General Market Analysis – 27/04/26

429869 April 27, 2026 14:40 ICMarkets Market News

US Tech Stocks Drive Higher into the Weekend – Nasdaq up 1.6%

US equity markets closed out the week with a divergence in performance across the major indices. The Nasdaq outperformed, rallying 1.63% to finish at a record 24,836, while the S&P gained 0.80% to close at 7,165, also marking a fresh record close. In contrast, the Dow Jones lagged, slipping 0.16% to 49,230. In bond markets, US Treasury yields moved lower across the curve, with the 2-year yield falling 5.5 basis points to 3.778% and the 10-year yield declining 2.4 basis points to 4.301%. The move lower in yields came alongside weakness in the US dollar, with the USD Index dropping 0.26% to 98.51. Market sentiment in rates and FX was influenced by reports that the Department of Justice is set to close its investigation into Federal Reserve Chair Jerome Powell, opening the way for Kevin Warsh to take over the reins in the coming months. Commodity markets delivered a mixed performance to end the week. Brent edged higher by 0.25% to $105.33 per barrel, while WTI crude declined 1.51% to $94.40 per barrel, as uncertainty around Gulf negotiations continued to underpin elevated pricing despite a lack of concrete progress. Gold prices moved higher, gaining 0.32% to $4,709.50, supported by the softer US dollar and lower yields environment.

Geopolitics and Fundamentals to Drive Markets this Week

Geopolitical developments remained in focus over the weekend. A shooting incident at an event in Washington attended by President Trump is not expected to significantly impact market sentiment. However, reports that the US has cancelled a planned diplomatic trip to Pakistan may introduce a modest risk-off tone as the new trading week begins. Traders will continue to keep a very close eye on all updates on the Middle East, especially if there is any sign of an escalation in hostilities or the possibility of a reopening of the Strait of Hormuz, but they will also be turning their attention back to fundamentals as the week progresses, with several major central banks set to give interest rate updates and some key data releases set to drop. The main focus will be on how central banks are looking to react to the inflationary pressures brought about by recent surging energy prices and how much this could affect global markets in the coming months. With so many moving parts and updates in the coming days, traders are expecting to see plenty of volatility across all financial products.

Quiet Start to a Busy Trading Week

It is a quiet start to a busy trading week, with very little of note on the macroeconomic calendar to move markets for the first three sessions of the week. Trading conditions in the Asian session are expected to be relatively subdued, with both Australia and New Zealand observing public holidays, likely resulting in thinner liquidity across the region. We have seen some gapping in FX on the Asian open, with some dollar strength hitting the market from a haven perspective, but so far trading has been orderly. There is also very little on the calendar in both the London and New York sessions today, and so traders will be looking to the newswires for any geopolitical updates to spur fresh direction, with the Middle East still very much front of mind and attention for most.

The post General Market Analysis – 27/04/26 first appeared on IC Your Trading Edge | Official Blog.

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Ex-Dividend 27/04/2026

429839 April 24, 2026 17:40 ICMarkets Market News

The post Ex-Dividend 27/04/2026 first appeared on IC Your Trading Edge | Official Blog.

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IC Markets Global – Europe Fundamental Forecast | 24 April 2026

429836 April 24, 2026 15:00 ICMarkets Market News

IC Markets Global – Europe Fundamental Forecast | 24 April 2026

What happened in the Asia session?

Ongoing Middle East tensions, particularly Iran’s restrictions on the Strait of Hormuz and U.S. blockades under President Trump, driving oil prices higher with Brent futures above $101 per barrel, up 3.5% to a two-week high. No major new macroeconomic data releases were highlighted specifically for today, but recent forecasts noted China’s steady PBOC rates at 3.00% from earlier in the week alongside Japanese industrial data influencing BoJ expectations.

What does it mean for the Europe & US sessions?

Traders should focus on the Kiwi‑but‑cooling U.S. macro backdrop modest PMI upticks, resilient retail spending, and a softening labour market combined with Middle East risk premium swings that continue to drive oil, gold, and equity volatility; the mix supports a cautious‑risk‑on stance in equities while keeping FX and rates traders alert to any hawkish nuance that could reinforce “higher‑for‑longer” Fed expectations.

The Dollar Index (DXY)

Key news events today

Revised UoM Consumer Sentiment (2:00 pm GMT)

What can we expect from DXY today?

The US dollar has held within a tight band, supported by lingering geopolitical risk around the US–Iran situation and a still hawkish-leaning Fed narrative, but capped by fading inflation‑shock concerns and expectations of a shallow cutting cycle versus peers. Against major currencies, the greenback is broadly little changed.

Central Bank Notes:

The Federal Open Market Committee (FOMC) is widely expected to hold the federal funds rate target range steady at 3.50%–3.75% at its March 17–18, 2026, meeting, amid rising oil prices from the US-Israel war against Iran and persistent inflation pressures, delaying any 2026 cuts potentially to September.
The Committee continues to pursue maximum employment and 2% inflation goals, with the labor market weakening further as nonfarm payrolls declined by 92,000 in February 2026 and the unemployment rate rose to 4.4% from 4.3% in January.
Officials face tilted risks from geopolitical tensions, elevated oil prices, and sticky inflation, with CPI steady at 2.4% year-over-year in February 2026, headline PCE at 2.8% in January, and core PCE rising to 3.1%.
Economic activity has cooled after robust Q4 2025 growth of nearly 5%, with the Atlanta Fed GDPNow now estimating Q1 2026 growth at around 2.1%–2.7% amid softer consumer spending and labour data.
December 2025’s Summary of Economic Projections forecasts 2025 unemployment at a median of 4.5%, 2026 GDP growth at 2.3%, and core PCE at 2.5%, with the dot plot signalling one more cut in 2026 to a median 3.4% funds rate; March updates may reflect softer labor and inflation upticks.
The Committee maintains its data-dependent stance amid a softening labor market, inflation above target, and new oil shocks, likely holding rates at 3.50%-3.75% with ongoing divisions and possible hawkish dissents on rate cuts.
The FOMC continues its adjusted quantitative tightening, with Treasury rolloff caps at $5 billion per month and agency MBS at $35 billion per month to ensure ample reserves post-2025 program adjustments.
The next meeting is scheduled for 28 to 29 April 2026.

