Banking Fears Subside

cromwell_weekly_mainimage_050423.jpg

This post was originally published on Trademakers

courtesy of trademakers

Last week was quieter than expected. Initial fears of a full-blown banking crisis seemed to subside with Deutsche bank and US regional bank contagion fears all but gone for now. The US Dollar had a relatively quiet week with month / quarter end flows dominating.

Both Euro and GBP traded sideways. Eurozone inflation is now moving to the downside which will cap any upside potential for the single currency. GBP inflation does remain high with a small surprise in Q4 GDP which may force the BoE to continue to act.

 

Commodity currencies had a better week as risk on dominated the mood. AUD and NZD were up against the USD while JPY was the weeks loser falling around 1.5% vs the US Dollar.

Oil continued its volatile journey gaining nearly 10% as the risk on mood took hold in commodities. WTI closed around $75.50.

 

The week ahead should be quieter as we enter Q2. The banking crisis seems to be behind us for now and as long as that remains then we could see a further risk on rally.

 

Data for the week we have Non-Farm Payrolls to close the week along with the long Easter Weekend.

Weekly Majors Market Performance

cromwell_fx_marketview_040423

What is Cromwell FX?

Cromwell FX is a quantitative FX manager offering superior risk adjusted returns. The portfolio is the most liquid pairs . The strategy is fully automated and adhere to strict rick management procedures to control leverage and position limits.

The post Banking Fears Subside first appeared on trademakers.

Connect with SGT Markets

Follow us for the latest news & insights

Related Articles

tm_market_view_2024-1024x538.jpg

FX Volatility Lower For The Week

trademakers_marketview_130923-1024x538.jpg

Inflation Continues to Quell Fed Cuts

trademakers_marketview_130923-1024x538.jpg

Quiet week with volatility on the horizon

trademakers_marketview_130923-1024x538.jpg

Fed to cut or not to cut

trademakers_marketview_130923-1024x538.jpg

Fed Cuts Priced in Now

trademakers_marketview_130923-1024x538.jpg

Reversal of Yields

trademakers_marketview_130923-1024x538.jpg

Yields Continue to Slip

trademakers_marketview_130923-1024x538.jpg

Happy New Year

trademakers_marketview_130923-1024x538.jpg

Dollar Regains Strength

trademakers_marketview_130923-1024x538.jpg

Yields Move Lower

trademakers_marketview_130923-1024x538.jpg

Yields Find Support

trademakers_marketview_130923-1024x538.jpg

Rate Cuts on The Horizon