USD/CAD gains some positive traction on Wednesday, though lacks follow-through. A further recovery in crude oil prices underpins the Loonie and acts as a headwind. Bearish USD further contributes to capping gains ahead of the key FOMC decision. The … [Continue reading]
VanEck investment giant believes Bitcoin price could hit $12,000 with a wave of miner bankruptcies
VanEck, an investment giant, believes Bitcoin miners will go bankrupt despite a slowdown in the Federal Reserve’s liquidity tightening measures. This goes against the overall outlook on Bitcoin which turned bullish after the US inflation report … [Continue reading]
EUR/USD retreats towards 1.0600 despite upbeat options market signals
EUR/USD renews intraday low near 1.0600 as it pares the biggest daily jump in a fortnight around a six-month high heading into Wednesday’s European session. In doing so, the Euro braces for the US Federal Open Market Committee (FOMC) monetary … [Continue reading]
New Zealand sees three quarters of negative GDP growth in CY23
In the Half Year Economic and Fiscal Update, the New Zealand Treasury has forecasted three-quarters of a shrinking economy starting in the second quarter of 2023. Key notes Lifts planned bond issuance by nz$18bln over 4 years. Forecasts … [Continue reading]
NZD/USD is creeping lower into the closing hours of Wall Street
NZD/USD bears move in as profit-taking ensues. The markets will look to he the NZ Half Year Economic and Fiscal Update on Wednesday and the Fed. NZD/USD is higher by some 1.29% on the day as the markets take profits following a volatile … [Continue reading]
USD/JPY falls more than 250 pips after US CPI
US inflation slows more than expected in November. Japanese yen soars across the board following the report. USD/JPY drops below 135.00 to one –week lows. The USD/JPY collapsed after the release of US inflation data. The pair dropped from 137.60 to … [Continue reading]
BOE: Financial pressures on UK companies expected to rise in 2023
In its latest Financial Stability Report, the Bank of England (BOE) said that financial pressures on UK companies, especially for smaller firms, are expected to rise in 2023. Additional takeaways as summarized by Reuters "Risk of global debt … [Continue reading]
USD/JPY treads water below 138.00 as US Dollar, Treasury bond yields struggle ahead of US inflation
USD/JPY remains sidelined after rising to an eight-day high. Treasury bond yields snap four-day uptrend, US Dollar stays depressed. Mixed concerns surrounding US CPI, challenges for BOJ’s pivot restrict immediate USD/JPY moves. USD/JPY traders … [Continue reading]
Gold Price Forecast: XAU/USD shines above $1,780 amid volatile US Dollar, spotlight is on US CPI
Gold price has sensed decent demand after dropping below $1,780.00 as the US Dollar has turned volatile. S&P500 futures recovered vigorously as investors shrugged off inflation expectations-inspired uncertainty. A decline in US one-year inflation … [Continue reading]
Shiba Inu price remains bound to a downtrend under these on-chain metrics
Shiba Inu price declined by 8% before quickly producing a countertrend defense. On-chain metrics show exchanges have increased the SHIB supply by 5 trillion tokens. A breach above $0.00000932 is needed to consider aiming for bullish … [Continue reading]