The Saudi price war was a flashpoint for today's action but it's really all about coronavirus. The news on the weekend worsened with too many cases and outbreaks to count.
The conditions for a panic were evident the moment markets opened plunged heavily lower. Japanese market participants invest abroad massively but when uncertainty hits, they bring their money home. No one wants to be the last one to the exit and now the building is on fire and it's a stampede. Oil Price Declines Roil Global Markets, Virus Containment Efforts Escalate, Supply Crunch Ripples Past China, Treasury Yields Fall Further As Investors Expect More Rate Cuts and there are a lot of issue going around the world so basically 94.26 would be a potential area for dxy which is pivot weekly s3 or even the past lowest low around 93.87 (The last destination where price may head and halt if this pandemic eats global market for a certain while).
The conditions for a panic were evident the moment markets opened plunged heavily lower. Japanese market participants invest abroad massively but when uncertainty hits, they bring their money home. No one wants to be the last one to the exit and now the building is on fire and it's a stampede. Oil Price Declines Roil Global Markets, Virus Containment Efforts Escalate, Supply Crunch Ripples Past China, Treasury Yields Fall Further As Investors Expect More Rate Cuts and there are a lot of issue going around the world so basically 94.26 would be a potential area for dxy which is pivot weekly s3 or even the past lowest low around 93.87 (The last destination where price may head and halt if this pandemic eats global market for a certain while).
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Heavily sold bucks for yen hmmm..
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poor yield while strong yen.
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People dumping state capital market meaning billions of foreign investment outflow back to their local country which can weaken the dollar indeed
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An outcome that panic in the capital market! Fear hits the ceiling and retrace lower so far. sentiment cooling off from fear but can escalate back again if the pandemic escalate
