US markets closed lower on 04/08 amid trade war fears and weak economic data. Asian markets followed suit with sharp declines, while European shares also fell as recession concerns grew. Oil prices dropped to multi-year lows, and the US dollar slumped as investors anticipate deeper rate cuts by the Federal Reserve.
Gold price (XAU/USD) climbs further beyond the $3,000 psychological mark during the Asian session on Wednesday and retests the overnight swing high as concerns about a tariffs-driven global recession continue to underpin safe-haven assets.
Ethereum continues to move within a bearish Wave C structure, part of a broader Zigzag correction pattern. The current decline is within sub-wave (5), which is in progress and may be nearing completion.
Things are getting ugly, especially in rates and FX. Significant decoupling is occurring, indicating a potentially massive flight out of the U.S. and severe liquidity constraints now hitting the market
GBP/USD snapped a harsh two-day losing streak on Tuesday, finding a technical bounce from the 200-day Exponential Moving Average (EMA) just north of the 1.2700 handle.
Gold price snaps three days of losses, consolidates below the $3,000 figure as US Treasury yields rise, making the non-yielding metal less appealing for investors.
