Today’s Notable Sentiment Shifts
Antipodeans – AUD and NZD lost ground on Thursday as markets wagered on an ever-more aggressive cycle of rate rises by the FOMC that would threaten both the outlook for global and the bull run in commodities markets.
Additionally, Reuters notes that “investors are also beginning to fret that such drastic tightening is likely to slow economic growth across the developed world and risk recession, particularly in Europe where energy costs are soaring. That outlook would not be especially bullish for commodity demand overall, even if a protracted conflict in Ukraine tended to keep energy prices higher for longer.”
Additionally, Reuters notes that “investors are also beginning to fret that such drastic tightening is likely to slow economic growth across the developed world and risk recession, particularly in Europe where energy costs are soaring. That outlook would not be especially bullish for commodity demand overall, even if a protracted conflict in Ukraine tended to keep energy prices higher for longer.”
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