WTI oil price falls 6% on recession and demand fears
WTI oil price was sharply down on Tuesday, losing over 6% until early US session hours, under increased pressure from strong dollar, growing fears of recession and fresh Covid restriction in a number of Chinese cities that raises concerns…
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German investor morale falls sharply in July
German ZEW economic sentiment index fell sharply in July to -53.8 points (the lowest since January 2012 and also slightly below March 2020 spike, when the economy slowed significantly due to pandemic lockdown) from -28 in June and strongly…
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Euro touches parity for the first time in two decades but so far without break lower
The Euro is wobbling at parity level, but so far without clear break lower.
The sentiment remains very negative and was additionally hit by terrible German ZEW data which showed investor morale collapsed in July.
Traders also focus on…
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Pound extends weakness, pandemic low comes in focus
Cable hit new lowest since March 2020, in extension of Monday’s 1% drop, with close well below 1.20 handle and former lows at 1.1958/30 (Sep 2019 / Oct 2016 lows respectively) and fresh extension lower on Tuesday, signaling that bears…
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Dollar is on track for further advance, consolidation likely to precede rally
The USDJPY is consolidating under new highest level since Sep 1998 (137.75) in early Tuesday’s trading, following Monday’s bullish signal on 2.6% advance (the biggest one-day advance since June 17) and close above previous top at 137.00.…
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Aussie hits new 2-year low on fresh risk aversion
Australian dollar accelerated lower on Monday, driven by fresh risk aversion that inflated its US counterpart.
The Aussie hit new two-year low and generate strong bearish signal on break through important Fibo support at 0.6758 (50%…
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Gold price comes under fresh pressure on rising dollar, expectations of aggressive Fed
Bears are returning to play after two-day pause (Thu/Fri double Doji) as dollar rose on Monday, lifted by strong US jobs data and expectations for another Fed’s robust rate hike.
Large bearish candle of last week (the biggest weekly loss…
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Oil price dips on renewed demand worries
WTI oil price eases on Monday, after last Thu/Fri strong recovery stalled on attempts through daily Tenkan-sen (104.55).
Oil came under pressure on renewed demand concerns after China had discovered first cases of Omicron variant and…
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Dollar remains supported by hawkish Fed and global growth fears
Bulls return to play on Monday after a brief consolidation on Thu/Fri and eye new 20-year high at 107.60, as dollar remains well supported by global growth concerns, weak Euro and strong signals that the Fed will remain on strong hawkish…
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Bears keep control but may delay final push towards parity on oversold studies
The Euro remains in red at the start of the week after 2.2% drop last week and pressures new 2022 low (1.0071), also near Fibo 76.4% of 0.8225/1.6039 (1.0069), where bears faced headwinds on Friday.
Oversold conditions on daily chart and…
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