The Japanese Yen may benefit from US recession concerns, lower US treasury yields and safe-haven appeal given the renewed US-China tensions over Taiwan visit
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CAD-bullish contrarian trading bias.
Brent crude oil prices may rise ahead of OPEC+ deliberations as members consider the economic outlook and optimize their leverage in the geopolitical landscape.
The Australian Dollar went lower immediately after the RBA raised the cash rate target by 0.50% to 1.85%, as anticipated but the statement was interpreted as less hawkish.
Crude oil prices fell nearly 5% on Monday, starting the month off on a sour note. A weak Chinese PMI reading added to already ailing economic growth prospects, dragging sentiment…