S&P 500 at new 2019 highs, mixed sessions in Asia and Europe

Summary:
- S&P 500 at new YTD highs
- USD and JPY outperform G10 peers, Scandinavian currencies lag
- Top 3 charts of the week
- Oil prices declines on Saudi report but pullback is short lived
- Wirecard dips on the first day after short selling ban ends

Although Monday was a holiday in many European countries, US markets worked as usual. Crude prices soared during the first trading day this week after US President Donald Trump communicated that the country would end exemptions from sanctions for countries still purchasing Iranian oil.

Significant losses seen in Wirecard shares are coming in the first day after a short ban ended. Note that the stock was falling over 8% this morning, shortly after the open.

Both Brent and WTI took a dive lower in the early afternoon following Bloomberg report. The news agency said that Saudi Arabia is ready to boost oil output in case Iranian exports collapse.

The Aussie dollar has lost some of its momentum recently due to a series of dovish messages sent by the RBA. However, we think that expectations with regard to a rate cut look ovestated. According to Goldman Sachs better risk sentiment could lead to increased demand for the Aussie dollar.

To make the picture even more rosy the company decided to make an upward revision to its full-year guidance. Prior to the release market consensus pointed to full-year EPS of $19.60 but Lockheed Martin said that earnings will be at least $20.05. The company said that its order backlog inflated by $3 billion in the January-March period.