Japan Chief Cabinet Secretary Hayashi said on Friday that he expected the Bank of Japan (BoJ) to stably hit its inflation target. Key quotes “Monetary policy falls under the jurisdiction of the BoJ.”"Expect the BoJ to conduct appropriate monetary … [Continue reading]
Bitcoin price rally cools off as UK Judge says Craig Wright is not Satoshi Nakamoto
Bitcoin price retracted to a low of $70,543 on Binance, causing over $250 million in liquidations. A UK judge has determined that Craig Wright is not Satoshi Nakamoto and that he did not create BTC. Sidelined and late investors could have another … [Continue reading]
Buying EUR/GBP when it gets close to 0.8500 – SocGen
EUR/GBP has bounced off 0.8500, again. Economists at Société Générale analyze the pair’s outlook. GBP, along with CHF, will be a favourite European currency short Repeated attempts by EUR/GBP to break below 0.8500 have failed this year, with … [Continue reading]
Oil rallies on US crude stockpile drawdowns
Share: WTI Oil trades up nearly 3% in just two trading days. Oil traders are seeing bullish positioning paying off after US stockpiles unexpectedly declined. The US Dollar Index trades just below 103.00 ahead of US Retail Sales and PPI … [Continue reading]
Forex Today: Major pairs hold steady ahead of key US data
Share: Here is what you need to know on Thursday, March 14: Major currency pairs continue to fluctuate in relatively tight ranges in the second half of the week. After posting small losses on Wednesday, the US Dollar (USD) Index stays calm below … [Continue reading]
Ethereum Dencun Upgrade causes a flurry of L2 restoration related queries
Share: Ethereum’s Dencun Upgrade went live on Wednesday, expected to significantly reduce transaction costs on Ethereum's Layer-2. ARB and LDO are up nearly 5% as part of ETH beta plays. Anonymous crypto user Spreek reports many queries about how … [Continue reading]
US Dollar loses ground as focus turns to PPI and Retails Sales data on Thursday
Share: Incoming data continues to influence easing cycle expectations with June as a potential start. Despite US CPI data intensifying, investor foresight accords more with frail labor market figures. Retail Sales and weekly Jobless Claims figures … [Continue reading]
Canadian Dollar recovers ground on Wednesday as markets await US PPE and Retail Sales
Share: Canadian Dollar pulls back to even against US Dollar midweek. Canada brings little data of note to the table. US PPE, Retail Sales on offer for Thursday. The Canadian Dollar (CAD) found some room on the upside at the midweek inflection … [Continue reading]
EUR/USD Forecast: Cautious buying prevails, resistance at 1.0970
Share: EUR/USD Current price: 1.0938 Financial markets keep rotating around central banks and monetary policies. The Eurozone reported a sharp decline in Industrial Production in January. EUR/USD is poised to resume its advance but still needs to … [Continue reading]
XRP price gains 17% weekly, Ripple CEO addresses whether XRP is the next Bitcoin
Share: XRP price rallied 17% on the weekly time frame and the altcoin sustained above support at $0.6886. Ripple CEO Brad Garlinghouse told Bloomberg Live that there is an opportunity to create value in XRP. Garlinghouse says Ripple has … [Continue reading]