Ethereum has seen nearly a 5x growth in monthly active addresses since 2022, reaching 7.6 million. Insights from Glassnode show that Ethereum has underperformed Bitcoin in terms of price performance since the recent bull cycle began. Ethereum will … [Continue reading]
Fed’s Bowman: I don’t see rate cuts as warranted this year
Federal Reserve (Fed) Board of Governors member Michelle W. Bowman noted that she is skeptical about the chances of a rate cut in 2024 while speaking at the Texas Bankers Association Annual Convention in Arlington, Texas. Key highlights I don't see … [Continue reading]
India FX Reserves, USD rose from previous $637.92B to $641.59B in April 29
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or … [Continue reading]
XRP tests support at $0.50 as Ripple joins alliance to work on blockchain recovery
Ripple and XRPL Labs have joined the DeRec Alliance as founding members. The DeRec Alliance brings Web3 firms together to work on the recovery of digital assets in a secure manner across wallets. XRP tested support at $0.50 on Thursday, … [Continue reading]
Australian Dollar pulls back due to an upward correction in the US Dollar
The Australian Dollar retreated due to the improved US Dollar on Friday. The Australian Dollar is facing pressure due to the less hawkish stance of the RBA on monetary policy. The US Dollar rebounded due to the hawkish Fed to maintain higher interest … [Continue reading]
EUR/GBP churns near 0.8600 as central banks dominate headlines
EUR/GBP jostled after BoE rate cote steps towards cuts. Officials from both central banks insist progress is being made. Friday to wrap up the trading week with UK GDP. EUR/USD cycled within familiar levels on Thursday as the pair’s respective … [Continue reading]
Mexican Peso edges up as inflation reaccelerates ahead Banxico’s decision
Mexican Peso strengthens as the USD/MXN drops 0.21%, following April’s hot inflation report Consumer Price Index data shows prices remain above Banxico’s target range, hinting it may hold rates at 11.00%. USD/MXN traders’ eye upcoming decisions from … [Continue reading]
USD/JPY grinds higher on US exceptionalism, weak Japanese data
USD/JPY pushes relentlessly higher as market forces overcome intervention attempts. The US Dollar is strengthening across the board as interest rates in the US diverge from the global trend. Weak Japanese wage data puts a dent in BoJ plan … [Continue reading]
BoE Interest Rate Decision: Declining UK inflation no match for bank’s commitment to status quo
UK central bank is seen keeping its policy rate intact at 5.25%. Bank of England is seen reducing its rates by 75 bps this year. GBP/USD should maintain its recent familiar range in the wake of the event. The Bank of England (BoE) … [Continue reading]
Australian Dollar holds ground after Chinese import data shows rise in April
The Australian Dollar could extend its losses due to the less hawkish stance of the RBA. Australian Retail Sales declined in the first quarter, swinging from the previous quarter’s growth. The US Dollar rose due to expectations of the … [Continue reading]