Next 24 Hours Bias
Medium Bearish

Gold (XAU)

Key news events today

Revised UoM Consumer Sentiment (2:00 pm GMT)

What can we expect from Gold today?

Gold prices edged lower, trading near the $4,690–$4,700 per ounce zone as a stronger dollar and cautious positioning trimmed the safe‑haven premium, even though Middle‑East ceasefire worries and shipping disruptions in the Strait of Hormuz continue to underpin the market.

Next 24 Hours Bias
Medium Bullish

The Euro (EUR)

Key news events today

No major news event

What can we expect from EUR today?

Today, the euro is trading in a cautious, range‑bound fashion, underpinned by the European Union’s final approval of a large 90‑billion‑euro loan package for Ukraine and fresh EU sanctions, which are keeping the region’s growth and inflation outlook in focus. In FX, EUR/USD is hovering near the mid‑1.15s as the Dollar reacts to global risk sentiment and central‑bank‑policy divergence.

Central Bank Notes:

The Governing Council of the ECB is expected to keep the three key interest rates unchanged at its 29–30 April 2026 meeting, with the main refinancing rate at 2.15%, marginal lending facility at 2.40%, and deposit facility at 2.00%. This reflects an ongoing commitment to 2% inflation stability amid heightened uncertainties from Middle East tensions and US trade policies under President Trump. Market probabilities indicate around 58% odds of no change, though some banks now price in potential hikes due to rising inflation risks.
Price dynamics show increasing upside pressures, with headline HICP inflation likely around 2.0-2.2% in early 2026, driven by energy costs from Middle East conflicts offsetting euro strength. Core inflation remains sticky but moderating slowly, with projections revised upward to 2.6% for 2026 overall amid hawkish signals from ECB leadership.
Updated Eurosystem staff projections for April 2026 may forecast headline inflation at 2.1-2.2% in 2026, 1.9% in 2027, and 2.0% in 2028, with upside risks from energy and trade dominating balanced prior views. A stronger euro provides some counterbalance, but recent data revisions highlight persistent pressures.
Euro area GDP growth holds steady, with Q2 2026 surveys suggesting 0.2-0.3% qoq growth, in line with 1.1-1.3% annual forecasts through 2027. Defence spending, infrastructure, and low unemployment support resilience against trade headwinds and softer external demand.
The labour market remains tight, with unemployment steady near 6.4%, bolstered by wage growth and participation gains. Supportive credit conditions continue aiding investment and consumption despite global risks.
Business sentiment is cautious amid US tariffs, geopolitical flare-ups, and supply chain easing; a somewhat weaker euro boosts exports, while fiscal measures aid domestic activity.
The Governing Council maintains its data-dependent, meeting-by-meeting stance, scrutinizing inflation, transmission, and external shocks without pre-committing to rate paths.
Balance sheet normalization advances smoothly, with APP/PEPP wind-downs complete and no liquidity issues; banks show ample reserves and stable funding access.

The next meeting is on 29 April 2026

Next 24 Hours Bias
Weak Bearish

The Swiss Franc (CHF)

Key news events today

SNB Chairman Schlegel Speaks (8:00 am GMT)

What can we expect from CHF today?

The Swiss franc today points to a pull‑back‑in‑progress after a longer‑term strengthening trend, with underlying fundamentals still tilted toward a moderately strong franc over 2026 as geopolitical and macro policy narratives keep safe‑haven demand intermittently elevated.

Central Bank Notes:

At its monetary policy assessment on 19 March 2026, the Swiss National Bank (SNB) is widely expected to leave the policy rate unchanged at 0%, continuing the extended pause since September 2025, as the Governing Board considers current settings adequate to keep inflation near the target without resorting to negative rates.
Inflation data since December indicate persistent weakness, with headline CPI hovering around 0% year-on-year through early 2026 and core measures subdued at roughly 0.4%, underscoring limited price pressures and lingering, though contained, deflation risks.
The SNB’s updated conditional inflation forecast shows minimal change from December, with averages of about 0.2% in 2025 (now complete), 0.3% in 2026, and 0.6% in 2027 under a steady 0% policy rate. However, recent flat CPI readings may slightly lower near-term expectations, preserving scope for further easing if needed.
Global conditions remain challenging, marked by U.S. tariff escalations under President Trump, subdued external demand, and uncertainties in major export markets such as Europe and the U.S., prompting the SNB to exercise caution despite resilient Swiss domestic activity.
Sentiment in manufacturing and export sectors stays soft amid franc appreciation and weaker foreign orders, squeezing margins. Yet, overall GDP growth is expected to be around 1.5% in 2026, with unemployment edging up modestly from historic lows.
The SNB reaffirms its readiness to intervene via rate cuts or FX operations should deflationary pressures intensify, while emphasizing clear communication through detailed meeting minutes and coordination with global partners on currency matters.

The next meeting is on 18 June 2026.

