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NAGA Weekly Recap May 4 - 8, 2026

Risk-on is back! See how a cooling US dollar sparked a rally across stocks and crypto, while Gold eyes $5k and the BoJ flushes JPY. Get the setups on NAGA.

Updated May 8, 2026

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Gladys Eguia

Gladys Eguia

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Risk-on is officially back on the menu. A cooling US dollar acted as a major tailwind this week, giving most asset classes the room they needed to run. With geopolitical headlines finally taking a backseat, buyers took control—leaving equities, metals, and crypto to catch a solid bid.

Oil took a slight breather but is holding key levels, while gold capitalized on the dollar drop to stack steady gains. Over in FX, the real wildcard was the BoJ finally stepping in to defend the yen, triggering a sharp flush across most JPY pairs. Bottom line: risk appetite has returned, sentiment is improving, and the overall market structure is offering plenty of clean setups.

It is important to remember to assess your financial situation and risk tolerance, before engaging in copy trading. Past performance and forecast are not reliable indicators of future results.
 

Weaker Dollar and Easing Risks Support Markets

Global markets moved higher as a weaker US dollar boosted risk sentiment across asset classes. Easing geopolitical tensions added support, helping equities, metals, and crypto gain ground. Oil prices moved lower but remained stable, reflecting balanced supply expectations. Meanwhile, the Bank of Japan supported the yen, adding volatility to FX markets.

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Equities Advance on Broad Risk-On Sentiment

Stock markets pushed higher as dollar weakness and easing geopolitical risks improved investor confidence. Gains were broad-based, with strong participation across sectors. The supportive macro backdrop continues to favor equities, as investors rotate into risk assets. The positive sentiment also spilled toward the crypto market, where Bitcoin was able to rise, breaking the recent technical resistance level and supporting the positive sentiment.

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Gold Rises While Oil Holds Steady

Gold moved higher this week, supported by a weaker US dollar and increased demand for alternative assets. The $5,000 level is coming closer. In contrast, oil prices declined but remained stable as geopolitical tensions eased. Prices dipped below the USD 100 level. Commodity markets reflected a balanced environment with selective upside.

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Yen Strengthens After BoJ Intervention

Currency markets were driven by dollar weakness and yen strength. The Bank of Japan stepped in to support the yen, pushing most JPY pairs lower. Traders should pay attention to recent support levels, as they might break if the central bank continues with its actions. The weaker dollar also supported global risk sentiment, reinforcing the broader shift toward risk-on positioning.

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*Trading involves significant risk of loss.

IMPORTANT NOTICE: Any news, opinions, research, analyses, prices or other information contained in this article are provided as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and therefore, it is not subject to any prohibition on dealing ahead of dissemination. Past performance is not an indication of possible future performance. Any action you take upon the information in this article is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of this article.

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