Share: XAU/USD Current price: $1,957.96 The United States Producer Price Index added 0.1% YoY in June, beating expectations. Federal Reserve´s Mary Daly favored additional rate hikes despite cooling inflation. XAU/USD holds on to weekly gains, but … [Continue reading]
Litecoin holders await bullish trend reversal 20 days before the halving
Share: Litecoin halving is 20 days away, and on-chain indicators of the altcoin have flipped bearish. There is a spike in social activity volume in Litecoin ahead of the halving event. LTC price has sustained above $100, yielding more than 3% gains … [Continue reading]
USD/CHF plummets to fresh low since 2015 as USD downfall remains uninterrupted
Share: USD/CHF continues losing round for the sixth straight day and dives to a fresh multi-year low. The USD selling remains unabated and turns out to be a key factor behind the ongoing decline. The oversold RSI on the daily chart might prompt … [Continue reading]
AUD/JPY moves away from monthly low set on Wednesday, climbs closer to mid-94.00s
Share: AUD/JPY scales higher for the second straight day and recovers further from the monthly low. The risk-on environment undermines the safe-haven JPY and benefits the risk-sensitive Aussie. Speculation for a hawkish shift by the BoJ to limit … [Continue reading]
Coinbase SSA efficacy questioned by Gensler after former SEC chair Jay Clayton’s counsel
Share: SEC Chair Gary Gensler has expressed concerns about cryptocurrency exchanges operating "conflicting services." Citing "limited risk monitoring," Gensler went negative on crypto exchanges during a Webinar on July 12. Multiple institutions … [Continue reading]
USD/JPY stumbles to a one-month low as US CPI slows, US bond yields dive
Share: USD/JPY pair plunges to a one-month low as US inflation data surprise and Treasury yields fall, putting pressure on USD. Despite inflation dropping closer to the target, a dovish stance from the Fed weighs on the already battered USD. The … [Continue reading]
BoC’s Macklem: BoC is prepared to raise rates further
Share: Bank of Canada (BoC) Governor Tiff Macklem comments on the policy outlook following the BoC's decision to raise its policy rate by 25 basis points to 5% in July. Key takeaways "Further rate decisions will be guided by assessment of incoming … [Continue reading]
The Dollar tends to perform poorly in the immediate period after the CPI data – MUFG
Share: Economists at MUFG Bank analyze how the US Dollar tends to perform after the release of the CPI report. There is scope for downside surprises The Dollar tends to perform poorly in the immediate period after the CPI data. In a six-hour period … [Continue reading]
RBNZ’s pause is highly credible – ANZ
Share: As universally anticipated, the RBNZ left the Official Cash Rate (OCR) unchanged at 5.5%. The NZD is slightly higher after a small dip. Economists at ANZ Bank analyze the decision. Nothing to see here The RBNZ left the OCR unchanged at 5.5%, … [Continue reading]
PBOC sets USD/CNY reference rate at 7.1765 vs. 7.1886 previous
Share: On Wednesday, the People’s Bank of China (PBOC) fixed the USD/CNY central rate at 7.1765, compared with Tuesday’s fix of 7.1886 and market expectations of 7.1935. The PBOC said that it fixed the 7-day reverse repo rate at 1.90% vs … [Continue reading]