Market Turmoil Intensifies With Deepening Recession Fears

In today’s relatively subdued markets, the notable development is weakness in commodity currencies, led by Australian Dollar. This decline comes amid a drop in oil prices following Saudi Arabia’s decision to cut official selling prices across all regions. Additionally, precious metals have softened in response to rebound in global benchmark treasury yields. The downward trend […]

The picture is pretty much the same through Asian and early part of European session, with the Australian and New Zealand Dollars, alongside the Canadian Dollar, persisting as the day’s underperformers. Swiss Franc has also found itself under pressure, particularly against its European counterparts, aligning with the commodity currencies in their struggle. Conversely, Yen and […]

Dollar fell sharply overnight and the broad-based decline extended into Asian session today. Some analysts attributed this selloff to Fed Chair Jerome Powell’s commentary during his Congressional testimony. Powell’s mention of needing “a little bit more data” before contemplating rate cuts has ignited a wave of speculation among investors and analysts alike, interpreting this statement […]