The Japanese Yen appreciates due to a hawkish sentiment surrounding the BoJ. Japan’s Finance Minister Shunichi Suzuki will continue to monitor market developments closely. The US Dollar receives downward pressure due to heightened odds of a … [Continue reading]
Kamala Harris could be turning pro-crypto following White House meeting with crypto leaders
Crypto executives met with White House members to discuss the future of crypto policy. The virtual meeting stirred high tension as crypto executives expressed grievances with the Biden administration. Certain crypto enthusiasts have shown … [Continue reading]
Ripple slapped with $125 million fine, judge says firm could “cross the line” with securities law violations
SEC vs. Ripple lawsuit ends with Judge Torres ruling that Ripple is likely to violate the law with their willingness to push boundaries. Judge slammed Ripple with $125 million in fines for institutional sales of XRP, a federal securities law … [Continue reading]
US Dollar Price Forecast: USD holds steady after strong labor market data
Strong Initial Jobless Claims data triggers the USD, yet aggressive easing might limit the upside. Investors await further clues on the US economy. Markets continue to underestimate the Fed and are confident that it will rush to cut. The US Dollar … [Continue reading]
Gold price steadies on firm Fed rate-cut prospects
Gold’s price hovers near $2,400 as the US Dollar and bond yields correct. The Fed is expected to cut interest rates by more than 100 bps this year. Investors await the US weekly jobless claims data. Gold’s price (XAU/USD) slightly recovers from a … [Continue reading]
NZD/USD trims a part of modest intraday gains after softer NZ inflation expectations data
NZD/USD trades with positive bias for the third straight day, albeit lacks follow-through. A fall in New Zealand's (NZ) two-year inflation expectations caps the upside for the pair. Bets for bigger interest rate cuts by the Fed undermine the USD and … [Continue reading]
Ethereum’s decline could prove slingshot effect following ETF inflows, buy signal across technical indicators
Ethereum ETF investors continue their buying pressure with net inflows of $98.4 million. There's no $2 billion worth of ETH supply waiting to flood the market, claims EmberCN. Ethereum's recent drawdown could be a slingshot effect to new highs. … [Continue reading]
XRP breaks past $0.50 even as Ripple traders dumped holdings at nearly $40 million in losses
Ripple traders shed their holdings at nearly $40 million loss in the crypto market crash on Monday. XRP noted a decline in address activity as traders lost interest after mass sell-off. XRP sustained above $0.50 on August 7, nearly a 10% … [Continue reading]
US Dollar Price Forecast: USD extends recovery while markes continue betting on a dovish Fed
Despite market concerns, the US economy continues to grow above trend. The market anticipates 100 bps of Fed easing by year's end. Wednesday won’t have any economic highlights, market sentiment to dictate the pace. The US Dollar, measured by the DXY … [Continue reading]
EUR/CHF not to trend higher medium-term – Rabobank
The overnight fall in the value of the JPY briefly left the CHF as the best performing G10 currency over the past five sessions this morning. In our view, this is not an accolade that the SNB will have welcomed, Rabobank’s senior FX strategist Jane … [Continue reading]