The global economy has been hit by Russia’s invasion of Ukraine. Global economic growth stalled in the second quarter of 2022, and indicators in many economies now point to an extended period of subdued growth.
GBPUSD plunges to fresh all-time lows at 1.0359 during the Asian trading marking the biggest one day fall and extending the previous week slide. As of writing GBPUSD trades at 1.0548 the lowest level since February 1985.
Bitcoin had a quiet weekend after a stormy week that drove the number one cryptocurrency below the $19000 mark. Bitcoin is approaching the end of third quarter with losses that exceed 10%, while YTD losses are up to 59%.
Brent oil is down 5.08% at $85.76 hitting the lowest level since January 25, 2022 as recession fears spread across all asset classes. West Texas Intermediate crude oil
FedEx stock is down 3.68% at 148.86 after the company announced yesterday the plans for 4 billion cost-cutting and an increase of 6.9% in shipping rates.
Gold price continues lower for the second consecutive session as investors expect more interest rate hikes from the Fed.
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Euro continues to feel the pressure as Fed continues with hawkish rhetoric and Putin ordered a partial mobilization. EURUSD
The Central Bank of Turkey cut the interest rates by 100 bps from 13% to 12%
DocuSign (DOCU) announced it has hired a Google (GOOGL) executive, Allan Thygesen, to be its next CEO. Allan Thygesen will replace Dan Springer.
