Final week’s value motion was pushed nearly fully by the US-Iran battle — in the event you missed it, catch the total recap right here. The quick model: a Trump social media put up about “productive talks” triggered a pointy Monday reversal, Iran denied all the things, and markets spent the remainder of the week repricing greater on geopolitical safe-haven demand and a string of scorching home information. Manufacturing PMI surged previous forecasts, Unit Labor Prices printed at greater than twice consensus, and Michigan inflation expectations jumped to three.8% — locking within the Fed-hold narrative and sending DXY to its greatest weekly shut in months.
On the Friday shut, DXY traded close to 100.19, decisively above the 100.00 deal with. Gold held round $4,493, stabilizing after a pointy selloff from early-March highs close to $5,200. The S&P 500 closed Friday close to 6,354 underneath strain from rising Treasury yields and stagflation nervousness now bleeding into the bond market.
WTI crude traded close to $98.70 on the Friday shut — confirm Sunday open given weekend escalation earlier than performing on this degree. Bitcoin holds $66,520 on the Sunday morning open.
The battle entered its fifth week with vital in a single day escalation: Houthi rebels fired their first ballistic missile towards Israel from Yemen, Iranian strikes on Saudi Arabia’s Prince Sultan Air Base wounded greater than two dozen US service members, and VP Vance said the conflict will proceed “a short time longer.” Trump’s April 6 deadline for Iran to reopen the Strait of Hormuz now arrives with positions on either side extra entrenched than seven days in the past.
Let’s have a look at how this will likely affect markets within the week forward.
