🌅 MORNING UPDATE — April 2, 2026 📊 NordFX Market Briefing

🛢️ OIL SURGES ON TRUMP SPEECH President Trump delivered a prime-time national address Wednesday night, vowing to hit Iran "extremely hard" over the next 2–3 weeks — reversing Tuesday's peace optimism. Brent crude jumped over 5% to above $106/barrel, while WTI rose nearly 4.8% to around $104.89. The Strait of Hormuz remains effectively closed, keeping global supply severely disrupted. Markets had briefly rallied on Tuesday after Trump hinted at winding down operations — only to be jolted again by the escalation address.

🌏 ASIAN MARKETS — IN THE RED Trump's speech whipsawed Asian markets that had just staged a massive relief rally on Tuesday's peace hopes.

Japan's Nikkei 225 fell 2.3%, the Topix dropped 1.5%. South Korea's KOSPI plunged 4.25%, with the small-cap KOSDAQ down 4.71% — both had opened over 1% higher before the speech hit. Hong Kong's Hang Seng down ~1.0% to around 25,038. Singapore's STI fell 0.63%. India's GIFT Nifty futures pointed 361 points lower, with markets closing Friday for Good Friday.

US futures joined the selloff — S&P 500 and Nasdaq-100 futures both down over 1%, Dow futures off ~440 points.

⚡ Every Trump statement is moving indexes by several percent in either direction — volatility is extreme.

📉 WALL STREET — WEDNESDAY CLOSE The S&P 500 closed up 0.72% at 6,575, the Nasdaq gained 1.16%, and the Dow added 224 points to 46,565 — before Trump's speech reversed the mood overnight.

💱 FOREX EUR/USD extended its rebound toward 1.1600, capitalizing on a softer USD as risk-on flows dominated the earlier Wednesday session. GBP/USD climbed above 1.3250–1.3300. Safe-haven demand is now returning post-speech, with the USD and JPY likely to reclaim ground. USD/JPY trading in the ~158–160 range.

🥇 GOLD Trading around $4,758/oz, with bullish momentum supported by geopolitical uncertainty and ongoing Middle East tensions. Remains near record territory, with major banks forecasting further upside through 2026.

₿ BITCOIN BTC consolidating near $66,830–$66,940, dipping slightly in Asian trade as risk-off sentiment returns.

⚠️ ON THE RADAR TODAY 📌 US Initial Jobless Claims 📌 Any Iran/Hormuz ceasefire developments 📌 Friday NFP — major volatility expected 📌 Many markets closed Friday (Good Friday)

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