EURUSD remains in a bear trap
The dollar’s dominance continued as last week’s job numbers surprised the market, pressuring the EURUSD.
As the euro shed over 100 pips, the pair will be looking for support.
With last week’s Euro inflation creeping higher, this week’s US inflation is expected to remain elevated.
1.1100 is the closest support, with 1.1260 the higher target.
UKOIL falls further
Oil remains indecisive as fresh talks on a peace plan in the Middle East take effect.
Traders have taken profits as the black gold gave up gains.
However, with tensions still simmering, investors are watching oil closely for another drive higher.
The price could probe the support at 92.00, with 114.00 as a potential target.
SPX 500 licking its wounds
The S&P500 looks to recover from last week’s correction, as the decline in tech and AI stocks was felt across the markets.
With the Democrats expected to pull back in its funding with AI, the S&P could fall further.
As the index drives towards 7300, any chance of a pullback would see 7720 as a major resistance.
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