EUR/USD reverses Friday’s corrective pullback, stays pressured towards yearly low.China’s covid conditions, G7 sanctions on Russia intensify risk aversion.
Fears of Fed’s faster/heavier rate hikes keep US Treasury yields, USD on the front foot.Second-tier data, ECB’s Lagarde may entertain traders ahead of Wednesday’s US inflation data.
EUR/USD bears return to the table, following Friday’s failed attempt to rebound from the yearly low, as risk aversion joins the chatters surrounding monetary policy divergence between the European Central Bank (ECB) and the US Federal Reserve (Fed).
Even if Fed Chair Jerome Powel rejected the idea of 75 basis points (bps) of a rate hike, fears of inflation weighing on the economic growth and Friday’s upbeat US jobs report for April suggest that the Fed hawks aren’t off the table.
The US Nonfarm Payrolls (NFP) reprinted the 428K figures, if compared to the revised figures for March, by surpassing the 391K forecasts. On the same line, the Unemployment Rate also remained intact at 3.6%..
Unless providing a daily close beyond a downward sloping trend line from March 31, around 1.0600, EUR/USD remains vulnerable to visiting 2017’s yearly bottom surrounding 1.0340.
AUD/USD hits fresh four-month low near 0.7000 on sour sentiment ahead of China trade.AUD/USD justifies its risk barometer status by declining to the 0.7000 threshold during Monday’s Asian session, around the lowest levels since January. Risk aversion intensifies as China’s covid conditions worsen, G7 unveils fresh sanctions on Russia. Chinese trade data eyed.
EUR/USD eyes fresh 2022 low around 1.0500 on damp mood, Fed-ECB divergence.EUR/USD bears return to the table, following Friday’s failed attempt to rebound from the yearly low, as risk aversion joins the chatters surrounding monetary policy divergence between the European Central Bank (ECB) and the US Federal Reserve (Fed).
Gold eyes $1,850 yet again amid a potential bear flag.Gold Price is back in the red zone on Monday after facing rejection below the $1,900-mark last Friday. The unrelenting strength in the US dollar alongside the Treasury yields, amid a risk-off market profile, weighs negatively on the bright metal.
Why this bullish signal could trigger SafeMoon price to double soon.SafeMoon price has been on a losing streak for more than four months and shows signs of a potential recovery. The daily time frame reveals a bullish pattern that is in development and could trigger a reversal.