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Mid-Week Market Wrap
Hey traders!
Markets this week (click that link for video analysis) are still being driven by geopolitical headlines and expectations around inflation.
The US dollar has stayed supported as traders continue to move into safe-haven assets while tensions in the Middle East remain elevated. Higher oil prices are also raising inflation concerns, which reduces the chances of aggressive rate cuts from the Fed.
The euro still looks weak from a structural perspective. Energy sensitivity and risk sentiment continue to weigh on the region, so the bias remains bearish unless price can reclaim momentum higher.
Gold has been volatile, initially rallying on geopolitical risk but now pulling back as the dollar stabilises. For now, the key technical level is Monday’s highs. Above them, gold could quickly regain upside momentum. Below them, the risk shifts to a deeper pullback.
Bias for now:
Dollar supported
Euro bearish
Gold conditional, bearish below Monday’s highs
Expect volatility to remain high with war headlines and economic data still ahead this week.
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Mid-Week Market Wrap
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