The Euro continued to slide today ahead of the ECB forum that will see a star-studded line up from the ECB, Fed and BoE. Will they deliver anything for EUR/USD?
The price of oil approaches the monthly low ($101.53) as OPEC retains the upward adjustment in their production schedule.
The S&P 500 and Nasdaq 100 suffered punishing losses in the first half of 2022 and in the second quarter, pressured by rising recession fears and tightening financial conditions.
EUR/JPY and EUR/GBP rates are still in bullish breakout territory, while EUR/USD rates remain rangebound.
European equities have continued to slide as geopolitics remain key catalysts for price action. OPEC+ agrees to increase production in August, oil prices ease.
Bitcoin fell overnight alongside US stocks as traders hit the sell button. Market sentiment may rebound in APAC trading, particularly if retail sales data out of Japan and Australia impresses.
Stocks Slide as Key Psychological Levels are Broken. More Downside to Come?
U.S. May core PCE falls on a year-over-year basis, cooling to 4.7% from April’s 4.9%, but fails to improve market sentiment amid growing recession fears.
The US dollar has broken higher in the last three sessions as equity markets turn South as risk-on sentiment disappears.
Gold edging lower as firmer USD outweighs falling bond yields.
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