2022-12-29 • Updated
Last week, Pierre-Olivier Gourinchas, the IMF's chief economist, commented on the IMF's global economic outlook, stating clearly that the worst was yet to come. For many people, he opined that the year 2023 would feel like a recession.
The IMF has also warned of an irregular repricing in markets which has led to the conclusive increase in global financial stability risks, which may spread and spill over into other markets due to the combined pressures from food crises, war-driven energy costs (scarcity), inflation, and higher interest rates, thus, driving the world closer to a global recession.
As of 13th October 2022, world stocks dipped nearly below the 2-year low, with the Japanese yen slipping even lower to the 1998 lows. OPEC has decided to cut down on oil production, which could raise oil prices to new highs, hastening a possible global recession.
In times like these, more investors and commercial banks will be leaning towards safe-haven commodities in hopes of capital preservation rather than growth. Thus, there could be more bullish movements on assets like XAUUSD and OIL.
All eyes are on XAUUSD for a possible breakout and retest of the descending channel which should signal the start of a bullish rally.
During the Asian session on Wednesday, the USD/CAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to...
The Australian Dollar (AUD) rebounds on Monday, despite a slight dip in the US Dollar (USD) and higher US Treasury yields. Investors are eyeing Australian monthly Consumer Price Index (CPI) data for February and US Gross Domestic Product (GDP) for Q4 2023. The AUD gains momentum as the ASX 200 Index rises, especially in mining and energy sectors. Additionally, the Aussie...
Gold prices rose on Monday as the US Dollar weakened amidst speculation about potential Federal Reserve rate cuts starting in June. This weakened Dollar was partly due to improved risk sentiment pushing US Treasury yields lower. Despite facing challenges from declining yields, gold prices recovered to nearly $2,170 per troy ounce, driven by the Dollar's weakness. Federal Reserve Chair...
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
|
