A wave of jitters shrouded the markets during trading on Monday following the tepid China CPI release of 2.3% which rekindled concerns over the pace of growth of the world’s second largest economy. The wave of risk aversion boosted appetite for the safe-haven Yen and Gold as investors scattered away from riskier assets. A strengthening Yen has left the BoJ under immense pressure with critics questioning the viability of Abenomics. We still remain fundamentally bearish on WTI Oil with the pending Doha meeting leaving prices pressured. -The EURUSD has turned bullish on the daily timeframe and Dollar weakness may provide an opportunity for prices to trade towards 1.15.
-The GBPUSD is bearish and a breakdown below 1.42 may encourage another selloff towards 1.41.
-WTI is bearish and a breakdown below $40 could open a path towards $38
-Gold is bullish on the daily timeframe and may incline towards $1300
A wave of jitters shrouded the markets during trading on Monday following the tepid China CPI release of 2.3% which rekindled concerns over the pace of growth of the world’s second largest economy. The wave of risk aversion boosted appetite for the safe-haven Yen and Gold as investors scattered away from riskier assets. A strengthening Yen has left the BoJ under immense pressure with critics questioning the viability of Abenomics. We still remain fundamentally bearish on WTI Oil with the pending Doha meeting leaving prices pressured.
-The EURUSD has turned bullish on the daily timeframe and Dollar weakness may provide an opportunity for prices to trade towards 1.15.
-The GBPUSD is bearish and a breakdown below 1.42 may encourage another selloff towards 1.41.
-WTI is bearish and a breakdown below $40 could open a path towards $38
-Gold is bullish on the daily timeframe and may incline towards $1300
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