Oil Experiences an 11% Weekly Loss

Oil Experiences an 11% Weekly Loss

Good Friday, wonderful people! Let’s look at the main headlines that are moving the markets today.

Today’s events:

US PPI and Core PPI - 15:30 GMT+2

Prelim UoM Consumer Sentiment - 17:00 GMT+2

The euro is under pressure

According to the RTRS survey, there is an 80% possibility of a recession in Europe. Also, economists anticipate a rate hike from 0.5% to 2% during the next ECB meeting. This decision was already priced into the market, and EURUSD tested the 1.0580 level on the H4 chart. Now, we can expect the retest of the ascending trendline and the support at 1.0450. 

EURUSDH4.png

Other important news:

  • Credit Suisse forecasts further strengthening of the Swiss franc amid rising recession fears in Europe.
  • GameStop (GME) rose 10% yesterday, despite the significant losses in the third quarter of 2022.
  • The prices of Brent and WTI have lost over 10% over a week amid global uncertainties.
  • Tesla’s stock, which has lost more than $500 billion in market value this year, is under renewed pressure. Elon Musk may use his Tesla shares as collateral for new loans to replace Twitter debt.
  • Economists expect the Australian economy to stall in the second half of 2023. GDP has been standing still for the last two years. Moreover, today Australian crypto exchange collapsed and suspended 30 000 accounts.

Take advantage of the market and good luck!

TRADE NOW

Similar

Earnings Season is In Focus
Earnings Season is In Focus

Several largest American companies will publish their financial results this week. BTCUSD and XAUUSD are skyrocketing. What's going on in the markets?

Can XAUUSD Move Higher?
Can XAUUSD Move Higher?

The dollar's status as the world's reserve currency could only be recovered if the US controls its spending. The huge budget deficit and rising interest rates on the US national debt should scare every American, analysts say. Read the full report to learn more!

Latest news

The Yen Sets New Lows
The Yen Sets New Lows

The Japanese yen fell to its lowest level against the US dollar in 33 years. Read the full report to learn the next target for USDJPY!

BlackRock CEO Supports The USD
BlackRock CEO Supports The USD

BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today. Read the full report to get more fresh news and technical analysis!

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

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!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera