Global markets were injected with explosive levels of volatility as the combination of central bank intervention and impressive US data elevated investor sentiment. The Bank of England cut UK interest rates to record lows of 0.25% while NFP exceeded expectations at 255k. Global stocks have edged higher with the risk-on trading environment encouraging investors to riskier assets. Although WTI crude experienced a sharp rebound from the OPEC talks, this commodity remains bearish and could be poised for further declines.
• The #EURUSD is under pressure and could decline towards 1.0900 • The #GPUSD broke down below 1.3100 and could sink towards 1.2800 • #USDCAD bulls may be back in town with 1.3300 looking attractive • #Gold is under pressure and a breakdown below $1315 could spell danger for bulls.
Global markets were injected with explosive levels of volatility as the combination of central bank intervention and impressive US data elevated investor sentiment. The Bank of England cut UK interest rates to record lows of 0.25% while NFP exceeded expectations at 255k. Global stocks have edged higher with the risk-on trading environment encouraging investors to riskier assets. Although WTI crude experienced a sharp rebound from the OPEC talks, this commodity remains bearish and could be poised for further declines.
• The #EURUSD is under pressure and could decline towards 1.0900
• The #GPUSD broke down below 1.3100 and could sink towards 1.2800
• #USDCAD bulls may be back in town with 1.3300 looking attractive
• #Gold is under pressure and a breakdown below $1315 could spell danger for bulls.
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