The US Consumer Price Index is forecast to rise 3.4% YoY in May, at the same pace as in April. Annual core CPI inflation is expected to inch lower from 3.6% in April to 3.5% in May. The inflation data could impact the US Dollar value and the … [Continue reading]
Sushiswap incorporates Sushi Labs to replace existing DAO
Sushiswap has announced the release of its new governing system, Sushi Labs. Sushi Labs will replace the previous DAO structure with a new council structure. SUSHI is down 6% amid a general crypto market dump. Sushiswap (SUSHI) revealed a change in … [Continue reading]
Forex Today: The Dollar looks bid ahead of US CPI, Fed
The Greenback extended its promising start to the week and kept the risk complex under pressure on Tuesday as market participants continued to evaluate political jitters in Europe and pre-FOMC cautiousness started to kick in. Here is what you need to … [Continue reading]
AUD/USD stabilizes near 0.6600 albeit uncertainty ahead of US CPI and Fed’s decision
AUD/USD holds ground slightly below 0.6600 while the outlook remains uncertain. The Fed is expected to hold interest rates steady for the seventh straight time. The Australian Dollar will dance to the tunes of the Employment data. The AUD/USD pair … [Continue reading]
Japanese Yen remains subdued as BoJ is expected to maintain its current policy in June
The Japanese Yen edges lower as the BoJ is expected to maintain its current interest rates on Friday. The stable Japanese equity market has undermined the JPY. The US Dollar holds ground due to reduced odds of the two Fed rate cuts in 2024. The … [Continue reading]
Netherlands, The Consumer Price Index n.s.a (YoY) meets expectations (2.7%) in May
Gold price gained some positive traction on the first day of a new week and reversed a part of Friday's post-NFP slump to the $2,287-2,286 area, or over a one-month low. The uptick, however, remains capped in the wake of a bullish US Dollar, … [Continue reading]
Ethereum could see a bullish reversal following its Q1 earnings surpassing those of Robinhood, Etsy and Reddit
Ethereum ecosystem generated more revenue in Q1 than Etsy, Robinhood or Reddit. Issuers plan to market Ethereum as a 'producing tech stock' and the 'ultimate app store’. Ethereum could see a bullish reversal in the coming days. Ethereum's (ETH) … [Continue reading]
EUR/JPY Price Analysis: Support holds strong at 168.00 and clears losses
The daily RSI remains settled in the negative territory, with the daily MACD displaying flat red bars reflecting stable bearish momentum. The pair finds steady support near 168.00, stabilizing at 168.80 beyond the session's low at 168.15. The … [Continue reading]
GBP/USD Price Analysis: Consolidates around 1.2700 after hitting 7-day low
GBP/USD slightly down for the second session in a row. Technicals indicate losing buyer momentum as RSI approaches the 50-midline. A drop below 1.2700 could push GBP/USD towards key moving averages near 1.2686 and potentially lower. Upside seen above … [Continue reading]
Pound Sterling declines below 1.2700 as Fed rate-cut hopes wane, UK/US data in focus
The Pound Sterling drops to 1.2700 as delayed Fed interest rate-cut prospects dampen market sentiment. The strong US NFP report for May hit market speculation for Fed rate cuts. This week, investors will focus on UK Employment, US CPI, and the Fed’s … [Continue reading]