EUR/USD is trading at 1.0846, 0.16% down since previous day close. EUR could edge higher, but lacks momentum to break above 1.0900, according to UOB Group’s FX analysts Quek Ser Leang and Peter Chia. The recovery from a sharp drop has gathered momentum, but it doesn’t have enough momentum to break above 1.0900. a breach of 1.0835 would indicate mild upward pressure has eased. The weakness in EUR that started early this month remains intact, and a breach of 1.0900 would indicate the start of a range trading phase.

GER30 index is trading near 19647, 0.64% down since previous day close. J.P. Morgan predicts that earnings season is heating up, with nearly 60% of the S&P 500’s market cap and 50% of European companies reporting earnings. However, the bank warns that the low expectations may not trigger a positive share price reaction, especially given markets are near highs and positioning is elevated. The global composite PMI lost steam in Q3. As shown, GER30, if breaks 19458, could go till 19400 and lower.

WTI is trading at 70.67, 1.97% UP since previous day close. WTI oil prices edge higher after a 7% decline, but downside may be limited as China’s rate cuts could stimulate domestic economic activity, potentially increasing oil demand. US President Joe Biden believes there is an opportunity to end the conflict between Israel and Iran, while Shell and Singapore’s Maritime and Port Authority implement clean-up measures following a pipeline leak.