Ethereum ETF sees $48.6 million in outflows amid growing Middle East war. Ethereum exchange net outflow suggests investors may be buying the dip. Ethereum could bounce off the $2,395 support level as funding rates have remained largely positive. … [Continue reading]
China: Lift to GDP forecast after leaders draw line in the sand – Danske Bank
Following the big stimulus and clear growth message from Chinese leaders, we revise up our China growth forecast in 2025 from 4.8% to 5.2%. For 2024 we keep our 4.8% forecast, Danske Bank’s analyst Allan von Mehren notes. All clear to go for growth … [Continue reading]
NZD: Peering around corners – Rabobank
In view of expectations that further rate cuts are on the cards from the Fed, the ECB and various other G10 central banks during Q4, the impact of RBNZ policy easing on the NZD crosses will likely be offset, Rabobank’s FX strategist Jane Foley notes. … [Continue reading]
EUR/JPY Price Forecast: Bearish outlook remains intact below 159.00
EUR/JPY weakens to near 158.80 in Wednesday’s early European session, down 0.06% on the day. The negative outlook of the cross prevails, with the bearish RSI indicator. The immediate resistance level emerges at 161.80; the first support … [Continue reading]
Japanese Yen edges lower due to rising confusion over BoJ policy outlook
The Japanese Yen loses ground as the BoJ’s Summary of Opinions signals its intention to maintain an accommodative monetary stance. The JPY struggled as Japan's upcoming PM Ishiba stated the need to maintain low rates to help economic recovery. The US … [Continue reading]
Dow Jones Industrial Average shudders as Middle East escalation continues
The Dow Jones shed over 300 points on Tuesday, with geopolitical tensions on the rise. Equities are slowly bouncing back but remain mired in the low side. Meager US ISM data did little to provide support for investors. The Dow Jones Industrial … [Continue reading]
Crypto Today: Bitcoin, Ethereum slide lower alongside declining inflows to exchanges
Bitcoin and Ethereum correct on Tuesday, dropping more than 2% each. Data from OKX and Binance show a slowdown in retail activity, lower than past bull markets and even the 2019-2020 bear market. XRP dips under $0.6200 support, trades at $0.6111. … [Continue reading]
GBP/USD: GBP is stalled in low 1.34s – Scotiabank
The Pound Sterling (GBP) is trading lower on the session, tracking the broader tone of the US Dollar (USD), Scotiabank’s Chief FX Strategist Shaun Osborne notes. Rrisk of easing further on the break of 1.3313 support “UK Manufacturing PMI was left … [Continue reading]
EUR/USD Forecast: Euro loses bullish momentum ahead of US data
EUR/USD retreated below 1.1150 after failing to break above 1.1200. The near-term technical outlook points to a loss of bullish momentum. Macroeconomic data releases from the US could drive the pair's action later in the day. EUR/USD started the new … [Continue reading]
AUD/JPY sticks to modest gains, remains below 200-day SMA hurdle near 100.00 mark
AUD/JPY draws support from a combination of factors and moves back closer to a two-month top. Ishiba's comments about BoJ rate hikes overshadow upbeat domestic data and undermine the JPY. The stronger Australian Retail Sales data boosts the Aussie … [Continue reading]