Oil price collapses to the lowest since 2003
WTI oil collapsed below week-long range floor and hit new lowest since 2003 as markets continue panic selling on fears of global recession on corona virus pandemic that already slashed demand.
Big oil producers entered price war and…
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Cable cracks critical 1.20 support zone
Cable remains in steep downtrend that extends into seventh straight day and pressures critical 1.20 support zone (lows of 2016/19).
Sentiment remains very negative, as traders remain out of riskier assets, with measures that governments…
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Oil prices in sideways near-term mode but bias remains with bears
WTI oil price ranged between $28.69 and $30.58 levels but keeping negative tone on growing fears of devastating impact on global oil demand from corona virus outbreak that prompted the shutdown of vast areas in the global economy
Adding to…
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Euro collapses on Tuesday, on track for the biggest daily fall since June 2018
The Euro collapsed on Tuesday, registering daily loss of 2% until now, being under strong pressure from downbeat German data and rising demand for safe-haven dollar.
Today’s bearish acceleration took out several important supports,…
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Turkish lira falls to new 16-month low vs dollar after CBRT 1% rate cut
The Turkish lira continues to weaken and hit new lowest since Sep 2018 on Tuesday as rising demand for safe-haven greenback offsets the action of Turkish central bank.
The CBRT cut interest rates today by 1%, bringing rate to single digit…
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Aussie trades below 0.60 level for the first time since 2003
The Aussie dollar extended weakness on Tuesday and cracked psychological 0.60 support, hitting the lowest levels in 17 years.
Rising demand for safe-haven greenback and China’s economy being badly hit by corona virus outbreak are the key…
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Cable collapses despite upbeat UK labor data
Cable fell to 6 ½ month low on Tuesday after UK labor data showed significant rise in new jobs, fall in jobless claims and increase in average earnings, but were soured by unemployment increase.
The sentiment remains weak on negative…
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Fresh weakness signals an end of recovery; weak German ZEW data would add to negative tone
The Euro is holding in red in early Tuesday’s trading as dollar regained traction after aggressive Fed’s action was followed by other main central banks.
Monday’s long-legged Doji showed indecision, with recovery attempts being rejected…
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Oil price falls to one-week low after Fed failed to restore confidence
WTI oil price fell today to the lowest since last Monday’s crash, surging through round-figure supports at $30 and $29.
The oil was sold after Fed’s aggressive steps overnight failed to calm investors, with continuing price war between…
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Dow returns to red after Fed action failed to calm markets
The Dow Jones opened lower and hit limit down on Monday, erasing last Friday’s recovery as investors continue to sell after Fed measures failed to restore confidence.
With all sectors being down, sentiment remains weak and risk…
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