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The GBP/USD started last week near the 1.25950 ratio and quickly began to challenge 1.26000, and going into this weekend the currency pair was comfortably above the 1.29100 ratio after a rapid rise higher.
The US-driven trade war is playing havoc with markets, sending stocks and commodities lower, while the greenback sinks in favor of the Euro in the Forex market.
WTI Crude Oil continued to show an ability to challenge new lows this past week, this as supply remains solid and thoughts on economic outlook may be factoring into the commodity.
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Markets have moved into a decisive risk-off mode, with the USD on top, as stocks, commodities, and commodity currencies look generally weak.
The EUR/USD snapped lower on Friday in the wake of the public argument between the U.S White House and President Zelensky of Ukraine, the currency pair ended trading near 1.03738.
Selling continued to be seen in Coffee Arabica this past week, and speculators dreaming about taking advantage of an anticipated downturn in the commodity following its strong bullish trend the past year and a half may be getting intrigued.
WTI Crude Oil will begin this week of trading below the 70.000 USD ratio, the commodity went into this weekend near 69.770 and this was above Wednesday and Thursday’s lower prices.
Weekly insights on USD/JPY, NASDAQ, Gold, and more.
Markets are seeing a continuation of these same themes: worry over tariffs and persistent inflation, broken by periods of risk-on bullishness which has pushed US stock markets and a few commodities to new highs, punctuated by deep pullbacks.
The GBP/USD went into this weekend near the 1.26307 ratio and has managed to hold onto the higher elements of its one month technical price range, this as risk events are certainly ahead.
The price for Coffee Arabica delivered more wagering adventures last week, early volatility turned into a retest of highs, followed by strong selling which saw the 400.00 level become vulnerable.
After a week which saw WTI Crude Oil see a push upwards starting on Monday and extending to highs on Thursday, the commodity then reversed lower and pushed beneath 70.000 USD for the first time since late December.
Markets fluctuate: EUR/USD volatile, gold eyes $3000, USD/JPY falls. Full weekly analysis inside.
Markets have been dominated by a weak US Dollar whose price action has become disconnected from its bullish fundamentals, while US stock markets prepare to break to new record highs. Gold and a couple of softs have also been making new bullish breakouts.
