News for The Week
US stock markets started falling, while the US dollar is rising. What to expect from
Oil Market Rises while Crypto Is In Darger
Happy Tuesday, dear traders. Let's check the freshest news, moving the markets today!
- Analysts believe oil prices are rising due to elevated interest rates and insufficient investment in the industry, which negatively affect the market.
- Santiment noted one of the largest transfers of ETH to the Coinbase exchange this year — a massive bearish middle-term signal.
- Goldman lowered its estimate of the likelihood of a US recession to 15% from 20%.
- The Reserve Bank of Australia kept the rate at 4.10%. The RBA stated further tightening of monetary policy may be necessary as everything will depend on incoming data.
- Bloomberg says Xi's inexplicable refusal to participate in the G-20 undermines his image as a world statesman. This step becomes another confirmation for investors - China is increasingly unpredictable.
- Robinhood will buy back its shares for $605 million. The stock is up 5.5% this week.
EURUSD outlook
EURUSD has lost its global support. It is a massive signal for the overall trend reversal. Currently, the closest target for the price is the 1.0640 - 1.0670 support range. However, before the decline the price may retest the breakout moving to the 1.0775 - 1.0805 resistance range. If this happens, it will be a massive opportunity to gain sell positions.
Have a great day!
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