakers, and as investors weigh up diverging Fed views over the scale of rate cuts this year. While Raphael Bostic sees just one rate cut this year, Austan Goolsbee sees three rate cuts in 2024, The spotlight will be on US core PCE data on Friday, which could provide more clues over the Fed's future path for rate cuts. Today, US durable goods orders rose more than expected.

EUR/USD inches higher after German confidence improves modestly. Oil holds yesterday’s gains on supply concerns, API data is due.