Ethereum network fees skyrocketed nearly 60% in the past week as investors returned from holiday. Stablecoin market capitalization on Ethereum reached an 18-month high as ETH eyes recovery. Ethereum could rally to $3,366 if it sustains a move above … [Continue reading]
United States Baker Hughes US Oil Rig Count rose from previous 483 to 485
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]
Pound Sterling gains as soft US PPI boosts Fed 50 bps rate cut bets
The Pound Sterling refreshes weekly high at 1.3150 against the US Dollar as traders raise bets for a Fed 50 bps interest rate cut for next week's meeting. Slowed US annual PPI for August prompted the Fed’s sizable rate cut prospects. Investors … [Continue reading]
WTI flat lines around mid-$68.00s, seems poised to register modest weekly gains
WTI consolidates its recovery gains registered over the past two days amid mixed cues. Concerns about slowing demand in China and the US cap the upside for Crude Oil prices. Dovish Fed-inspired broad-based USD weakness offers support and helps … [Continue reading]
Australian Dollar extends upside due to increased likelihood of a bigger rate cut by Fed
The AUD/USD pair appreciates as US data reinforce the likelihood of an aggressive Fed rate cut next week. The US Producer Price Index rose above expectations, driven by higher service costs. Fed is expected to deliver a 25-basis points interest rate … [Continue reading]
Ethereum sees high selling pressure following potential SEC admission on ETH’s security status
SEC may have confirmed that Ethereum is not a security following eToro's settlement. Ethereum is seeing high selling pressure from investors as exchanges witness 91.4K ETH inflows. Ethereum could rally toward $3,360 if it breaks above the upper … [Continue reading]
Forex Today: An impasse is likely ahead of the FOMC meeting
The Greenback came under renewed downside pressure following further cooling of the US labour market as well as extra signs that disinflationary pressures remained far from abated in August, this time via Producer Prices. Those readings seem to have … [Continue reading]
AUD: Turning points – Rabobank
The AUD is in an interesting position. On one hand it should be able to draw support from the fact that the RBA is one of the most hawkish central banks in the G10. On the other hand, as a commodities exporter, it is vulnerable to concerns about slow … [Continue reading]
EUR/USD: ECB cut is a done deal – OCBC
ECB policy decision is due today (815pm SG time) followed by Lagarde’s press conference (845pm SGT). Softer CPI prints out of Euro-area, Germany and Spain and softer mfg PMI readings added to expectation that ECB should be on course to lower rate … [Continue reading]
Silver Price Forecast: XAG/USD holds ground above $28.50 ahead of ECB decision, US data
Silver price holds gains ahead of the ECB interest rate decision scheduled for Thursday. ECB is highly expected to lower rates to 4.0% by implementing a 25 basis points rate cut. August’s US Consumer Price Index data have increased the odds of a … [Continue reading]