{"id":61055,"date":"2023-04-24T10:17:23","date_gmt":"2023-04-24T07:17:23","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=61055"},"modified":"2025-10-17T10:09:05","modified_gmt":"2025-10-17T07:09:05","slug":"recession-worries-remain-intense","status":"publish","type":"post","link":"https:\/\/www.ironfx-id.com\/vi\/recession-worries-remain-intense\/","title":{"rendered":"Recession worries remain intense"},"content":{"rendered":"<p>The USD remained rather stable on Friday closing the week relatively unchanged as the market maintains its wait-and-see position and worries about a recession in the US economy remain ever-present. It\u2019s expected to be an easy-going Monday, with fundamentals taking the lead given the low number of high-impact financial releases expected. Also, we note that US stock markets ended the day mixed, yet lower for the week, as investors try to navigate through the conflicting messages from earnings reports released, the worries for a recession and the Fed\u2019s intentions. In the current week, we expect a plethora of earnings reports of high-profile companies to be released, yet we highlight Microsoft (#MSFT) and Alphabet (#GOOG) on Tuesday and Meta (#FB) on Wednesday and Amazon (#AMZN) on Thursday. On the commodities front, we note the continuous drop in oil prices, with a brief interruption on Friday, mainly due to market worries for the demand side of the commodity. Back in the FX market, we note BoJ Governor Ueda\u2019s comment that he would like to see a \u201cquite strong\u201d inflation before altering the bank\u2019s yield curve control policy, which could be perceived as dovish and weigh on JPY.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Recession worries remain intense\" width=\"750\" height=\"422\" src=\"https:\/\/www.youtube.com\/embed\/n12cohMXe1w?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>EUR\/USD seems to have hit a ceiling at the 1.1000 (R1) resistance line. We tend to maintain our bias for the sideways motion to continue given that the RSI indicator continues to run along the reading of 50, implying a rather indecisive market. On the other hand, we note the upward trendline that has been guiding the pair since the 20<sup>th<\/sup> of March, hence some bullish tendencies may be present. Should the bulls actually take charge of the pair\u2019s direction, we may see EUR\/USD breaking the 1.1000 (R1) resistance line and aim for the 1.1140 (R2) resistance level. Should the bears take over, we may see the pair reversing course, breaking the prementioned upward trendline, yet for a bearish outlook we would also require the pair to break the 1.0855 (S1) support line, with the next possible target for the bears being the 1.0695 (S2) level.<\/p>\n\n\n\n<p>USD\/JPY remained comfortably between the 135.15 (R1) resistance line and the 132.85 (S1) support line. The RSI indicator seems to remain close to the reading of 50 implying that the market sentiment may allow for the sideways motion of the pair to continue, yet there is also an upward trendline guiding the pair since the 5<sup>th<\/sup> of March. Hence, we tend to maintain our bias for a sideways motion yet would not be surprised to see a buying interest being expressed by the market for the pair. Should the pair find extensive fresh buying orders along its path, we may see USD\/JPY breaking the 135.15 (R1) resistance line and taking aim of the 137.55 (R2) resistance level. Should on the other hand, a selling interest be expressed by the market, we may see USD\/JPY breaking the prementioned upward trendline, the 132.85 (S1) support line and take aim of the 130.50 (S2) support level.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-other-highlights-for-the-day\"><strong>Other highlights for the day:<\/strong><\/h2>\n\n\n\n<p>Today we note Germany\u2019s Ifo indicators for April and tomorrow in the Asian session Japan\u2019s Chain store sales for March.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-as-for-the-rest-of-the-week\"><strong>As for the rest of the week:<\/strong><\/h2>\n\n\n\n<p>On Tuesday, we note the UK\u2019s CBI figures and later the release of the US Consumer Confidence figures for April. On Wednesday, we note the release of New Zealand\u2019s trade data for March, Australia\u2019s CPI rates for Q1, Germany\u2019s Gfk Consumer sentiment figure for May, UK\u2019s CBI Distributive Trades figure for April and the US durable goods orders for March. On Thursday we get Sweden\u2019s Preliminary GDP for Q1, Canada\u2019s Business Barometer both for April, the preliminary US GDP rate for Q1 and the weekly initial jobless claims while we also note Riksbank\u2019s and CBT\u2019s interest rate decisions. Lastly, in a packed Friday, we get Tokyo\u2019s CPI print for April, Japan\u2019s Preliminary Industrial production rate for March and BoJ\u2019s interest rate decision, France\u2019s, Germany\u2019s and the Eurozone\u2019s GDP Preliminary rates for Q1, UK\u2019s Nationwide house prices rate, France\u2019s and Germany\u2019s Preliminary HICP rates as well as Switzerland\u2019s KOF indicator figure all for the month of April and later the US Consumption Adjusted and Canada\u2019s GDP for February.