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…
Market movers today Focus remains on the war in Ukraine and whether US and Europe will impose an oil and gas embargo on Russia. The EU Commission will lay out its strategy on how to Read more…
Daily Pivots: (S1) 1.0795; (P) 1.0864; (R1) 1.0921; More… Intraday bias in EUR/USD is turned neutral with a temporary low formed at 1.0805. Some consolidations could be seen, but upside should be limited by 1.1120 Read more…
Daily Pivots: (S1) 1.3054; (P) 1.3152; (R1) 1.3201; More… Intraday bias in GBP/USD remains on the downside at this point. Current down trend from 1.4248 is still in progress. Firm break of 61.8% projection of Read more…