The macro backdrop will take center stage this week, with several key events likely to shape overall market direction.
• The Federal Reserve meets Wednesday, and while a rate hold is widely expected, the focus will be on tone. With inflation still running firm, any shift in language around policy direction or timing could move markets.
Market Movement from 20th Apr 2026 to 25th Apr 2026.
• After several consecutive weeks of upward momentum, the market rally has paused, with this week closing slightly in the red, nearly unchanged overall. The front-month contract has now shifted to July, and NY July futures ended the week with a loss of 46 points on a week-on-week basis.
The situation around the Strait of Hormuz is front and center to start the week, with energy markets and equities expected to stay sensitive to any new developments.
• Crude oil will be the market’s focal point, with direction continuing to follow headline flow out of the Middle East. After last week’s sharp break, price action is likely to stay choppy as sentiment adjusts.
Market Movement from 13th Apr 2026 to 18th Apr 2026.
• NY futures posted an extraordinary gain this week, driven by a strong technical outlook and active shifting into the next contract month. This transition triggered heavy buying interest, with May futures rising sharply by 418 points and July futures gaining 449 points. July has now emerged as the lead month in the market.