Forex

Crude oil prices are at risk on rising concerns about slowing economic growth, with WTI breaking under a key trendline. Retail traders are now also majority net-long, a bearish signal.

The Australian Dollar has been trading as a barometer of the markets’ recession fears. It may fall in the week ahead as worries about global growth continue to fester.

Gold and silver tend to show a close correlation, but their performance could begin to diverge as rising recession odds cloud the outlook for some precious metals with industrial applications.

Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Wall Street-bullish contrarian trading bias.

Sterling ends the week slightly higher but price action over the last 72 was essentially flat. Crucial PCE inflation next week and US, UK final GDP figures

Stocks Rise as Bond Rally Boosts Technology Stocks.

GBP/USD posted a strong reversal candle last week, and is holding up so far; higher prices in the days ahead anticipated.

Germany warned that manufacturers may have to shut down this winter if gas supply doesn’t improve. EU leaders discuss life without Russia at today’s meeting in Brussels

Brent crude prices look to be making a comeback as the OPEC+ meeting looms. Crude oil conditions remains tight in spite of recent downside.

Japanese Yen Rises Across the Board as Softer Yields and Oil Prices Underpin.