Next 24 Hours Bias
Medium Bearish

The Pound (GBP)

Key news events today

Retail Sales m/m (6:00 am GMT)

What can we expect from GBP today?

The pound faces a bearish short-term outlook as GBP/USD extends declines amid technical breakdowns and USD resilience, though stronger UK PMIs and potential BoE tightening limit deeper losses. Traders eye support at 1.3450 for possible rebounds, with risks skewed downward pending fresh catalysts.

Central Bank Notes:

The Bank of England’s Monetary Policy Committee (MPC) met on 19 March 2026, maintaining the Bank Rate at 3.75 per cent in a unanimous decision, following the prior narrow 5–4 vote to hold at the 5 February 2026 meeting. This pause reflects a sharp reversal from earlier market expectations of a 25-basis-point cut, driven by a Middle East conflict sparking global energy and commodity price surges. The March meeting did not include a Monetary Policy Report, with the next one due in April.
Quantitative tightening (QT) proceeds unchanged at the 2025 pace of gilt holdings reductions, maintaining gradual balance-sheet normalization attuned to liquidity conditions and supportive of a restrictive stance amid new shocks.
Headline CPI inflation faces near-term upside from the energy shock, reversing prior disinflation trends in domestic prices and wages; pre-shock services inflation had eased but now contends with higher utility and input costs, keeping pressures above the 2 per cent target. MPC projections will update in April, but analysts see inflation at 3-4 per cent by the end of 2026.
UK growth softens further into Q2 2026, with unemployment risks rising amid potential confidence drops, higher precautionary saving, and widening output gaps; regular pay growth had cooled pre-shock but now faces business cost pass-through.
Global headwinds intensify via Middle East conflict, driving volatile energy/commodity prices and sterling/gilt swings; MPC deems direct shocks manageable if demand weakens sufficiently to limit second-round effects.
Inflation risks now tilt upwards from energy persistence and potential wage/cost embedding, offset by downside from demand slack and job losses; prior balance has shifted amid uncertainty on shock duration.
The MPC adopts a wait-and-see posture post-shock, with policy deemed somewhat restrictive pre-event; all members are ready to act data-dependently for 2 per cent sustainability, eyeing April for fuller impact analysis and possible easing if disinflation resumes. Governor Bailey’s guidance stresses close monitoring without firm-cut commitments.
The next meeting is on 30 April 2026.
Next 24 Hours Bias
medium Bearish

The Canadian Dollar (CAD)

Key news events today

Core Retail Sales m/m (12:30 pm GMT)

Retail Sales m/m (12:30 pm GMT)

What can we expect from CAD today?

The Canadian dollar (CAD) shows stability amid ongoing US-Iran tensions and elevated oil prices on April 24, 2026. USD/CAD hovers around 1.3660-1.3700, steady after a recent three-day advance, as safe-haven demand bolsters the US dollar while crude oil support tied to Strait of Hormuz risks underpins the commodity-linked loonie.

Central Bank Notes:

The Governing Council held the overnight rate target steady at 2.25% at its 25 March 2026 meeting, aligning with consensus forecasts and extending the pause in policy adjustments amid balanced risks. The Bank emphasized persistent global uncertainties from Middle East conflicts and U.S. trade policies under President Trump, but affirmed the current stance supports ongoing disinflation without immediate shifts despite elevated energy price volatility.
U.S. tariff threats and regional geopolitical tensions continue weighing on business sentiment, though Canadian manufacturing PMI has edged higher into expansion territory, with export orders firming on energy demand. Goods exports, led by crude oil, sustained momentum into February, offsetting cautious capex as firms prioritize resilience over aggressive growth.
Economic growth carried into Q1 2026 at an annualized pace of around 2.2%, building on Q4 2025’s solid performance, fueled by resource exports, government outlays, and manufacturing rebound. February preliminary data points to steady expansion, though winter weather and supply chain frictions modestly curbed potential upside.
Services sector PMI climbed further above 50, with broad gains in tech, hospitality, and business services; consumer-facing areas showed tentative improvement as real wages rose, though high service costs still restrained discretionary outlays. The Bank sees this diffusion as evidence of rebalancing toward sustainable activity.
National housing resales ticked up in January-February alongside modest price gains, buoyed by stable rates and improved affordability in select regions, while inventory buildup in urban centers prevents excessive tightening. Officials anticipate continued moderation, aided by prudent mortgage rules amid steady household formation.
Headline CPI eased to about 2.1% year-over-year in February 2026 estimates, staying within the control band, as core gauges like CPI-trim and median dipped to near 2.7% on softer food and durable goods pressures—despite sticky shelter costs. This reinforces the Bank’s view of inflation sustainably approaching the target.
Policymakers reiterated that 2.25% remains well-calibrated to anchor 2% inflation and foster adjustment, with no cuts signaled barring downside surprises in growth or prices. Attention now turns to Q2 durability, core inflation persistence, and evolving trade/geopolitical clarity.
The next meeting is on 29 April 2026.

Next 24 Hours Bias
Medium Bearish

Oil

Key news events today

No major news event

What can we expect from Oil today?

Oil markets today are gripped by heightened tensions from the ongoing US-Iran conflict, with President Trump’s ceasefire extension failing to ease fears over disruptions in the Strait of Hormuz. WTI crude has broken back above $96 per barrel following an inverted head and shoulders pattern, while broader benchmarks like Brent hover around $97-$109 amid reports of Iran potentially laying mines and seizing ships, driving a year-to-date surge of nearly 100%.

Next 24 Hours Bias
Medium Bullish

The post IC Markets Global – Europe Fundamental Forecast | 24 April 2026 first appeared on IC Your Trading Edge | Official Blog.

