Share: Natural Gas is in the green on Thursday, putting an end to this week's decline. The US Dollar strengthens as a substantial monetary shift unfolds in Western and Central Europe. Natural gas price could extend upward … [Continue reading]
USD/CAD sticks to modest intraday gains around mid-1.3600s, bullish potential intact
Share: USD/CAD regains positive traction on Thursday and is supported by a bullish USD. The prospects for more Fed rate hikes and a softer risk tone benefit the Greenback. Retreating Oil prices undermines the Loonie and supports prospects for … [Continue reading]
AUD/USD manages to hold above mid-0.6300s, seems vulnerable near YTD trough
Share: AUD/USD remains depressed near the YTD low and is undermined by a combination of factors. Weaker Australian Trade Balance data and China's economic woes continue to weigh on the pair. The USD consolidates near a six-month high and holds back … [Continue reading]
NZD/USD remains under pressure around 0.5870 ahead of China Trade Data
Share: NZD/USD remains on the defensive below the 0.5900 barrier amid a stronger USD. US ISM Services PMI climbed to 54.5 in August vs. 52.7 prior. New Zealand’s Manufacturing Sales Q2 improved to 2.9% vs. a 2.1% drop in the previous reading. … [Continue reading]
Tornado Cash mixer blacklisted, Ethereum co-founder Vitalik Buterin proposes Privacy Pools
Share: Tornado Cash mixer blacklisted, Ethereum co-founder Vitalik Buterin proposes Privacy Pools After the clampdown on Tornado Cash developers, the US Treasury Department’s Office of Foreign Assets Control blacklisted the mixer. As a possible … [Continue reading]
USD/CAD whipsaws after BoC holds rates steady, keeping a hawkish tone
Share: USD/CAD reacted with volatility, hitting a daily high of 1.3676 after the Bank of Canada kept rates unchanged but maintained a hawkish stance on inflation. Despite a -0.2% annual contraction in Canada’s Q2 GDP, the BoC expresses concerns … [Continue reading]
USD/CNH: Risks are now tilted to the upside – UOB
Share: Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group argue that USD/CNH could have embarked on a potential move to 7.3500. Key Quotes 24-hour view: We expected USD to trade sideways yesterday. However, USD took off … [Continue reading]
Optimism whales add 40 million OP tokens to their holdings
Optimism (OP) whales' spending pattern strongly suggests a widespread accumulation. These investors have accumulated tens of millions of OP tokens in the last two months. Considering that OP price has slumped 25% in the last month, these … [Continue reading]
USD/CHF extends its upside near 0.8900 amid USD demand, investors await US ISM Services PMI
Share: USD/CHF extends its upside near 0.8895 amid the strong USD and higher Treasury yield. July US Factory Orders came in at -2.1% MoM, below the market forecast of -0.1%. Market participants anticipate a 25 basis point (bps) rate rise for the … [Continue reading]
EUR/USD: Euro tumbles amid slowing EU’s business activity, drops below 1.0800
Share: EUR/USD pair fell to 1.0726, down 0.63%, as the Eurozone Producer Price Index and PMI data weakened than expected, signaling a slowing economy. Despite a contraction in business activity, ECB President Christine Lagarde maintains a hawkish … [Continue reading]