🌅 NORDFX MORNING UPDATE | April 16, 2026
🌍 MACRO BACKDROP The dominant theme remains the US-Iran conflict and the fragile two-week ceasefire. A second round of talks is expected in Pakistan, but the Strait of Hormuz stays closed, with a US naval blockade still in force. Every diplomatic headline moves markets.
🌏 ASIA MARKETS China Q1 GDP came in at 5.0%, beating the 4.8% estimate - the key driver of today's Asian session. Nikkei 225 closed +0.44% at 58,134 | Topix +0.4% to 3,770 | Hang Seng +0.43% | CSI 300 -0.34% at 4,685 (profit-taking) | ASX 200 flat | Nifty 50 +1.56%. Unemployment ticked up to 5.4% and house prices fell 3.4% - a reminder China's recovery is uneven.
💵 USD - DOLLAR UNDER PRESSURE EUR/USD: 1.1802 | GBP/USD: ~1.3558 | USD/JPY: ~159.00. The Dollar stays near multi-year lows as markets price in a ~30% chance of a Fed rate cut in 2026.
🥇 GOLD - ~$4,823 XAU/USD trading around $4,823, today's range $4,817-4,871. Weak Dollar + geopolitical uncertainty = key support. Range: $4,760-$4,870. Bulls eye $5,000+; must defend $4,740.
🛢️ OIL - STEADY Brent: $94.66 | WTI: $90.72 - largely flat. Still ~40% above year-ago levels. Hormuz blockade keeps supply risk elevated. IEA warns of the first annual drop in global oil demand since 2020.
₿ BITCOIN - ~$74,800 BTC at $74,799, recovering strongly after dipping below $60K at peak war fear. A massive short squeeze on April 14 pushed prices up 5%+, breaking six-week resistance at $73K. Key resistance: $75K-76K | support: $70K-72K.
📅 WATCH TODAY 🔸 US Initial Jobless Claims 🔸 US PPI (key inflation read) 🔸 US-Iran talks / Hormuz headlines 🔸 Fed speakers
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