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Friday 24th April 2026: Technical Outlook and Review

429817 April 24, 2026 14:41 ICMarkets Market News

DXY (U.S. Dollar Index):

Potential Direction: Bullish

Overall momentum of the chart: Bearish

The price has already bounced off the pivot and may continue its bullish move toward the 1st resistance

Pivot: 98.53

Supporting reasons: Identified as an overlap support, where renewed buying pressure could emerge to push the price higher.

1st support: 97.83

Supporting reasons: Identified as an overlap support, indicating a potential area where the price could again stabilize.

1st resistance: 99.32
Supporting reasons: Identified as a pullback resistance, indicating a potential area that could halt any further upward movement

EUR/USD:

Potential Direction: Bearish

Overall momentum of the chart: Bullish

The price has already reacted off the pivot and may continue its bearish move toward the 1st support.

Pivot: 1.1720

Supporting reasons: Identified as a pullback resistance, where selling pressures could intensify and potentially cap any upward retracement.

1st support: 1.1620

Supporting reasons: Identified as an overlap support, indicating a potential level where the price could stabilize once again.

1st resistance: 1.1851

Supporting reasons: Identified as an overlap resistance, indicating a potential level that could cap further upward movement.

EUR/JPY:

Potential Direction: Bearish

Overall momentum of the chart: Bullish

The price could see a short-term pullback toward the pivot before continuing its bearish move down toward the 1st support.

Pivot: 187.100

Supporting reasons: Identified as a pullback resistance, where selling pressures could intensify and potentially cap any upward retracement.

1st support: 186.10
Supporting reasons: Identified as an overlap support, indicating a potential area where the price could again stabilize.

1st resistance: 187.88
Supporting reasons: Identified as a swing high resistance, indicating a potential level that could cap further upward movement.

EUR/GBP:

Potential Direction: Bearish
Overall momentum of the chart: Bullish

The price could see a short-term pullback toward the pivot before continuing its bearish move down toward the 1st support.

Pivot: 0.8686

Supporting reasons: Identified as a pullback resistance, where selling pressures could intensify and potentially cap any upward retracement.

1st support: 0.8660
Supporting reasons: Identified as an overlap support, indicating a potential area where the price could stabilize once more.

1st resistance: 0.8721
Supporting reasons: Identified as a swing high resistance, indicating a potential level that could cap further upward movement.

GBP/USD:

Potential Direction: Bearish
Overall momentum of the chart: Bullish

The price could see a short-term pullback toward the pivot before continuing its bearish move down toward the 1st support.

Pivot:1.3478

Supporting reasons: Identified as a pullback resistance, where selling pressures could intensify and potentially cap any upward retracement.

1st support: 1.3345
Supporting reasons: Identified as a pullback support, indicating a potential area where the price could stabilize once more.

1st resistance: 1.3598
Supporting reasons: Identified as a pullback resistance, indicating a potential level that could halt further upward movement.

GBP/JPY:

Potential Direction: Bullish

Overall momentum of the chart: Bullish

The price could see a short-term pullback toward the pivot before rising again toward the 1st resistance.

Pivot: 213.30

Supporting reasons: Identified as a pullback support, where renewed buying pressure could emerge to push the price higher.

1st support: 211.47
Supporting reasons: Identified as a pullback support, indicating a potential level where the price could stabilize once more.

1st resistance: 215.72
Supporting reasons: Identified as a resistance that aligns with the 161.8% Fibonacci extension, indicating a potential level that could halt further upward movement.

USD/CHF:

Potential Direction: Bearish

Overall momentum of the chart: Bearish

The price has already reacted off the pivot and may continue its bearish move toward the 1st support.

Pivot: 0.7874

Supporting reasons: Identified as an overlap resistance, where selling pressures could intensify and potentially cap any upward retracement.

1st support: 0.7795
Supporting reasons: Identified as an overlap support, indicating a potential level where the price could stabilize once again.

1st resistance: 0.7918
Supporting reasons: Identified as an overlap resistance, indicating a potential level that could cap further upward movement.

USD/JPY:

Potential Direction: Bullish

Overall momentum of the chart: Bullish

The price could see a short-term pullback toward the pivot before rising again toward the 1st resistance.

Pivot: 159.11

Supporting reasons: Identified as an overlap support, where renewed buying pressure could emerge to push the price higher.

1st support: 157.66

Supporting reasons: Identified as an overlap support, indicating a strong area where buyers might return, and the price could stabilize once again.

1st resistance: 160.46

Supporting reasons: Identified as an overlap resistance. This level represents the next key area where upward movement could be capped amid increased selling pressure

USD/CAD:

Potential Direction: Bearish

Overall momentum of the chart: Bullish

The price could see a short-term pullback toward the pivot before continuing its bearish move down toward the 1st support.

Pivot: 1.3735

Supporting reasons: Identified as an overlap resistance, where selling pressures could intensify and potentially cap any upward retracement.

1st support: 1.3643

Supporting reasons: Identified as a pullback support, indicating a key level where the price could stabilize once more.

1st resistance: 1.3806

Supporting reasons: Identified as a pullback resistance, making it a possible target for bullish advances and a level where some sellers could return to cap gains

AUD/USD:

Potential Direction: Bullish

Overall momentum of the chart: Bullish

The price could see a short-term pullback toward the pivot before rising again toward the 1st resistance.

Pivot: 0.7089

Supporting reasons: Identified as a pullback support, where renewed buying pressure could emerge to push the price higher.

