Share: US-based stablecoin issuer Circle announced that it held its money in the now-defunct Silicon Valley Bank. In response to this development, Binance disabled the auto-conversion of USDC to BUSD due to high deposits. Circle's ambiguous … [Continue reading]
US Judge repudiates FTX founder Sam Bankman Fried’s bail condition, new proposal to be submitted
Share: FTX former head has been criticized for attempting to contact former or current FTX employees. US District Judge Lewis Kaplan stated that Sam Bankman Fried was too inventive and would find a way around current conditions. FTT price in the … [Continue reading]
EUR/USD climbs on high inflation data in Germany, as the USD sinks post US NFP
Share: EUR/USD reached a two-week high at 1.0700 and finished the week with minimal gains. Sentiment shifted sour on a default by the Silicon Valley Bank in the US, at the risk of spillover in the sector. US jobs data was mixed but flashed signs of … [Continue reading]
Silver Price Forecast: XAG/USD rallies on traders’ rush to safety
Share: Silver advances more than 2%, set to finish the week almost flat. US jobs data was mixed, but the unemployment rate rose, signaling the cooling labor market. Traders rushed into precious metals, uncertain about next week’s US inflation data, … [Continue reading]
Cardano Price Forecast: ADA eyes 13% drop as crypto markets buckle under bearish pressure
Share: Cardano price tanked 22% in just 20 trading days. ADA bulls are under pressure from bears, who have been successful in squashing any upside attempt. Expect to see the pressure build at $0.30 as another leg lower points to $0.265 as the next … [Continue reading]
GBP/USD: Further weakness emerges below 1.1950 – UOB
Share: In the opinion of Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, GBP/USD risks a deeper pullback once 1.1950 is cleared. Key Quotes 24-hour view: “We did not anticipate the sharp rise in GBP to 1.1940 yesterday (we … [Continue reading]
AUD/JPY bounces off seven-week low as BoJ keeps monetary policy unchanged to bid adieu to Kuroda
Share: AUD/JPY marks 70-pip rebound from multi-day low on BoJ, picking up bids of late. BoJ defends current monetary policy status even as the dovish Governor departs after a decade. Governor Kuroda’s speech, risk catalysts eyed for fresh … [Continue reading]
EUR/USD Price Analysis: Offers seem possible amid lack of strength in recovery near 1.0600
Share: EUR/USD is facing selling pressure in extending its recovery above the supply zone placed in a range of 1.0577-1.0589. An absence of strength in the recovery move from EUR/USD has kept the room open for bears. The RSI (14) is struggling to … [Continue reading]
EUR/USD traders are counting down the clock to critical events
Share: EUR/USD bears are monitoring the price action and are on the lookout for opposing structures to align with. A break above the 78.6% may deter bears from getting heavily involved but the 1.0470s area eyed. Counting down to the Nonfarm … [Continue reading]
USD Index Price Analysis: Further upside looks likely
Share: DXY comes under some selling pressure following new YTD highs. Extra upside continues to target the 200-day SMA. DXY gives away part of recent gains to the vicinity of the 106.00 mark, or new 2023 peaks. The continuation of the rebound in … [Continue reading]