The financial markets seem to have picked up from where they finished off last week with wild moves across the broader market.
Covid lockdown restrictions In China is forcing demand fears on the Oil market as Oil slumped around 5% on Monday to its lowest in two weeks!
Shanghai sees itself in its fourth week of lockdown restrictions, with the governments moves creating havoc across the Asian markets as they continue to decline with all major indexes down over 3% and see themselves in bear market territory.
The US Dollar continued its march upward as it continues its gains north from its 2-year highs as the Dollar remains a safe-haven in these uncertain times.
The Chinese Yuan was set for its biggest 3-day losing streak in nearly 4-years on growing worries and fears of economic slowdowns in China.
The financial markets in general are extremely volatile now, as many headwinds keep the sentiment negative. The prolonged shutdowns in China, the ongoing unrest in Ukraine, and on top of that we of that have inflation fears added with more than likelier hawkish moves from the central banks, all adding pressure as fears of a global recession seems more and more likely.
Trade cautiously and be patient, look for key levels to be clearly broken before making any decisions on executing trades in this current environment.