Share: AUD/USD holds positive ground around 0.6420 amid the weakening US Dollar. Market players are increasing their bets on additional rate rises by Federal Reserve (Fed). The People’s Bank of China (PBoC) slashed its Loan Prime Rate (LPR) for one … [Continue reading]
US Dollar Index: DXY retreats towards 103.00 despite strong yields, focus on mid-tier US data, central bankers
Share: US Dollar Index stays pressured for the second consecutive day after reversing from 10-week high on Friday. US Treasury bond yields jump to late 2007 high as market players sell government securities amid mixed mood. Market’s consolidation … [Continue reading]
GBP/USD rebounds on risk appetite improvement, BoE’s rate hike expectations
Share: GBP/USD rises 0.22% as market sentiment remains upbeat, with NVIDIA earnings and BoE rate hike prospects in focus. Interest rate differential between the US and UK narrows, potentially pushing GBP/USD towards the YTD high of 1.3147. … [Continue reading]
Some reduction in USD exposure ahead of Jackson Hole – Scotiabank
Share: The USD is slightly softer overall to start the week off. Economists at Scotiabank analyze Greenback’s outlook. Markets look to Jackson Hole It’s a very light week for data which may mean that markets will consolidate somewhat ahead of … [Continue reading]
US Dollar in calm mode as traders keep eyes on Jackson Hole
Share: US Dollar price action expected to remain fairly muted with little waves during the week. Traders will try to keep their powder dry for the main event on Friday with US Fed Chair Powell's speech at Jackson Hole. The US Dollar Index … [Continue reading]
EUR/USD recovers some lost ground near 1.0880 ahead of German PPI
Share: EUR/USD recovers some lost ground near 1.0800 ahead of German economic data. The easing Eurozone inflation data alleviated pressure on the European Central Bank to continue rates hike. Investors raise their bets on more rate hikes by the … [Continue reading]
Gold Price Forecast: XAU/USD kicks off the week in a consolidation around $1,890
Share: Gold price consolidates as an effect of declined US yields and risk aversion. Upbeat US economic data prompts a cautious market sentiment. PBoC reduced interest rates by 10 bps against the expected 15 bps. Gold price struggles to snap a … [Continue reading]
Bitcoin CME gaps at $35,000, $27,000 and $21,000, which one gets filled first?
Share: Bitcoin CME gaps exist due to the lack of trading on CME on weekends. These gaps have become self-fulfilling prophecies that are often rebalanced. There gaps currently exist, $35,000, $27,000 and $21,000. Bitcoin (BTC) futures product was … [Continue reading]
Coinbase Layer 2’s friend.tech overtakes Tron and Uniswap in 24-hour fees
Share: Coinbase’s Layer 2 protocol BASE has become extremely popular of late due to the new projects launched on it. Friend.tech, a Paradigm-backed project, has beat the likes of Tron, Uniswap, Bitcoin and other popular DeFi projects in total fees … [Continue reading]
SEC could approve multiple Ether ETFs soon while delaying Bitcoin spot ETFs
Share: The US SEC could green-light multiple Ether futures, according to a recent Wall Street Journal report. If approved, it would be the first Ether futures ETF in the United States to track Ethereum price. This decision comes as the SEC delays … [Continue reading]