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