1st support: 0.6999

Supporting reasons: Identified as an overlap support, this area has provided strong support historically and may attract buying interest for a potential short-term bounce

1st resistance: 0.7210

Supporting reasons: Identified as a swing high resistance, indicating a potential area that could halt any further upward movement.

NZD/USD

Potential Direction: Bearish

Overall momentum of the chart: Bullish

The price could see a short-term pullback toward the pivot before continuing its bearish move down toward the 1st support.

Pivot: 0.5856

Supporting reasons: Identified as an overlap resistance, where selling pressures could intensify and potentially cap any upward retracement.

1st support: 0.5777

Supporting reasons: Identified as a pullback support, this area has provided strong support historically and may attract buying interest for a potential short-term bounce

1st resistance: 0.5920

Supporting reasons: Identified as a multi-swing high resistance, indicating a potential area that could halt any further upward movement.

US30 (DJIA):

Potential Direction: Bullish

Overall momentum of the chart: Bullish

The price could see a short-term pullback toward the pivot before rising again toward the 1st resistance.

Pivot: 48,770

Supporting reasons: Identified as an overlap support, where renewed buying pressure could emerge to push the price higher.

1st support: 46,578.51

Supporting reasons: Identified as a pullback support, suggesting a potential area where the price could stabilize once again.

1st resistance: 49,913.81

Supporting reasons: Identified as a pullback resistance, indicating a potential area that could halt any further upward movement.

DE40 (DAX):

Potential Direction: Bullish

Overall momentum of the chart: Bullish

The price has already bounced off the pivot and may continue its bullish move toward the 1st resistance

Pivot: 23,968.53

Supporting reasons: Identified as an overlap support, where renewed buying pressure could emerge to push the price higher.

1st support: 23,385.36

Supporting reasons: Identified as a pullback support, indicating a key level where the price could stabilize once more.

1st resistance: 25,330.21

Supporting reasons: Identified as an overlap resistance, indicating a potential area that could halt any further upward movement.

US500 (S&P 500):

Potential Direction: Bullish

Overall momentum of the chart: Bullish

The price could see a short-term pullback toward the pivot before rising again toward the 1st resistance.

Pivot: 7,007.40

Supporting reasons: Identified as a pullback support, where renewed buying pressure could emerge to push the price higher.

1st support: 6,897.09

Supporting reasons: Identified as a pullback support, indicating a potential level where the price could stabilize once again.

1st resistance: 7,191.60

Supporting reasons: Identified as a resistance that aligns with the 127.2% Fibonacci extension, indicating a potential area that could halt any further upward movement.

BTC/USD (Bitcoin):

Potential Direction: Bullish

Overall momentum of the chart: Bearish

The price could see a short-term pullback toward the pivot before rising again toward the 1st resistance.

Pivot: 73,432.05

Supporting reasons: Identified as a pullback support, where renewed buying pressure could emerge to push the price higher.

1st support: 70,413.20

Supporting reasons: Identified as a pullback support, indicating a potential level where the price could stabilize once more.

1st resistance: 79,412.15

Supporting reasons: Identified as a swing high resistance, indicating a potential area that could halt any further upward movement.

ETH/USD (Ethereum):

Potential Direction: Bullish

Overall momentum of the chart: Bullish

The price could see a short-term pullback toward the pivot before rising again toward the 1st resistance.

Pivot: 2,2257.95

Supporting reasons: Identified as an overlap support, where renewed buying pressure could emerge to push the price higher.

1st support: 2,169.68

Supporting reasons: Identified as an overlap support, indicating a potential level where the price could stabilize once more.

1st resistance: 2,423.81
Supporting reasons: Identified as a swing high resistance, indicating a potential area that could halt any further upward movement.

WTI/USD (Oil):

Potential Direction: Bullish

Overall momentum of the chart: Bullish

The price has already bounced off the pivot and may continue its bullish move toward the 1st resistance

Pivot: 94.78

Supporting reasons: Identified as a pullback support, where renewed buying pressure could emerge to push the price higher.

1st support: 84.86
Supporting reasons: Identified as an overlap support, indicating a key level where the price could stabilize once more.

1st resistance: 105.53
Supporting reasons: Identified as an overlap resistance, indicating a potential area that could halt any further upward movement.

XAU/USD (GOLD):

Potential Direction: Bearish

Overall momentum of the chart: Bullish

The price could see a short-term pullback toward the pivot before continuing its bearish move down toward the 1st support.

Pivot: 4,792.71

Supporting reasons: Identified as a pullback resistance that aligns with the 50% Fibonacci retracement, where selling pressures could intensify and potentially cap any upward retracement.

1st support: 4,677.28
Supporting reasons: Identified as an overlap support, indicating a key level where the price could stabilize once more.

1st resistance: 4,889.41
Supporting reasons: Identified as an overlap resistance, indicating a potential area that could halt any further upward movement.

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The post Friday 24th April 2026: Technical Outlook and Review first appeared on IC Your Trading Edge | Official Blog.

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Friday 24th April 2026: Asia-Pacific Markets Mixed as Israel-Lebanon Ceasefire Extension Fails to Ease Investor Caution

429816 April 24, 2026 14:40 ICMarkets Market News

Global Markets:

Asian Stock Markets : Nikkei up 0.67%, Shanghai Composite down 0.58% Hang Seng down 0.26% ASX down 0.42%
Commodities : Gold at $4,677.96 (-0.97%) Silver at $74.745 (-1.03%), Brent Oil at $106.03 (0.91%), WTI Oil at $96.52 (0.07%)
Rates : US 10-year yield at 4.330, UK 10-year yield at 4.9460, Germany 10-year yield at 3.0042

News & Data:

(USD) Unemployment Claims 214K to 211K expected

Markets Update:

Asia-Pacific markets traded mixed as investors stayed cautious despite a three-week extension of the Israel-Lebanon ceasefire, highlighting continued geopolitical uncertainty across global markets. Israel and Lebanon agreed to prolong the temporary truce after discussions at the White House with senior U.S. officials, according to President Donald Trump on Thursday. He described the talks positively, saying on Truth Social that the meeting “went very well” and confirmed the ceasefire extension.

