With the oil benchmarks retreating to $30 per barrel, The major equities indexes have been exposed to increasing downside pressure by the end of the US session to affect negatively on the Asian session which watched sell-off in the beginning of it.
WTI and Brent have been halted in the beginning of yesterday European session by facing resistance area at $32.80 whereas they have started to recede again.
The market focusing is expected to be next on the Fed which is expected to send dovish messages about the global economic slowdown to hint holding rate with no hike in the first quarter of this year, after the financial market turmoil, while the worries about the US manufacturing ability to expand further are rising in this harsh winter
From another side, The Japanese economy Minister Amari refrained from giving answers about the next BOJ's step indicating that Kuroda will do the appropriate step in the suitable time adding that he does not think that BOJ will follow the ECB by sending hinting messages, before taking new step.
While PBOC is looking caring meanwhile of the capital outflows which are threatening the Chinese decelerating economy. So, it is not expected soon to take new easing steps can lower the value of the Yuan further, while it is supporting its offshore exchange rate currently.
Have a good day
Walid Salah El din
Chief Tech Analyst of Trade-24
WTI and Brent have been halted in the beginning of yesterday European session by facing resistance area at $32.80 whereas they have started to recede again.
The market focusing is expected to be next on the Fed which is expected to send dovish messages about the global economic slowdown to hint holding rate with no hike in the first quarter of this year, after the financial market turmoil, while the worries about the US manufacturing ability to expand further are rising in this harsh winter
From another side, The Japanese economy Minister Amari refrained from giving answers about the next BOJ's step indicating that Kuroda will do the appropriate step in the suitable time adding that he does not think that BOJ will follow the ECB by sending hinting messages, before taking new step.
While PBOC is looking caring meanwhile of the capital outflows which are threatening the Chinese decelerating economy. So, it is not expected soon to take new easing steps can lower the value of the Yuan further, while it is supporting its offshore exchange rate currently.
Have a good day
Walid Salah El din
Chief Tech Analyst of Trade-24
The oil benchmarks retreating drove the risk appetite down
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