How Has EUR/USD Changed Recently? Crude Oil Decreased Below $100 Yesterday, Could Black Gold Reach Less Than $70?
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A chaotic trading session yesterday saw a couple of major price levels broken. Crude oil fell below the $100pb support, the EURUSD sank below 1.03, Cable slipped below the 1.20, gold tanked to $1763 an ounce, and the US 2-year yield exceeded the 10-year yield. The common denominator for the majority of the price action was the mounting recession fears and investor panic. Cherry on top. There is news that officials in Shanghai are mass testing again, following a surge in cases in the past two days.
Boris Johnson
European futures point at a positive start this morning, but gains remain fragile. In the UK, Boris Johnson lost two important figures for its cabinet yesterday, including Rishi who said ‘they can’t carry on like this’, referring to the illegal parties, the sexual abuse allegations, etc. The political turmoil in the UK certainly added to the selling pressure on the sterling, however the reason why Cable slipped below the 1.20 mark was a booming US dollar, across the board. The dollar index rallied to a fresh 20-year high and flirted with the 107 mark.
Watch the full episode to find out more!
- 0:00 Intro
- 0:22 Market update
- 0:58 Crude oil: selling the top, or buying the dip?
- 3:05 You don’t like Chinese stocks, anymore
- 4:42 Euro down, European stocks under pressure
- 8:35 BoJo cabinet loses blood, but that’s not why pound is down
Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #crude #oil #topselling #dipbuying #inflation #recession #DAX #CAC #selloff #XAU #USD #EUR #CHF #BoJo #UK #GBP #China #stocks #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
