American Market Recap: ECB Schnabel: Some damage from Iran War will be hard to reverse

Thursday, 07 May, 2026 Central Banks ECB Schnabel: Some damage from Iran War will be hard to reverse ECBs Schanabel is speaking and says: My view is that some damage done from Iran war will be hard to reverse There seems to be a disconnect between the stock market and the global situation. Earlier, S News WSJ: Saudi Arabia and Kuwait lift restrictions on US military use of bases. The Wall Street Journal is reporting Saudi Arabia and Kuwait lifted restrictions on U.S. military use of bases and airspace tied to operations around the Strait of Hormuz. The move clears a key obstac Learn more Central Banks Fed' Daly: Committed to bringing inflation back to Fed's 2% target San Francisco Fed Pres. Mary Daly his is speaking and says: Committed to bring inflation back to Fed's 2% target. Monetary policy is slightly restrictive, and would put downward pressure on inflation Technical Analysis EURUSD/GBPUSD move off highs. Oil retracing declines. Yields now higher. Both the EURUSD and GBPUSD are giving back earlier gains as broader market sentiment turns more cautious. The EURUSD is still modestly higher on the day by 0.08%, while the GBPUSD has slipped back to Commodities Crude oil moving off of low levels and back toward the next target at the $95 area The price of crude oil is rebounding off session lows near $89.85 after finding support above yesterday’s low around $88.70. That defense of the prior day’s low helped stabilize the market and sparked News Iran can outlast Trump's Hormuz blockade for months As the markets await response from Iran regarding the US 14 point proposal, the Washington host is reporting that US intelligence in a report says that Iran can outlast Trump's Hormuz blockade for mon Technical Analysis AUDUSD buyers remain in control technically but resistance at 2022 swing area looms The AUDUSD broke sharply higher yesterday, extending above the April and May swing highs between 0.7221 and 0.7227 — a bullish technical breakout that shifted momentum further in favor of the buyers. Central Banks NY Fed Survey of consumer expectations:1Y inflation higher @ 3.6% vs 3.4%. 5Y steady at 3% April one-year-ahead expected inflation: 3.6% versus March’s 3.4% April three-year-ahead expected inflation: Unchanged at 3.1% April five-year-ahead expected inflation: Unchanged at 3.0% April year-ah Learn more Stock market update Tech stocks soar while energy stumbles: Today's market analysis Sector Overview The US stock market today presents a compelling dichotomy with technology stocks surging, while the energy sector grapples with significant declines. The heatmap reveals that the tech

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