Market Turbulence: Yields, Oil, US Indexes, Gold, Crypto and Beyond | Trade Zone with Joe Jeffriess
Welcome to this week’s market breakdown!
In this week’s video, we’re laser-focused on dissecting major markets by breaking down their charts. We’ve left no stone unturned, analysing current price action, identifying critical support and resistance levels, and providing essential insights to keep an eye on.
📊 A Week of Whirlwinds and Market Shifts
Another volatile week traders, gold and oil, have been vital movers and global indexes mainly traded lower this week. Yields are back in focus, with the 10-year hitting 5%, a level not seen since 2007. This was a factor in stock indexes moving lower. The USD was choppy this week, as were other risk majors.
Powell spoke on Thursday, and the comment didn’t suggest further rate hikes this year but did maintain the message of higher for longer. These comments could have contributed to the moves we are seeing in yields.
We couldn’t fit in next week’s news outlook today as we had a few subjects to cover. To end the week, we have UK Retail Sales, and traders could also be watching gold and oil and if they can continue to push higher and through resistance. Yields one to watch, and if they continue to pop, will the pain continue for stock indexes? Crypto has seen two days of demand. Could there be further gains into the weekend?
Lastly, the USDJPY price continues to trade close to 150. If this level is crossed, keep an eye on the price for possible intervention.
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Trade Zone Weekly Wrap Update.
Have a great weekend.
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