US futures, Globex, open for the new week's trade. Risk off, as expected.

US futures trade is open for the new week, gaps:

• S&P500 futures -1%, NQ also
• Brent +7%
• CL +7%

Early FX rates indicated the moves, as usual:

• Monday open FX (unlike the closed Strait of Hormuz). Indicative rates 20 April 2026.

• Oil and equity index futures open at the top of the hour. Early FX is indicating risk off

But the weekend news flow indicated it well before pricing did.