✍🏻 EU/UK Market Open (Apr 29, Wednesday 2026)

Good morning everyone!

Global markets are navigating a high-stakes crossroads as we head into the European open. US futures are catching a bid on megacap tech earnings optimism, yet a hawkish BoJ hold and hot Australian CPI figures—hitting 4.1% YoY—are keeping the terminal rate debate alive. While China’s indices are outperforming on AI-led momentum and state support, the “risk-off” mood in Australia highlights a persistent inflation drag. Geopolitical risk premiums are surging again; reports of a planned US naval blockade of the Strait of Hormuz have pinned Brent crude near $112, keeping energy-driven inflation fears front and center for central banks.

In the FX space, the Greenback is firming, exerting heavy pressure on the AUD, NZD, and EUR as London liquidity builds. European desks will pivot to preliminary CPI prints from Spain and Germany today, which serve as the primary trend-setters ahead of the Federal Reserve’s policy decision tonight. With cash Treasury trading resuming in London following the Japan holiday, expect fixed-income volatility to dictate the equity pace. Keep a close eye on the US-China friction regarding secondary sanctions; any escalation here will quickly sour the current AI-driven bid in Asian tech.

👉🏻 Upcoming key releases: US Durable Goods Orders (29 Apr, 15: 30 GMT+3), BoC Interest Rate Decision (29 Apr, 16: 45 GMT+3), Fed Interest Rate Decision (29 Apr, 21: 00 GMT+3).

— Tolga’s Market Radar
(📢 This content is not financial advice.)
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