Gold price soars to all-time high of $2,225, defying rising Treasury yields and a robust US Dollar. Fed Governor Waller's hawkish comments and upbeat US data were no excuse for the advance in Gold and the US Dollar. Market anticipation builds for the … [Continue reading]
Mexican Peso retreats as USD/MXN rises on Fed’s hawkish signals, strong US data
Mexican Peso slips from multi-year lows, reacting to optimistic US growth figures and labor market resilience. Strong US GDP growth in Q4 2023 and a robust labor market boosted the US Dollar, a headwind for the Mexican currency. Fed’s Waller remains … [Continue reading]
US Dollar retreats off the highs with uptick Continuing Claims taking the wind out of the rally
The US Dollar extends its rally to a three-day winning streak. Traders are diving into the Greenback on Fed’s Waller hawkish tilt. The US Dollar Index jumps to a new high for March. The US Dollar (USD) retreats from its … [Continue reading]
Ethereum sees spike in gas fees as inscriptions debut on blobs
Ethereum blobs create inscriptions at a record rate in the last two days. Nearly 40% of blobs account for Blobscriptions, similar to Ordinals on Bitcoin. ETH price gained 2% on the day. Ethereum’s (ETH) temporary and cost-effective … [Continue reading]
Australian Dollar moves sideways amid a stable US Dollar, US economic data awaited
Australian Dollar turns tepid amid a risk aversion sentiment on Thursday. Australia’s Retail Sales (MoM) increased by 0.3%, against the expected 0.4% and 1.1% prior. US Dollar corrects ahead of US GDP Annualized data due on Thursday. The Australian … [Continue reading]
GBP/USD attracts some sellers below 1.2620 on Fed Waller’s hawkish comments
GBP/USD remains under pressure around 1.2614 following hawkish comments from Fed’s official on Thursday. Fed’s Waller said there is no rush to cut the rate and may need to maintain the current rate for longer than expected. The dovish comments … [Continue reading]
Bitcoin price defends $69K amid rumors of Morgan Stanley approving BTC ETFs on its platform
Bitcoin price is holding well above $69,000 threshold despite analysts speculating bearish calls. Rumors have it that Morgan Stanley will approve BTC ETFs on their platform soon. Bitcoin nears a big sell wall with rising open interest signaling … [Continue reading]
Gold price remains buoyant on firm Fed rate cut projections
Gold price jumps higher as expectations that the Fed will cut interest rates in June remain firm. The Fed appears confident that inflation is easing toward the 2% target. Investors await the US core PCE inflation for fresh guidance. Gold price … [Continue reading]
Dollar crosses to keep stabilising until Friday’s US PCE – ING
FX markets are still struggling to find direction. Economists at ING analyze Dollar’s outlook. Keep an eye on a speech by the Fed’s Christopher Waller Today, monthly wholesale sales and inventory revisions are the only data releases on the calendar … [Continue reading]
BoJ’s Tamura: Can’t say decisively now how much BoJ wll hike rates
Bank of Japan (BoJ) board member Naoki Tamura is back on the wires, via Reuters, on Wednesday, making some comments on the central bank’s interest rate outlook. Key quotes We will set short-term rates at appropriate level while scrutinising … [Continue reading]