Risk sen­ti­ment re­mains frag­ile; Oil tum­bles to one-year low

Financial Mirror (Cyprus) - - WORLD - By Luk­man Otu­nunga, Re­search An­a­lyst at FXTM

Global risk sen­ti­ment swung back and forth this week as in­vestors dealt with on­go­ing trade ten­sions, Brexit-re­lated un­cer­tainty, slow­ing global growth fears and de­pressed Oil prices.

The over­all mar­ket mood re­mains cau­tious with in­vestors on guard, and this sen­ti­ment con­tin­ues to be re­flected across global eq­uity mar­kets. Asian stocks closed mostly lower on Fri­day thanks to lin­ger­ing con­cerns over the US-China trade dis­pute while Euro­pean mar­kets are trad­ing cau­tiously higher amid pos­i­tive Brexit de­vel­op­ments.

With a strong sense of an­tic­i­pa­tion mount­ing ahead of the G20 sum­mit next week, Wall Street was trad­ing lower Fri­day af­ter­noon as in­vestors stroll to the side­lines. cen­tral banks. With in­ter­est rate dif­fer­en­tials in favour of the Dol­lar and safe-haven de­mand sup­port­ing up­side gains, the out­look re­mains fun­da­men­tally bullish.

As re­gards the tech­ni­cal pic­ture, the Dol­lar In­dex is bullish on the daily charts with 97.00 act­ing as the first point of in­ter­est. be re­flected in price ac­tion. Fo­cus­ing on the tech­ni­cal per­spec­tive, WTI Oil has scope to de­pre­ci­ate to­wards $50 a bar­rel in the near term.

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