Europeans returning from their summer vacation will find a more fragile economy at risk of buckling under the threats of energy bills, record inflation and tighter monetary policy, Bloomberg notes. PMIs due on Tuesday will likely show private sector output contracted for a second month, reinforcing signs that a recession in the 19-nation eurozone is […]
Tag: recession
Liz Truss: Recession ‘not inevitable’
British Foreign Secretary Liz Truss argues, in an interview she gave to The Sun newspaper and published today, that the recession is “not inevitable” and that it is possible to “seize opportunities”. “We hear very often that there will be a recession,” Trass says, adding, “I don’t think it’s inevitable.” “We can take opportunities here […]
Gold Forecast: XAU/USD extends losses past $1,750
The price of gold slumped 3% for the week, despite investors’ sentiment on the July FOMC minutes. US central bank policy makers continued their campaign against inflation, while acknowledging downside risks to growth. Gold Price Analysis (XAU/USD): The break below $1,750 opened the door to the range of $1,711 to $1,739. the price of gold […]
Gold Forecast: XAU/USD Looks Vulnerable Near 3-Week Lows Amid Rising Dollar and Bond Yields
Gold continues to lose ground for the fifth day in a row and falls to a multi-week low. Gloomy expectations from the Fed, rising US bond yields and sustained dollar buying are putting pressure on. Recession fears and risk aversion momentum fail to impress bulls or lend any support to the metal. The Prayed it […]
AUD/USD Price Analysis: Bears have the upper hand below 0.6900
AUD/USD falls to a two-week low on Friday amid strong dollar-buying tracking. Risk aversion momentum puts additional bearish pressure on the risk sensitive Aussie. The bears are now waiting for a weakness below the monthly low before placing further bets. The pair AUD/USD extends its recent sharp rejection of the technically significant 200-day SMA and […]
NZD/USD sinks towards 0.6200, fresh monthly low amid strong USD/risk aversion
NZD/USD continues to lose ground for the fifth consecutive day and is approaching the monthly low. Aggressive expectations from the Fed and rising US bond yields underpin the dollar and put pressure on the pair. Recession fears also benefit the safe-haven dollar and keep flows away from the risk-sensitive kiwi. The pair NZD/USD remains under […]
USD/CHF pulls back from two-week highs after failing to break above 0.9600
USD/CHF rises for the fifth day in a row, though trims gains from nearly two-week highs. Fed expectations and rising US bond yields lift the dollar and remain supportive. The risk aversion state supports the safe haven Swiss franc and caps gains. USD/CHF continues this week’s positive move for the fifth day in a row. […]
GBP/USD falls below 1.1850, to lows since mid-July
GBP/USD falls for the third day and hits the lowest in a month and a half. Fed expectations and recession fears underpin the dollar and put downward pressure. DXY is trading at 1-month highs after breaking above 108.00. GBP/USD extends bear run and trades at July 15 lows below 1.1850 on Friday. The context of […]
Gold Forecast: XAU/USD trims modest intraday gains, holds above two-week lows
Gold gains some positive traction on Thursday, although it lacks follow-up buying. Pullback in US bond yields and recession fears offer safe haven XAU/USD support. Federal Reserve expectations and a strengthening dollar should limit any significant gains. The Prayed It maintains its modest intraday gains during the early North American session and is currently sitting […]
USD/CAD remains defensive below 1.2900 after US data, downside remains limited
USD/CAD has seen an intraday reversal from the one-week highs reached on Thursday. Oil price rebound underpins loonie and puts pressure amid modest dollar pullback. Upbeat US macro data and aggressive Fed expectations should cap and support the dollar. The pair USD/CAD it retraces from a week and a half high reached this Thursday and […]
