The S&P 500 extended losses as investors are wary of a global economic downturn. On the daily chart, a brief rebound has met stiff selling pressure on the 30-day moving average (4410). In fact, this Read more…
The euro recoups losses as shorts cover ahead of the ECB meeting. The pair’s fall below the major floor (0.8280) on the daily chart further weighs on sentiment. The lack of support suggests that traders’ Read more…
The US dollar bounces back as traders pile into safer currencies at the expense of commodity assets. The previous rally above the supply zone at 1.2800 has prompted sellers to cover. Then a follow-up pullback Read more…
Commodities surge across the board, heightening fears about a global recession Crude oil hits $130 a barrel, gold soars past $2,000/oz, but dollar slightly softer today Selloff in euro and equities takes a breather for Read more…
The US 500 cash index has recorded heavy losses over the last few trading sessions as negative pressures linger. Moreover, the 50-day simple moving average (SMA) is looking ready to cross below the 200-day SMA, Read more…
Crude oil prices surged to the highest level in more than a decade. Brent, the international benchmark, rose to more than $123 while Western Texas Intermediate (WTI) rose to $120. These are significant levels considering Read more…
BoJ Governor Haruhiko Kuroda told the parliament today that inflation expectations and wages growth in Japan are still low. Even if inflation exceeds the 2% target, “it’s inappropriate to deal with by scaling back stimulus Read more…
EUR/USD The single European currency continues to lose ground against the dollar. The support at 1.0800 has so far managed to hold off the bearish pressure, but the overall market mood remains negative. In case Read more…
Markets Same story, different day. Only this time, US risky assets underperformed compared to European peers. Wall Street opened lower and slid further throughout the session. Stocks finished 2.37% (DJI) to 3.62% (Nasdaq) lower. The Read more…
A clean sweep for the U.S dollar overnight as it rose against all G10 currencies to propel the DXY index to its first daily close above 99 since May 2020, aided by risk aversion and Read more…