Bitcoin price hit a new all-time high of $76,825 on Thursday, November 7, and continued to consolidate above the $76,000 level on Friday. On-chain data trends show unusually high demand for BTC among US-based traders on Coinbase over the past two … [Continue reading]
Gold falls amid US Dollar surge, traders eye US inflation figures
Gold declines as Trump’s win reduces political risk; focus on potential inflationary policies. US Dollar recovery pressures Bullion despite lower Treasury yields. Powell signals gradual rate adjustments, leaving Fed’s future path open amid economic … [Continue reading]
Dow Jones Industrial Average climbs as consumer sentiment improves
Dow Jones tapped 44,000 for the first time ever on Friday. Equities are extending a near-term bullish push to wrap up the trading week. UoM sentiment survey results came in much better than expected. The Dow Jones Industrial Average (DJIA) rose into … [Continue reading]
EUR/USD drops as traders reassess impact of Trump’s victory
EUR/USD faces significant offers near 1.0800 as the US Dollar resumes its upside trend. Trump’s victory has improved the US Dollar’s long-term outlook. The Euro is down amid Trump tariffs’ threats, German political uncertainty, and doubts over the … [Continue reading]
How strong will the Trump Dollar be? – Commerzbank
The US Dollar may well appreciate somewhat further in the coming weeks and months once the consequences of Trump's election victory have been fully priced in, Commerzbank’s FX analyst Ulrich Leuchtmann notes. Policy of the Trump administration likely … [Continue reading]
USD/INR jumps as equity outflows drag Indian Rupee to all-time low
The Indian Rupee trends lower in Friday’s early European session. The Indian equity selloff and the rise in crude oil prices continue to undermine the INR. The advanced US November Michigan Consumer Sentiment data and Fed Bowman’s speech … [Continue reading]
XRP aims to tackle key trendline resistance as investors step up buying pressure
XRP exchange reserves in Binance and Upbit have declined by nearly $13 million. In the past three days, investors opened over $123 million worth of XRP positions. XRP needs to overcome key descending trendline resistance to stage a rally to $0.6640. … [Continue reading]
Fed’s Jerome Powell: The law does not permit to demote a Fed Chair
Federal Reserve Chairman Jerome Powell explains the decision to reduce the Federal Funds Target Range (FFTR) by 25 basis points to 4.50%-4.75% following the November meeting and answers questions during the subsequent press conference. [embedded … [Continue reading]
BoE: A quarter per quarter – Rabobank
The Bank of England’s MPC cut the benchmark rate by 25bp to 4.75%. This was fully expected by analysts and markets. The vote was split 8-1, with only Mann dissenting, Rabobank’s Senior Macro Strategist Stefan Koopman notes. The next cut to 4.50% to … [Continue reading]
The German coalition goes out with a bang – Commerzbank
Not only was there a political bang in the US yesterday, but also in Germany late last night. After Chancellor Olaf Scholz fired Finance Minister Christian Lindner, the so-called “Ampelkoalition” (a coalition between the Christian Democrats, the … [Continue reading]