The truce, initially scheduled to last 10 days, will now remain in place longer to allow further diplomatic engagement. Washington also pledged to cooperate with Lebanon to strengthen its defenses against Hezbollah, reflecting ongoing regional security concerns.

Meanwhile, U.S. oil futures rose about 1.23% to around $97.03 per barrel, supported by worries over potential energy supply disruptions linked to tensions involving Iran. In Japan, the Nikkei 225 gained 0.71% and the Topix rose 0.30% after core inflation accelerated to 1.8% in March, matching economists’ expectations and rising from 1.6% in February.

Elsewhere, South Korea’s Kospi slipped 0.23% while the Kosdaq added 1%. Hong Kong’s Hang Seng declined 0.61%, the CSI 300 fell 0.28%, and Australia’s S&P/ASX 200 dropped 0.29%.

Overnight on Wall Street, stocks retreated slightly as higher oil prices and uncertainty surrounding the Iran conflict weighed on investor sentiment.

Upcoming Events:

12:30 PM GMT – USD Core Retail Sales m/m
12:30 PM GMT – USD Retail Sales m/m

The post Friday 24th April 2026: Asia-Pacific Markets Mixed as Israel-Lebanon Ceasefire Extension Fails to Ease Investor Caution first appeared on IC Your Trading Edge | Official Blog.

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General Market Analysis – 24/04/26

429814 April 24, 2026 14:00 ICMarkets Market News

US Markets Drop as Gulf Tensions Increase – Nasdaq down 0.9%
Global financial markets adopted a more cautious tone in the latest session, as rising geopolitical tensions in the Middle East weighed on investor sentiment. Increased naval activity from both the United States and Iran around the Strait of Hormuz heightened concerns over potential supply disruptions, prompting a broad-based risk-off move across asset classes. US equity markets closed lower, with all three major indices finishing in negative territory. The Dow declined by 0.36% to close at 49,310, while the S&P 500 fell 0.41% to 7,108. The technology-heavy Nasdaq underperformed, dropping 0.89% to 24,438, reflecting a pullback in growth-oriented sectors.

In fixed income markets, US Treasury yields moved higher across the curve. The 2-year yield rose by 3.5 basis points to 3.833%, while the benchmark 10-year yield increased by 2.2 basis points to 4.325%. In currency markets, the US dollar strengthened modestly, with the DXY advancing 0.21% to 98.80. Oil benchmarks rose again, with Brent crude up 4.40% to settle at $106.39 per barrel, while West Texas Intermediate (WTI) gained 4.36% to $96.99 per barrel. In contrast, gold prices declined by 0.96% to $4,694.14 per ounce, as the firmer US dollar exerted downward pressure on the precious metal.

Oil on the Rise as Middle East Tensions Increase
Crude oil prices rallied sharply yesterday amid renewed concerns over supply constraints linked to developments in the Gulf region. It has been another volatile week for financial markets; however, the one consistent move that we have seen since the Monday open has been the rise of oil prices. Oil has been the main barometer for the conflict in the Middle East ever since the US and Israel commenced strikes against Iran at the end of February, and whilst we have seen other markets, particularly stocks, looking more resilient with regard to the geopolitical risks presented by the conflict this week, it has been one-way traffic for oil. WTI has seen a 13% rise from its Monday low just above $87 a barrel to its peak above $98 a barrel yesterday, and with news of more ship seizures from both sides seeming to increase over the past 24 hours, unless we see a dramatic turnaround in the Strait of Hormuz, we should see it back through the $100 mark again, with any outright resumption of hostilities likely to see moves back to highs just under $120 a barrel.

Another Volatile Friday to Close Out the Trading Week
Looking ahead, the macroeconomic calendar remains relatively light, suggesting that market direction is likely to remain driven by geopolitical developments yet again. However, several data releases and central bank commentary are scheduled and may provide incremental direction. In the European session, attention will be on UK Retail Sales data (exp 0.0% m/m), followed by remarks from Swiss National Bank Chairman Martin Schlegel, which could see some moves in the franc. In the US session, markets will focus on Canadian Retail Sales (exp +0.9% m/m) and Core Retail Sales (exp +0.8% m/m) early in the day, before we then have the revised readings of the University of Michigan Consumer Sentiment (exp 48.5) and University of Michigan Inflation Expectations (last 4.8%) to close out the calendar week. Overall, with geopolitical risks elevated and limited macroeconomic catalysts, markets are expected to remain sensitive to incoming headlines, particularly those relating to developments in the Middle East, with the final session of the day—and week—particularly vulnerable to sharp moves if fresh news coincides with thinner liquidity.

The post General Market Analysis – 24/04/26 first appeared on IC Your Trading Edge | Official Blog.

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IC Markets Global – Asia Fundamental Forecast | 24 April 2026

429813 April 24, 2026 14:00 ICMarkets Market News

IC Markets Global – Asia Fundamental Forecast | 24 April 2026

What happened in the U.S. session?

U.S. markets absorbed a mildly higher-than-expected jobless claims print and the Census BTOS release without major disruption, but ServiceNow’s sharp decline highlighted sector-specific risks from geopolitical tensions, with equities showing hesitation near highs amid Iran war developments.

