BOBL TECHS: (M6) Corrective Bounce
* RES 4: 116.925 61.8% retracement of the Mar 2 - 27 bear leg * RES 3: 116.770 High Mar 11 * RES 2: ...
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LOOK AHEAD: UK Timeline of Key Events (Times BST)
| Date | Time | Period | Event |
| 08-Apr | 0930 | Mar | S&P Global/CIPS Construction PMI |
| 09-Apr | 0930 | Q1 | BOE Credit Conditions Survey |
| 13-Apr | 0001 | --- | KPMG-REC Report on Jobs |
| 14-Apr | 0001 | Mar | BRC-KPMG Shop Sales Monitor |
| 14-Apr | 1700 | --- | BOE Bailey Panel at Columbia University |
| 14-Apr | 2000 | --- | BOE Greene Speech on Markets & Inflation |
| 15-Apr | 1650 | --- | BOE Bailey Panel on Stablecoins |
| 15-Apr | 1900 | --- | BOE Bailey Panel on Global Imbalances & Policy |
| 16-Apr | 0700 | Feb | GDP / Services / Production / Trade / Construction |
| 16-Apr | 2000 | --- | BOE Taylor Panel on International Imbalances |
| 21-Apr | 0700 | Feb/Mar | Labour Market Report |
| 22-Apr | 0001 | Mar | Brightmine pay deals for whole economy |
| 22-Apr | 0700 | Mar | Consumer Inflation Report / Producer Prices |
| 23-Apr | --- | --- | DMO Likely to Publish Gilt Remit Update |
| 23-Apr | 0700 | Mar | Public Sector Finances |
| 23-Apr | 0930 | Apr | S&P Global Flash PMIs |
| 23-Apr | 1100 | Apr | CBI Industrial Trends |
ASIA STOCKS: Stocks and AI / Tech Roar on Ceasefire News
Equities roared their approval of the ceasefire with major bourses all up strongly in Asia with the tech / AI heavy KOSPI and NIKKEI leading the charge.
The KOSPI led the way with gains of +7.10% with SK Hynix up +17% and Samsung up +11%. The key Japanese AI / tech stock Softbank rose +7.8%, KIOXIA up +18% whilst Tokyo Electron was up +9.6% to lead the NIKKEI higher by +5.3% and back above 56,000.
Even the China AI stocks were boosted with Tencent up +3.1% and Cambricon Tech +3.8% with all major China onshore bourses up over 2%.
Some market commentary centred around the 'risk off discount' being unwound, particularly in SE Asia where the JCI jumped +3.3%, the SE Thai up +1.3% and the FTSE Malay +0.97%.
India's markets are starting their trading day and already the NIFTY 50 is up +3.44% and eyeing 24,000. It remains the standout underperformer of its peers, down over 16% year to date
GBPUSD TECHS: Retracement Mode
- RES 4: 1.3575 High Feb 26
- RES 3: 1.3514 50.0% retracement of the Jan 27 - Mar 31 bear leg
- RES 2: 1.3479 High Mar 23
- RES 1: 1.3430 38.2% retracement of the Jan 27 - Mar 31 bear leg
- PRICE: 1.3417 @ 06:17 BST Apr 8
- SUP 1: 1.3287/3159 Intraday low / Low Mar 31 and the bear trigger
- SUP 2: 1.3125 Low Nov 26 ‘25
- SUP 3: 1.3038 Low Nov 20 ‘25
- SUP 4: 1.3010 Low Nov 4 & 5 and a key M/T support
Today’s rally in GBPUSD strengthens a short-term bullish theme and highlights an extension of the current corrective phase. Note that moving average studies are in a bear-mode position, highlighting a dominant downtrend and this suggests that - for now - gains are corrective. A continuation higher opens 1.3430, a Fibonacci retracement ahead of 1.3479, the Mar 23 high. Key support lies at 1.3159, the Mar 31 low.
