--- title: Market Wrap – From 14th to 20th April 2026 description: Weekly market wrap for 14–20 April 2026, highlighting how Middle East deescalation, falling oil and gas prices, a softer dollar and record high equities reshaped FX, commodities and global risk sentiment. image: https://learn.atcbrokers.com/hubfs/14th%20to%2020th%20APRIL%202026.jpg --- [![ATC Logo 1-3](https://learn.atcbrokers.com/hubfs/ATC%20Logo%201-3.png)](https://atcbrokers.com/) ![menu](https://f.hubspotusercontent40.net/hubfs/7479797/menu.png) ![close_24px](https://7479797.fs1.hubspotusercontent-na1.net/hubfs/7479797/close_24px.svg) [Market insights](https://learn.atcbrokers.com/weekly-market-wrap/tag/market-insights) # Market Wrap – From 14th to 20th April 2026 [![ATC Brokers](https://learn.atcbrokers.com/hs-fs/hubfs/Asset%201@2x.png?width=50&height=50&name=Asset%201@2x.png)](https://learn.atcbrokers.com/weekly-market-wrap/author/atc-broker) [ATC Brokers](https://learn.atcbrokers.com/weekly-market-wrap/author/atc-broker) 21 April, 2026 ![](https://learn.atcbrokers.com/hubfs/14th%20to%2020th%20APRIL%202026.jpg) The past week was all about the market pivoting from energy-shock fears to relief on Middle East deescalation, with falling oil, softer inflation expectations and record high equities driving cross asset price action.   ## What Drove the Markets  - Iran announced that the Strait of Hormuz would remain fully open to commercial traffic, and President Trump publicly confirmed the decision, triggering a sharp improvement in risk sentiment.  - Energy prices reversed hard: Brent crude slid towards the $90 area and European TTF gas dropped back below EUR 40/MWh as traders priced out the worst-case supply shock.  - With the energy squeeze easing, inflation worries cooled and markets brought forward the timing of Fed easing while trimming expectations for a second ECB rate hike in 2026. - US data (cooler than feared producer prices and solid tech earnings) further underpinned the “Goldilocks” narrative of resilient growth plus peaking price pressures, boosting cyclicals and high beta tech.  ## FX Market Reactions  The dollar lost some of its recent geopolitical risk premium as oil fell and US yields edged lower, but broad FX moves were relatively contained rather than trending.  Safe haven FX outperformed on the crosses, both the Japanese yen and Swiss franc picked up as lower yields and reduced energy stress made carry trades slightly less compelling at the margin.  Analysts highlighted that the drop in crude back below $100 per barrel helped lift global equities back towards record highs and relieved pressure on energy importing currencies, supporting a modest recovery in selected EM and high beta FX.    ## Commodities Market Reactions  Crude oil saw a decisive mean reversion move lower: month to date, prices have shed close to 10% from the March spike as ceasefire progress and guaranteed safe passage through Hormuz removed a large part of the supply risk premium.  European natural gas followed suit, with benchmark TTF futures settling below EUR 40/MWh, a level more consistent with “tight but manageable” rather than crisis pricing.  The easing in energy costs took some shine off the inflation hedge bid in precious metals: gold, which had ripped higher alongside the original oil spike, spent the week consolidating after its rebound and trading more in line with real yield moves than with outright fear.  Industrial metals, led by copper, stayed firm to higher on a mix of supply constraints and renewed optimism on AI and electrification driven demand, reinforcing the idea that the commodity complex has split between energy downshift and structural metals strength.    ## Indices Market Reactions  Equities were the main beneficiaries of the improved backdrop. Risk sentiment improved sharply on Friday, with global stocks rallying as the Hormuz headlines crossed.  US indices pushed to fresh highs: CaixaBank notes that the S&P 500 and Nasdaq both printed new record closes for the fifth straight session, underlining how quickly the market has moved from “shock” back to “buy the dip”.  Sector wise, technology continued to lead: the Philadelphia Semiconductor Index hit another all-time high and is up more than 15% over the past month, while Energy lagged badly, down around 9% month to date as oil rolled over.  European and other developed market bourses tracked the US higher, helped by lower yields, softer ECB hike pricing and the prospect that the external energy tax on their economies may be smaller than feared a few weeks ago.    ## **Get ready for the week ahead   **  Visit our market calendar to see all the key economic data, earnings, and events that could move the markets. Plan your trades before the action starts.                       [Explore our market calendar](https://atcbrokers.com/en/learn/economic-calendar/)   Trading forex and futures is high-risk and may result in total loss. Use risk capital only and assess your experience before trading with ATC Brokers. While ATC Brokers Limited takes reasonable care to ensure the information provided is reliable, no warranty is given as to its accuracy or completeness, and no liability is accepted for any errors or omissions. Previous Post ###### [Market Wrap – From 07th to 13th April 2026](https://learn.atcbrokers.com/weekly-market-wrap/market-wrap-from-07th-to-13th-april-2026) Next Post ###### [Market Wrap – From 21st to 27th April 2026](https://learn.atcbrokers.com/weekly-market-wrap/market-wrap-from-21st-to-27th-april-2026) ### Similar Blog Posts [![](https://learn.atcbrokers.com/hs-fs/hubfs/ATC%20Blog%20banner%20(1750%20x%20875%20px)%20(3).jpg?width=352&name=ATC%20Blog%20banner%20(1750%20x%20875%20px)%20(3).jpg)](https://learn.atcbrokers.com/weekly-market-wrap/30-september-06-october-2025) #### [Key insights from 30th September to 06 October 2025](https://learn.atcbrokers.com/weekly-market-wrap/30-september-06-october-2025) [![](https://learn.atcbrokers.com/hs-fs/hubfs/31st%20MARCH%20to%2006th%20APRIL%202026.jpg?width=352&name=31st%20MARCH%20to%2006th%20APRIL%202026.jpg)](https://learn.atcbrokers.com/weekly-market-wrap/market-wrap-from-31st-march-to-06th-april-2026) #### [Market Wrap – From 31st March to 06th April 2026](https://learn.atcbrokers.com/weekly-market-wrap/market-wrap-from-31st-march-to-06th-april-2026) [![](https://learn.atcbrokers.com/hs-fs/hubfs/20th%20to%2026th%20January%202026.jpg?width=352&name=20th%20to%2026th%20January%202026.jpg)](https://learn.atcbrokers.com/weekly-market-wrap/market-wrap-20th-to-26th-january-2026) #### [Market Wrap 20th to 26th January 2026](https://learn.atcbrokers.com/weekly-market-wrap/market-wrap-20th-to-26th-january-2026) [![Screenshot 2024-11-21 at 14.22.36](https://learn.atcbrokers.com/hubfs/Screenshot%202024-11-21%20at%2014.22.36.png)](https://www.hubspot.com/) At ATC Brokers, we believe that anyone can trade if they access the right education and support. 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