LOOK AHEAD: US Macro Week Ahead: CPI and PPI

• RES 4: 1.4051 High Nov 28 
• RES 3: 1.4015 High Dec 2 ‘25
• RES 2: 1.3985 76.4% retracement of the Nov 5 ‘25 - Jan 30 bear leg
• RES 1: 1.3930/67 High Apr 7 / High Mar 31 and the bull trigger
• PRICE: 1.3851 @ 16:45 BST Apr 8
• SUP 1: 1.3822 20-day EMA 
• SUP 2: 1.3765 50-day EMA 
• SUP 3: 1.3670 Low Mar 23 and a key short-term support
• SUP 4: 1.3526 Low Mar 09

A bull cycle in USDCAD remains intact and for now, the latest pullback appears corrective. Note that moving average studies are in a bull-mode position, highlighting a dominant bull cycle. First support to watch lies at 1.3822, the 20-day EMA. The 50-day EMA lies at 1.3765. A clear break of the 50-day average is required to signal a stronger reversal. For bulls, a reversal higher would refocus attention on 1.3967, the Mar 31 high and bull trigger. 

• Gains were led by industrials (+3.6% in the S&P subindex), with Energy clearly lagging (-3.7%) as crude prices plummeted on the ratcheting-down of tensions.
• The biggest risers and losers included tech, consumer discretionary and industrial names alike on both ends: Intel (10.1%), Carnival (10.1%) and Corning (9.9%) on the upside, while some of the largest % drops were seen in LyondellBasell Industries NV (8.3%), Palantir Technologies Inc. (6.6%) and Dow Inc. (5.9%).
• Looking at latest futures levels:
• Dow Jones mini up 1247 pts or +2.66% at 47945, S&P 500 mini up 157.25 pts or +2.36% at 6798.25, NASDAQ mini up 657.75 pts or +2.7% at 24968.

A modest risk-on move with the USD pulling back and equities rising as Bloomberg headlines report Vice President Vance said Israel may be set to "check themselves" in Lebanon - recall that continued attacks by Israel on Lebanon were one of the sticking points for Iran in the nascent ceasefire.

"*VANCE: ISRAELIS HAVE OFFERED TO 'CHECK THEMSELVES' IN LEBANON"
"*VANCE: THERE HAVE BEEN TALKS BETWEEN ISRAEL, US TODAY" 
"*VANCE: IF IRAN DOESN'T HOLD UP AGREEMENT, WILL BE CONSEQUENCES"
-bbg