The PBoC shocked the global markets on Friday with another interest rate cut. In the Euro-zone, the ECB has suggested that further QE measures may be taken to promote economic growth. In the midst of this, the Fed has been put under more pressure as the fears about the pace of growth in China may affect its decision to raise US rates in the upcoming meeting.
· The EURUSD is technically bearish on the daily time frame · The GBPUSD is technically bearish on the daily time frame · Gold experienced a slight decline, but USD weakness should promote a move to the upside. The global sentiment remains weak and this risk-off environment should increase appetite for safe haven assets.
The PBoC shocked the global markets on Friday with another interest rate cut. In the Euro-zone, the ECB has suggested that further QE measures may be taken to promote economic growth. In the midst of this, the Fed has been put under more pressure as the fears about the pace of growth in China may affect its decision to raise US rates in the upcoming meeting.
· The EURUSD is technically bearish on the daily time frame
· The GBPUSD is technically bearish on the daily time frame
· Gold experienced a slight decline, but USD weakness should promote a move to the upside.
The global sentiment remains weak and this risk-off environment should increase appetite for safe haven assets.
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