What does it mean for the Asia Session?

Elevated Middle‑East‑driven oil prices and fragile geopolitical risk sentiment, which are underpinning both equity optimism and safe‑haven demand, while the regional backdrop remains dominated by China’s steady‑rate posture, record‑high tech‑driven indices in Japan, South Korea, and Taiwan, and continued pressure on margins and rate expectations from double‑digit‑percent oil levels.

The Dollar Index (DXY)

Key news events today

Revised UoM Consumer Sentiment (2:00 pm GMT)

What can we expect from DXY today?

The US dollar maintains a firm stance near weekly highs around DXY 98.4, driven by safe-haven demand amid lingering US-Iran ceasefire doubts, Trump’s indefinite extension, and Strait of Hormuz risks, despite April’s modest 1.55% losses. Hawkish Fed signals, strong retail sales, and structural edges like US oil exports bolster it against majors.

Central Bank Notes:

The Federal Open Market Committee (FOMC) is widely expected to hold the federal funds rate target range steady at 3.50%–3.75% at its March 17–18, 2026, meeting, amid rising oil prices from the US-Israel war against Iran and persistent inflation pressures, delaying any 2026 cuts potentially to September.
The Committee continues to pursue maximum employment and 2% inflation goals, with the labor market weakening further as nonfarm payrolls declined by 92,000 in February 2026 and the unemployment rate rose to 4.4% from 4.3% in January.
Officials face tilted risks from geopolitical tensions, elevated oil prices, and sticky inflation, with CPI steady at 2.4% year-over-year in February 2026, headline PCE at 2.8% in January, and core PCE rising to 3.1%.
Economic activity has cooled after robust Q4 2025 growth near 5%, with the Atlanta Fed GDPNow now estimating Q1 2026 growth at around 2.1%–2.7% amid softer consumer spending and labor data.
December 2025’s Summary of Economic Projections forecasts 2025 unemployment at a median of 4.5%, 2026 GDP growth at 2.3%, and core PCE at 2.5%, with the dot plot signaling one more cut in 2026 to a median 3.4% funds rate; March updates may reflect softer labor and inflation upticks.
The Committee maintains its data-dependent stance amid a softening labor market, inflation above target, and new oil shocks, likely holding rates at 3.50%-3.75% with ongoing divisions and possible hawkish dissents on rate cuts.
The FOMC continues its adjusted quantitative tightening, with Treasury rolloff caps at $5 billion per month and agency MBS at $35 billion per month to ensure ample reserves post-2025 program adjustments.
The next meeting is scheduled for 28 to 29 April 2026.

Next 24 Hours Bias

Medium Bearish

Gold (XAU)

Key news events today

Revised UoM Consumer Sentiment (2:00 pm GMT)

What can we expect from Gold today?

Gold prices have shown volatility amid ongoing geopolitical tensions, particularly related to US-Iran dynamics and the Strait of Hormuz blockade, with spot gold trading around $4,720 per ounce as of late April 23, 2026, down 0.40% from the prior day but up significantly year-over-year.

Next 24 Hours Bias
Medium Bullish

The Australian Dollar (AUD)

Key news events today

No major news event

What can we expect from AUD today?

The Australian dollar is trading near a four‑year high around 0.715–0.72 versus the US dollar, supported by improved global risk sentiment, optimism over a potential easing of Middle East tensions, and a resilient local jobs market that keeps the door open for further RBA tightening.

Central Bank Notes:

The Reserve Bank of Australia (RBA) is expected to hold its cash rate at 3.85% at the March 16-17, 2026 policy meeting, following the widely anticipated 25 basis point hike to 3.85% in early February after persistent inflation pressures from late 2025. While some banks like CBA, NAB, and Westpac now forecast a further 25-basis-point rise to 4.10% as soon as May if inflation data remains sticky, consensus tilts toward a pause in March to assess incoming monthly CPI and labor market signals. The February hike reversed prior cuts, entering mildly restrictive territory amid capacity pressures, with the board emphasizing data dependence.
Inflation remains elevated, with December 2025 CPI at 3.8% year-on-year and trimmed mean at 3.3%, above the 2–3% target midpoint. RBA’s February Statement revised forecasts higher, projecting trimmed-mean inflation to peak in mid-2026 above 3% and remain elevated through early 2027, driven by services, housing, and demand resilience despite some monthly cooling, such as January’s 0.2% MoM gauge. Monthly CPI data continues to highlight core stickiness beyond energy rebates, delaying the target return to late 2027 or beyond.
January 2026 monthly indicators showed modest easing, but headline CPI risks upward surprises from housing (up recently) and services amid firm domestic demand. Trimmed mean pressures persist from wage growth and capacity constraints, with consumer expectations ticking to 5% YoY in February surveys. Enhanced monthly reporting sharpens vigilance on potential broad-based pick-up.
The labor market shows softening, with unemployment around 4.1-4.4%, down slightly to 4.1% in December, but unit labor costs are elevated due to subdued productivity. Household spending faces higher borrowing costs post-hike, yet private demand recovery sustains capacity strains. Vulnerabilities persist amid resilient employment dynamics.
Global growth modestly revised up but tempered by geopolitics and commodity volatility; policy now restrictive post-February, with the RBA balancing inflation against employment risks. Data from the monthly CPI and Q1 GDP will guide, amid household debt sensitivities.
Sustained restrictive stance post-February anchors inflation return to target, upholding dual mandate with flexibility to new risks like further inflation upticks.
Markets price a March hold at 3.85%, with big four banks split: CBA, NAB, Westpac eye May hike to 4.10% if persistence continues, while others see limited upside unless acceleration. Upcoming monthly CPI pivotal for Q2 trajectory.
Policy vigilance counters inflation stickiness against household fragilities and global uncertainties, reaffirming adaptability under dual mandate.
Base case favors March hold with risks tilted hawkish for further hikes if data is hot; monthly indicators key to 2026 path.
The next meeting is on 5 to 6 May 2026.

