Dollar Highs

Top of the morning to all readers as we head into the start of cash trade in Europe this Hump Day.

Main Update:?

Recession fears take center stage spurring dollar demand as we print another new high for the year. WTI Crude Futures took a nosedive below $100 but have since rebounded albeit mildly on the back of rising dollar and concerns surrounding an economic downturn and demand destruction. With dollar demand putting immense pressure on major pairs (apart from the Yen), gold & euro futures plummet - cementing a new low for 2022, Cable hits 28-month lows following news of the resignation of UK Finance Minister, Rishi Sunak.?

Data Ahead:?

BoE’s Pill to speak at 0910 GMT, Eurozone Retail Sales figures at 1000 GMT, BoE’s Cunliffe at 1330 GMT, Fed’s Williams slated for 1400 GMT, ISM figures and JOLT’s numbers out of the US at 1500 GMT.

That is it from me today, for more head on over to the Duggan Capital Youtube Channel for The Daily Briefing and Pre-US Rundown. For those interested in finding a community of like-minded cohorts, do hit that purple button below and sign up for the ProTraders Package to enjoy a 1-month Free Trial Period to trade with us in our Virtual Trading Floor via Discord.

Have a great session ahead, this was Your Morning Reed.?

Sources: Trading Economics, Newsquawk, Bloomberg, RTRS, Caxton.io, Amplify Trading, Macro Hive.

Disclaimer: This is for information purposes ONLY & not meant as trading/investment advice. Reader discretion advised.