Market Update

The USD/JPY continues sliding for the third straight day, though the downtrend capped at April’s 27 daily low at 126.94, keeping the major’s uptrend intact amidst a downbeat market mood on the last trading day of the week, as the Wall Street close looms. At 127.82, the USD/JPY records minimal …

Any sudden interruption in Russian gas supplies to the EU member states could push the Eurozone into recession, Fitch Ratings states that exposures are “so large that an immediate and total cessation of Russian natural gas supplies would result in gas shortages and rationing, causing a major macroeconomic shock”.The European …

Friday’s drop is conceived of as a bad omen for the economy as a whole. Only one bear market in the last 50 years, the market crash of 1987, was not accompanied by a recession. For the majority of the bull market since the March 2020 low, investors have had …

The Swiss franc gained more than 2.50% vs. the greenback. A dampened market mood and a strong US dollar capped the USD/CHF nosedive in the week. USD/CHF Price Forecast: Although the major held a massive loss in the week, it remains upward biased unless USD/CHF bears push the pair below …

The idea of an EU tariff on oil imports from Russia comes from the United States, which is considering proposing that European countries impose a tariff instead of an embargo, to allay concerns about the security of supply and surging oil prices. The EU could combine tariffs and embargoes, US …

The AUD/USD pair is up throughout the week by 1.34%, despite falling on Friday. Market sentiment fluctuates negatively in the last hour, dragging the AUD/USD lower. The Australian dollar is struggling at the 20-day moving average (DMA) and is losing the battle as the AUD/USD looks forward to resuming the …

The Reserve Bank of New Zealand will have its monetary policy meeting next week. According to analysts at Wells Fargo, high inflation and a hawkish central bank outlook sets the scene for another 50 bps hike in May to 2.00%. They expect the rate to end the year at 3.00%. …

Eurozone Consumer Confidence Index unexpectedly rose from -22.0 in April to -21.1 in May, according to the latest data release from the European Commission. That was slightly better than the small expected rise to -21.5, but still left the index close to multi-year lows, as EU consumers struggle amid surging …

Britain’s retail sales unexpectedly rose 1.4% m/m after falling 1.2% in March, and sales in the three months to April fell 0.3% after a 0.7% drop in March. Britain’s consumer confidence index fell to its lowest level since the survey began in 1974, as this data comes as inflation in …

The US dollar is headed for its worst week since early February against major currencies on Friday, losing some of the momentum it gained from a sudden 10 percent rise in its value. The dollar received a boost from investors’ appetite for it as a safe haven amid turmoil in …