Next 24 Hours Bias

Strong Bullish

The Kiwi Dollar (NZD)

Key news events today

No major news event

What can we expect from NZD today?

The New Zealand Dollar is firmer, helped by a softer US dollar, a modestly risk‑on tone, and above‑consensus domestic inflation that keeps the RBNZ on a cautiously hawkish path, though the currency remains range‑bound and sensitive to global risk and Fed‑led US‑dollar moves.

Central Bank Notes:

The Reserve Bank of New Zealand’s (RBNZ) Monetary Policy Committee (MPC) is widely expected to hold the Official Cash Rate (OCR) steady at 2.25% at its 8 April 2026 Monetary Policy Review, aligning with unanimous market consensus from Reuters polls and previews.
The MPC continues its data-dependent “wait-and-see” approach after February’s pause, balancing stimulus from prior 325-basis-point cuts against inflation’s path back to the 2% target, with readiness for gradual normalization only if the recovery strengthens or inflation exceeds forecasts.
Headline CPI, last at 3.1%, is on track to re-enter the 1-3% band in Q2 2026 and hit 2% by mid-2027, aided by spare capacity, moderating wages, and softer food/fuel prices; two-year business inflation expectations have ticked up slightly to 2.37%.
Household spending and housing remain subdued amid cautious consumption, low net migration, and labor market softness, though easing retail rates support budgets; high-frequency GDP indicators show steadying momentum in an early recovery phase.
Accommodative borrowing costs from the low OCR are boosting mortgage approvals and sentiment, but business credit growth lags due to uneven confidence; overall stimulus persists below the 3% neutral rate.
Risks are balanced, with a favorable global environment—including stronger dairy/meat exports and a softer NZ dollar—offsetting oil shocks and prior China/US trade worries; vigilance remains on second-round inflation effects.
Forecasts point to potential OCR hikes starting late 2026 (e.g., December) or early 2027 to 2.50% by year-end if activity/inflation firms, but policy stays supportive if recovery unfolds gradually as expected.
The next meeting is on 27 May 2026.

Next 24 Hours Bias

Medium Bullish

The Japanese Yen (JPY)

Key news events today

No major news event

What can we expect from JPY today?

The Japanese Yen remains under depreciation pressure against the USD near 159, supported by official verbal warnings but lacking fresh catalysts like rate hikes or interventions, as BOJ rhetoric tempers hike bets and global risk dynamics weigh on its safe-haven appeal. Traders watch for potential FX action amid positioning for stability.

Central Bank Notes:

The Policy Board of the Bank of Japan meets on 18–19 April 2026, with markets anticipating the short-term policy rate to remain at 0.75%, as the bank continues evaluating the December 2025 and prior hikes’ effects amid data-dependent normalization.
The BOJ will target the uncollateralized overnight call rate around 0.75% and indicate future hikes hinge on impacts to lending, financing, and activity, with Governor Ueda signaling scrutiny of data for potential moves in April or later meetings.
JGB tapering advances per plan, cutting outright purchases by ¥400 billion quarterly through Q1 2026 and slowing to ¥200 billion from April onward, targeting roughly ¥2-3 trillion monthly by mid-2026, adjustable for market stability
Japan’s economy maintains moderate growth into Q1 2026, building on the Q4 2025 rebound via exports and fiscal measures, though manufacturing sentiment holds soft amid overseas demand weakness and yen pressures.
Core CPI (ex-fresh food) likely stays near 2.3-2.5% y/y in early 2026. Tokyo prints off prior highs but above 2%, while core-core hovers around 2.6%, reflecting sustained but easing inflationary forces.
Input costs ease further from import peaks, yet services inflation, 5% wage targets in shunto talks, and anchored expectations above 2% support price persistence, with upside risks from yen and geopolitics.
Near-term real GDP may ease below trend due to tightening and external shocks like Iran tensions, but negative real rates, wage gains, and stimulus should underpin consumption and capex rebound.
Medium-term, overseas recovery, labor shortages, and productivity lifts are set to fuel wages and core inflation near/above 2%, enabling gradual hikes toward 1% if conditions align.
The next meeting is on 27 to 28 April 2026.

Next 24 Hours Bias

Weak Bearish

Oil

Key news events today

No major news event

What can we expect from Oil today?

Oil markets are still trading in a relatively tight range, underpinned by a mix of easing Middle‑East tensions, expectations of a US–Iran peace deal, and an OPEC+‑led gradual return of supply, which is keeping a lid on upside pressure despite lingering supply‑risk concerns.

Next 24 Hours Bias
Medium Bullish

The post IC Markets Global – Asia Fundamental Forecast | 24 April 2026 first appeared on IC Your Trading Edge | Official Blog.

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Ex-Dividend 24/04/2026

429810 April 24, 2026 12:00 ICMarkets Market News

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Ex-Dividend 23/04/2026

429763 April 22, 2026 17:40 ICMarkets Market News

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Wednesday 22nd April 2026: Nikkei Hits Record High as Ceasefire Extension Fails to Lift Broader Asia-Pacific Markets

429761 April 22, 2026 15:40 ICMarkets Market News