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-eur-usd-h4-chart\"><strong>EUR\/USD H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2023\/04\/image-111.png\" alt=\"support at one point zero eight five five and resistance at one point one, direction sideways\" class=\"wp-image-61056\" title=\"eur-usd-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 1.0855 (S1), 1.0695 (S2), 1.0530 (S3)<\/p>\n\n\n\n<p>Resistance: 1.1000 (R1), 1.1140 (R2), 1.1270 (R3)<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-usd-jpy-h4-chart\"><strong>USD\/JPY H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2023\/04\/image-112.png\" alt=\"support at one hundred and thirty two point eighty five and resistance at one hundred thirty five point fifteen, direction upward   \" class=\"wp-image-61057\" title=\"usd-jpy-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 132.85 (S1), 130.50 (S2), 127.55 (S3)<\/p>\n\n\n\n<p>Resistance: 135.15 (R1), 137.55 (R2), 140.65 (R3)<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"2003\" height=\"484\" src=\"\/wp-content\/uploads\/2023\/04\/image-113.png\" alt=\"\" class=\"wp-image-61058\" title=\"benchmark-24-04-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1042\" height=\"616\" src=\"\/wp-content\/uploads\/2023\/04\/image-115.png\" alt=\"\" class=\"wp-image-61060\" title=\"table-24-04-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1737\" height=\"852\" src=\"\/wp-content\/uploads\/2023\/04\/image-114.png\" alt=\"\" class=\"wp-image-61059\" title=\"morning-releases-24-04-2023\"\/><\/figure>\n\n\n\n<p class=\"translation-block\">If you have any general queries or comments relating to this article please send an email directly to our Research team at <a href=\"mailto:research_team@ironfx.com\" target=\"_self\">research_team@ironfx.com<\/a><\/p>\n\n\n\n<p>Disclaimer:<br>This information is not considered as investment advice or an investment recommendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced, or hyperlinked, in this communication.<\/p>","protected":false},"excerpt":{"rendered":"<p>The USD remained rather stable on Friday closing the week relatively unchanged as the market maintains its wait-and-see position and<\/p>","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-61055","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-category-financial-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Forex blog - IronFX\u2122 | Recession worries remain intense<\/title>\n<meta name=\"description\" content=\"The USD remained rather stable on Friday closing the week relatively unchanged as the market maintains its wait-and-see position\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ironfx.com\/vi\/wp-json\/wp\/v2\/posts\/61055\/\" \/>\n<meta property=\"og:locale\" content=\"vi_VN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Recession worries remain intense\" \/>\n<meta property=\"og:description\" content=\"The USD remained rather stable on Friday closing the week relatively unchanged as the market maintains its wait-and-see position\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ironfx-id.com\/vi\/recession-worries-remain-intense\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-24T07:17:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-17T07:09:05+00:00\" \/>\n<meta name=\"author\" content=\"IronFX Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/recession-worries-remain-intense\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/recession-worries-remain-intense\\\/\"},\"author\":{\"name\":\"IronFX Team\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\"},\"headline\":\"Recession worries remain intense\",\"datePublished\":\"2023-04-24T07:17:23+00:00\",\"dateModified\":\"2025-10-17T07:09:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/recession-worries-remain-intense\\\/\"},\"wordCount\":810,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/#organization\"},\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"vi\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/recession-worries-remain-intense\\\/\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/recession-worries-remain-intense\\\/\",\"name\":\"Forex blog - IronFX\u2122 | Recession worries remain intense\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/#website\"},\"datePublished\":\"2023-04-24T07:17:23+00:00\",\"dateModified\":\"2025-10-17T07:09:05+00:00\",\"description\":\"The USD remained rather stable on Friday closing the week relatively unchanged as the market maintains its wait-and-see position\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/recession-worries-remain-intense\\\/#breadcrumb\"},\"inLanguage\":\"vi\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/recession-worries-remain-intense\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/recession-worries-remain-intense\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Recession worries remain intense\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/#website\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/\",\"name\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\",\"description\":\"&quot;Our Introducing Brokers program offers competitive conditions tailored to our partners&#039; needs. 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