JPY and EUR are the only bastions of resilience amid the sell-off mood of the market; gold is up to $1700, oil is a real problem…
Tag - wti - west texas intermediate
Middle of the week, no big news, USD slightly up, GBP prone to weakness as the British PM still in ICU
Brent followed the case of WTI, although not into the negative zone (yet); the AUD and the NZD are marching upwards across the board, the USD stays relatively strong.
The week has started with a cautious note...
The US-China relations become more tensed pushing the USD gain value against the rest of the currencies; JPY loses, gold and oil indecisive.
The market sentiment is risk on today. It’s based on recovery dynamics and potential drug developments. Nevertheless, tensions between the USA and China remain in focus.
As the risk-on mood stays in the market pushing the AUD to beat new local highs, the USD goes down, gold - sideways, and the oil price - up.
The risky mood is getting back in the Forex market pushing the risky currencies in line with the USD/JPY upwards.
The USD loses its grip over currencies as lighter moods enter the market.
Hopes for the EU recovery fund to be accepted and put to action soon are pushing the EUR higher across the board.