Market Highlights
1 - Record closes in S&P (+0.83%) and NASDAQ (+1.63%)
2 - European indices close up on the day. DAX +0.31%, FTSE +0.44%, IBEX +0.11%
3 - Gold down $43 at $4794; Brent unchanged at $94.82; BTC continues gentle move high, up $800 at $74.8K
4 - USD loses ground today, with commodity currencies leading the way. AUD +0.61%, CAD -0.24%
5 - ECB sources: Policymakers wary of April rate hike
Daily Price Activity
Insights
USD INDEX A brief push higher early on, before sellers stepped in at the US session and brought prices back to the open. The weak USD trend has been in place all through the month as the risk on theme continues. Note current support has served as previous resistance earlier this year (Feb 2026). The hope of a potential settlement in the middle east contributing to the dollar sell-off. Resistance at 98.08 with support at 97.77.
S&P 500 Demand for US equities continued with the index adding to yesterday’s gains, extending the month-long rally and reaching record highs, trading comfortably above the 7000 mark. Note RSI reading at 69, almost at the 70/overbought level. Distinct inverse relationship between weak dollar and strong equities playing out. Resistance at 7054 with support at 6987.
GOLD The metal unable to hold onto yesterday’s gains as sellers controlled the day’s activity. Notwithstanding the red daily candlestick, the uptrend continues with a higher high and higher low on the chart. Interesting to note the USD and gold both moving lower today. As long as the commodity’s safe haven status remains intact, it appears that demand is at rest, or consolidating for now. Resistance at $4875 with support at $4787.
BRENT OIL Oil sits at yesterday’s close late in the US session with no real changes to the current status quo in the middle east conflict. The fragile ceasefire remains in place “officially” for another week, while the US blockade confirms the straits are not open. With the hope a peaceful settlement keeping oil prices below $100, it does feel that renewed hostile actions, or perhaps just new threats/rhetoric, may be enough to trigger upside spikes. Resistance at $96.59 with support at $93.73.
BITCOIN If nothing else, BTC is showing resilience, hanging tough around the $74K area. Although demand wanes above current levels, sellers have not done enough to reverse the gentle uptrend as buyers protect current support area. Technically a break above the $75-$76 level could ignite a long- awaited push higher. Resistance at $74.8 with support at $73.4K.
FX Pivot Levels
