Crude oil prices remain elevated, providing Saudi Aramco with record profits as markets digest evidence of a slowing Chinese economy.
U.S. stocks extend losses after Wednesday’s monster sell-off amid negative sentiment and fears that the U.S. economy is headed for trouble due to red-hot inflation and rising rates.
The Nasdaq 100 sits in positive territory on the session despite heightened volatility.
Euro rises on Thursday, supported by a broad-based retreat in the dollar amid falling U.S. government yields. Hawkish comments from an ECB official also bolster the common currency.
The South African Reserve Bank hiked rates by 50 basis points in an attempt to calm inflation and defend the value of the ZAR. Growth revised lower, to 1.7% for 2022
The Japanese Yen is leaning on its safe-haven status as global equity markets continue to slump.
The euro has suffered terribly due to the ECB’s loose policy and proximity to the war. However, rising rate hike expectations may boost EUR as sterling risks rise
US stock markets are slumping into fresh multi-month lows as sellers continue to control price action and further losses look likely.
The New Zealand Dollar may struggle to recover against the USD after PMI data showed that New Zealand’s manufacturing sector cooled in April. APAC traders are on the watch for Chinese credit data.
Crude oil prices fell about 4 percent overnight, reinforcing a key resistance zone as prices left behind a bearish technical warning sign. Are further losses in store for energy prices?
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