Euro Looking Increasingly Vulnerable, Overall Sentiment to Stabilize after Wild Rides
Extreme volatility was seen in the markets last week, in particular in the across the broad rout in cryptocurrencies. Stocks the tumbled sharp but stage a late come back. Gold and silver resumed recent decline. Yen ended as the best...
Weekly Economic & Financial Commentary: Will Tighter Financial Conditions Lead to a More Dovish Fed?
Summary United States: Don’t Look Down Yet Consumer price inflation may have peaked, but the climb down from here will not be free of obstacles. The CPI and PPI rose 0.3% and 0.5%, respectively, in April. Small business optimism stalled...
AUDJPY Rebounds Off Cloud’s Floor, Downside Risks Linger
AUDJPY has corrected to the 88.00 handle, which is the 50.0% Fibonacci retracement of the 12-week rally from 80.35 until the 95.73 peak. Despite the price failing to snowball below the support barrier formed by the 50.0% Fibo at 88.00...
Gold Extends Decline While EUR/USD Holding on to 2017 Low
Overall, the forex markets are rather quiet as the week is heading to a close. EUR/USD is still holding above 2017 low but lacks any strength for a recovery. The greenback might still have a last push during the rest...
Euro Under Pressure, Falls Below 1.04
The euro has stabilized on Friday, after a dreadful Thursday in which EUR/USD fell 1.26%. Russian announces sanctions The euro continues to struggle and is trading at lows last seen in January 2017. The Ukraine war has taken a bite...
EUR/USD Bears May Accelerate on Break of 2017 Kow
The Euro is consolidating within a tight range on Friday after a 1.3% drop previous day, as oversold daily studies warn of price adjustment, which is likely to be limited as overall bearish bias is intact. The pair is on...
Dollar and Yen Consolidate as Sentiment Stabilized
Overall market sentiment stabilize in Asia today, with Nikkei leading other major indexes higher. Bitcoin is trading back above 20k, arguing that the climax of the crypto rout is over. In the currency markets, both Dollar and Yen are paring...
AUD/USD: Aussie Posts New Multi-Month Low on Dominating Risk-off Mode
Risk aversion on growing concerns about inflation and slowdown of global growth continues to drive the Aussie dollar lower, after recovery attempts on Wednesday were strongly rejected above 0.70 level, now reverted to strong resistance. Fresh weakness hit the lowest...
The Crypto Market’s House of Cards
Bitcoin collapsed 8.4% on Wednesday, ending the day at around $28.4K. Thursday’s fall continued, sending the first cryptocurrency down 5% to $27K. Ethereum is down 24% in the last 24 hours, having rolled back to $1815. Other leading altcoins in...
Yen Rebounding Further on Risk Aversion and Falling Yields
With the help from risk aversion and extended pull back in benchmark global treasury yields, Yen’s rebound is making some progress. US 10-year yield is back below 2.9% handle in Asian session while Germany 10-year bund yield also broke 1%...