There aren’t any major expiries to take note of on the day, with the full list seen below.
With it being Easter Monday and all, expect it to be a quieter session in European morning trade today. With no major expiries in play, price action is likely to stay more muted amid a lack of key catalysts.
The only highlight on the economic calendar is the US ISM services PMI report today. However, the main focus of markets will stay on Middle East developments. So, headline risk will remain the most important driver of trading sentiment as we get into the new week.
That after US president Trump issued a fresh and stark threat against Iran that tomorrow will be “power plant and bridge day” unless the Strait of Hormuz is reopened. It is quite something to see a US president cursing on social media but we’ve come to accept that it is all part of Trump’s eccentric nature.
For now, Iran is maintaining that they are not going to give up their position. As such, oil prices are continuing to keep higher with the prospect of a prolonged conflict still on the cards. As Iran continues to keep a de facto closure on the strait, it just means that the status quo doesn’t change for markets.
In any case, the key deadline is now 7 April. And come tomorrow, that might all change again. The can continues to be kicked down the road. So, we’ll see how things go in the next 24 hours or so from here.
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