Euro slumps to 20-year low on growing recession fears
The Euro collapsed through key support zone on Tuesday and hit the lowest in almost two decades, in the biggest daily fall since Jun 16, 2021.
Fresh weakness was sparked by renewed risk aversion on rising gas prices that fueled fears of…
Read More...
Read More...
Bears are taking a breather after strong rejection at 1.20 zone on Friday
Cable is trading around 1.21 handle, moving in a narrow range on expected lower volumes due to US Independence Day holiday.
Friday’s daily candle with long tail signals that bears are lacking strength for a final attack at 2022 low…
Read More...
Read More...
Double rejection keeps the downside protected but recovery faces tough work at the upside to…
The Euro is holding in a tight range on Monday, following initial bullish signal on double downside rejection last Thu/Fri, on expected headwinds at key 1.0360/40 support zone.
Mixed daily studies (14-d momentum is attempting to break into…
Read More...
Read More...
Aussie bounces from new two-year low but upticks seen limited; RBA in focus
The AUDUSD edges higher in early Monday after 1.2% drop on Friday, when the pair broke below previous low at 0.6828 (May 12) and hit new two-year low at 0.6815.
Friday’s close below 0.6828 low was a bearish signal, though bears face…
Read More...
Read More...
Silver drops below $20 for the first time in two years as recession fears hurt demand
Spot silver broke through psychological $20 support for the first time in two years and hit the lowest since July 2020 on Friday.
The metal remains under increased pressure for three months on global economic and geopolitical turmoil which…
Read More...
Read More...
Gold dips below $1800, on track for the third consecutive weekly drop
Spot gold price fell below $1800 level on Friday, on fresh bearish acceleration that extends into fifth straight day.
The yellow metal came under pressure from higher dollar, as well as prospects of higher interest rates in the US and…
Read More...
Read More...
Eurozone inflation hits new record high in June
Eurozone inflation soared to new record high at 8.6% in June from 8.1% in May and beat forecast for 8.4%, mainly driven by higher energy prices, though contribution from rising prices of food and services was also significant.
So called…
Read More...
Read More...
WTI remains in red on recession fears, OPEC disappointment
WTI oil remains in red on Friday, pressured by growing fears of recession that continues to sour the sentiment, while comments from OPEC that the cartel is not going to increase more its production and will stick to its planned output…
Read More...
Read More...
Dollar takes a breather after hitting new 24-year high vs yen
The USDJPY eases from new highest (137.00) since 1998, posted on Wednesday, as dollar loses traction on concerns that economic growth slowdown and possible recession may shorten Fed’s tightening cycle, that signaled traders to take profits.…
Read More...
Read More...
Bears regained control and eye key supports
The Euro extends steep fall against the dollar into third straight day on Thursday, following a 1.3% drop in past two days, with probe through 1.0419 (Fibo 76.4% of 1.0358/1.0614 upleg) adding to signals that the corrective phase is over.…
Read More...
Read More...