Share: Bitcoin price stood virtually unchanged above $30,000 following the release of CPI, while the USD index noted selling pressure falling to 101.6. Berkshire Hathaway CEO Warren Buffet labeled Bitcoin a "gambling token" after previously calling … [Continue reading]
Stronger US CPI print poses upside risks for the USD, but recovery potential is limited – MUFG
Share: The major foreign exchange rates have remained relatively stable ahead of the release later today of the latest US CPI report for March. A strong print could provide a boost to the greenback, but the upside potential is limited, economists at … [Continue reading]
NZD/USD struggles to capitalize on recovery from multi-week low, remains below 0.6200
Share: NZD/USD stages a modest bounce from a nearly four-week low touched earlier this Wednesday. A modest USD weakness lends some support, though looming recession risks act as a headwind. Investors also seem reluctant ahead of the crucial US CPI … [Continue reading]
Gold Price Forecast: XAU/USD soars above $2,010 as Fed policymakers see quick US Inflation softening
Share: Gold price has climbed above $2,010.00 firmly as Fed policymakers are anticipating a quick deceleration in the US CPI. Fed minutes will be in focus as they will provide a detailed explanation behind the 25 bps rate hike in March. Gold price … [Continue reading]
Ethereum investors switch to this strategy as validators suffer $4.7 billion worth of losses
Share: Ethereum holders sold over 70,000 ETH worth $113 million as the altcoin shot up by 12%. Ethereum validators that have staked since December 2020 currently face unrealized losses of $4.7 billion. Depositors with over 500 validators share 76% … [Continue reading]
XRP may not bear an impact as terrible as other altcoins would, even if Ripple loses the SEC lawsuit
Share: Ripple vs. SEC is set to come to a conclusion over the next two months, with Judge Torres expected to rule in the crypto company’s favor. Banks have remained unbothered by the lawsuit, continuing to partner with Ripple, proving the project’s … [Continue reading]
GBP/USD eases from daily peak, still well bid above 1.2400 amid broad-based USD weakness
Share: GBP/USD gains strong positive traction on Tuesday and snaps a four-day losing streak. A positive risk tone prompts some selling around the safe-haven USD and lends support. Bets for more Fed rate hikes should help limit the USD losses and … [Continue reading]
Yen only likely to appreciate long-term if there is early move away from current monetary policy – Commerzbank
Share: We were able to experience the new governor of the Bank of Japan (BoJ), Kazuo Ueda, in his new role for the first time yesterday. Everything remains unchanged. That was JPY-negative initially. Ulrich Leuchtmann, Head of FX and Commodity … [Continue reading]
Gold Price Forecast: XAU/USD set to take out key resistance at $2,007, focus shifts to US inflation
Share: Gold price rebounds toward $2,000, snapping a three-day downtrend. Risk-on sentiment and pullback in US Treasury bond yields check the US Dollar rally. Gold price defends key support, awaits Fedspeak and United States Consumer Price … [Continue reading]
Silver Price Analysis: XAG/USD bulls run out of steam, sellers need validation from $24.30
Share: Silver price stays depressed after downbeat week-start, grinds near highest levels in a year. Overbought RSI conditions, receding bullish bias of MACD signals lure bears. Failure to cross ascending resistance line from late 2022 adds … [Continue reading]