- Major US stock indices close today with gains to start the new trading week
- Trump Press Conference: The entire country can be taken out in one night
- Netanyahu urged Trump in a call on Sunday not to go for a ceasefire - report
- Trump: Tuesday Iran deadline is 'final deadline'
- Iran rejects ceasefire in reply to US via Pakistan, wants permanent end to war
- March ISM services index 54.0 vs 54.9 expected
- S&P Global Canada services PMI 47.2 versus 46.5 last month
- Trump Iran ceasefire talks unapproved; Market Uncertainty Persists
- Israel says it conducted a "powerful strike" on Iran's largest petrochemical complex
- The USD is lower to kickstart the new trading week
- Iran says it has formulated a response to the US, will announce it in due time
- Iran reportedly says will not reopen Strait of Hormuz in exchange for a ceasefire
- Latest non-farm payrolls vindicates the Fed's wait-and-see approach - CIBC with European
With European markets and Canada closed for Easter Monday, liquidity was thinner, leaving price action more sensitive to headlines. As a result, geopolitics remained the dominant driver, with markets closely focused on escalating tensions in the Middle East.
President Trump reiterated and intensified his warning, stating that if the Strait of Hormuz is not reopened—and if progress toward ending the conflict is not achieved on U.S. terms—by 8 PM ET tomorrow, the U.S. has a plan to target and destroy bridges and energy infrastructure within hours, with damage that could take decades to rebuild.
Iran responded with its own escalation, warning that U.S.-linked data centers in the UAE—including facilities tied to Amazon, Microsoft, Oracle, and Equinix—are now considered potential targets in any retaliation. At the same time, Iran’s senior military leadership dismissed Trump’s threats as “delusional” and ineffective, signaling that their operations against U.S. and Israeli interests would continue.
Meanwhile reports indicate that Israeli Prime Minister Netanyahu urged President Trump during a Sunday call not to pursue a ceasefire, arguing that doing so could undermine the current military momentum against Iran. His position reflects a preference for continuing operations to maximize strategic gains, rather than pausing for diplomacy at this stage. The comments highlight a growing tension between military objectives and ongoing ceasefire discussions, adding another layer of uncertainty to an already fluid geopolitical backdrop.
With both sides (well all three) escalating rhetoric and outlining potential targets, the situation remains highly fluid and headline-driven, keeping markets on edge.
Nevertheless, US stocks moved higher during the session with the Nasdaq leading the way with a gain of 0.54%. The S&P rose 0.44% dn the Dow rose 0.36%.
US yields were marginally lower with the 2 year unchanged on the day while the 10 year down -1.1 basis points.
- Gold moved down -$27 or -0.59% at $4649.22.
- Silver fell $-0.26 or -0.36% at $72.75
The USD is mostly lower on the day.
- EURUSD is ending the day between 100/200 hour MA between 1.1532 to 1.1549. Traders will be looking for a break
- GBPUSD is closing below both the 200 hour MA at 1.3260 and the 100 hour MA at 1.3239. The price is trading at 1.3232.
- USDJPY is trading above the 100 and 200 hour MA at 159.289 and 159.46. The next upside target comes in at a swing area between 159.74 to 159.95.
- NZDUSD moved higher but stalled at a downward sloping trend line. The price moved back lower and back below the 100 hour MA at 0.5722. The downside targets come in at 0.5698 and then the low from Friday at 0.5677.
- AUDUSD moved higher but found willing sellers at the low of a swing area at 0.6938. The move lower, took the price lower to the 100 hour MA at 0.69086 where support held. That will be the battle as we head into the Asian session.
