Oil and Dollar Weakness Add to Recession Risks🛑🛑🐻🐻🐻🐻🐻🔻🔻🔻🔻🔻🔻🔻🔽🔽🔽🔽🔽🔽
Crude oil prices have dropped below $55 per barrel, a level below the breakeven point for U.S. shale producers. If this persists, production will decline as unprofitable wells are shut. OPEC+ will unlikely intervene, as they aim to regain market share. The falling oil prices also signal slowing global demand and an increased risk of recession.
Meanwhile, the U.S. dollar has started to weaken. The narrowing interest rate spread between the U.S. and Japan puts pressure on the US dollar. The price of gold benefits from dollar weakness, especially when paired with falling real yields and slowing economic activity
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