Weaker-than-anticipated US economic numbers fuel recession fears, pushing up the Swiss Franc, which hurt the USD/CHF pair.The USD/CHF pair is technically unaligned and waiting for a new catalyst to provide clear market direction. Expectations of a hawkish Swiss National Bank may act as a stimulus for more USD/CHF decline amid …
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The GBP/USD pair hovers above the 1.2400 mark after the last week’s USD boost from stronger-than-expected jobs data. The US economic indicators reveal a mixed story, with weakening factory orders and a fall in Non-Manufacturing PMI. UK outpaces expectations with S&P Global Services and Composite PMIs, adding pressure on the …
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Oil prices rose on Friday amid a recovery in sentiment as a result of the passage of the US debt ceiling bill and at a time when markets assessed the possibility of OPEC + implementing a production cut to support prices in the next two days. Brent crude futures rose …
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After consolidating above $69.00 earlier on Wednesday, oil price is trading a little below at $68.92 at the time of writing ahead of oil inventory data by the US API amid strong US consumer spending and soft labour market conditions that support chances of one more rate hike by the …
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The EUR/USD pair hits a two-month low amid US debt-ceiling concerns as well as positive US economic data though Fitch places US “AAA” debt rating on negative watch despite lower unemployment claims and a rise in Q1 GDP. Germany’s Q1 GDP plunge puts additional pressure on the Euro, with central …
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US Treasury Secretary Janet Yellen said there was still uncertainty about when the cash needed to repay the government’s debt would run out, but she would keep Congress informed of any change in the date, which could be around June 1. Yellen told Bloomberg Television that she will meet with …
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Leading investment firms are shorting US stocks as the global recession-linked fears become more and more severe. The approach is focused on shorting US stocks worth billions of dollars. This wave of selling short is a wager that the market would be under pressure as recession fears intensify. The possibility …
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Economists see the upcoming mild recession as a catalyst to kick-start the bull trends for US equities. According to this viewpoint, mild recession equals restart of the secular bull run.Seven of the last eight Fed hiking cycles triggered an economic recession, and US stocks historically do not bottom until a …
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As traders bet on a rebound following the most recent pullback, WTI oil was able to settle back above the $76 mark. The price of WTI crude oil has increased by +2.70% to $76.78. At $80.14, Brent crude has increased by +2.45%. As news of a lightning strike at the …
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Stock losses accelerated Wednesday afternoon when the minutes of the Mar 21-22 FOMC meeting showed policymakers projected a “mild recession” starting later in 2023. The minutes of the FOMC meeting on March 21–22 revealed that policymakers reduced their forecasts for rate increases this year, noting that “many participants had lowered …
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