DAVY VIEW

Brent crude oil prices rose to $74.5 per barrel yesterday (April 22nd) after the Trump administration announced sanctions on Iranian oil. US GDP data are the key release this week, expected to show a resilient 2.2% gain, reassuring investors who are concerned about the health of the global economy. ECB Board member Benoit Coeure has poured cold water on the prospect of tiering on the ECB’s negative deposit rate to curb the impact on banks’ profits.