By Eleftherias Kourtalis The growth prospects in the eurozone continue to deteriorate and recession is certain in the current second half, as estimated by Goldman Sachs and this is due to the indications that already exist from the economic activity, the situation on the energy front as well as due to the political developments in […]
Tag: recession
Forex Today – Asian Session: All the attention on the Fed decision and the EU energy crisis
What to watch for on Wednesday, July 27: Risk aversion gripped financial markets on Tuesday, further benefiting the dollar. Several factors dented the market sentiment. Germany reported that Gazprom, the Russian gas giant, is delivering almost 20% of its usual supply of natural gas. EU countries have agreed to reduce gas use for the coming […]
Gold Forecast: XAU/USD Dips Below $1,720 Ahead of FOMC Decision
The price of gold remains in choppy trading conditions as investors await the Fed rate hike of 75 basis points. US corporate results weigh on the mood as companies complain of inflation as the main reason for cutting or losing profits. Gold Price Forecast (XAUUSD): Trending Down, But Remaining Sideways Ahead of FOMC Meeting. the […]
AUD/USD pulls away from one-month highs ahead of US and Australian CPI data on Wednesday
AUD/USD pulled back from 1-month highs on fresh dollar buying. The risk-averse environment benefited the safe-haven dollar and weighed on the risk-sensitive Aussie. Traders are watching US consumer confidence data for some lift ahead of the Australian CPI. The pair AUD/USD it is retracing from one-month highs, around the 0.6980-0.6985 area touched on Tuesday. The […]
Copper: Renews its two-week high as dollar weakness meets supply concerns
Copper posts a three-day uptrend despite recession fears and pre-Fed anxiety. The drop in the dollar and fears of a lower supply from China and Peru also underpin the recovery movements. US consumer confidence and slowdown rumors may entertain traders ahead of the FOMC. Copper prices remain firm as markets cheer on a softer dollar […]
Japan raises its economic outlook and points to a broader recovery
Japan upgraded its overall outlook for the economy for the first time in three months in Julysignaling a broader recovery in economic activity as the COVID-19 pandemic faded, Reuters reported in publishing the July economic report. Key comments The improvement was largely due to the government becoming more positive on consumption and employment, amid hopes […]
Biden: The US is not in a recession
US President Joe Biden assured on Monday that his country is not in a recession, although growth figures to be released later this week may show that the US economy shrank for a second straight quarter. “I don’t think we know a recession,” Mr. Biden told reporters. Citing positive employment data, the head of state […]
Forex Today – Asian Session: A Calm Start to a Busy Week
What to watch for on Tuesday, July 26: The week started in risk aversion mode, although the better performance of equities weighed on the USD since the middle of the European session. Earnings reports and hopes that the US Federal Reserve will refrain from innovating on monetary policy partly offset concerns about a global recession. […]
USD/CAD flirts with the 50 DMA around 1.2850
A combination of factors caused aggressive intraday selling around USD/CAD on Monday. The rally in crude oil prices underpinned the loonie and put pressure on amid a weaker dollar. Recession fears could dampen oil prices and limit dollar losses ahead of the key FOMC decision. The pair USD/CAD has seen an intraday turnaround from multi-day […]
Forex today: The dollar recovers amid a climate of uncertainty in the beginning of the Fed week
This is what you need to know to trade today Monday July 25: Risk aversion flows into the start of the week on Monday as investors remain cautious amid lingering fears of a likely global recession. Traders prefer to stay on the defensive as the Fed is set to raise interest rates by 75 basis […]