XRP exchange reserves in Binance and Upbit have declined by nearly $13 million. In the past three days, investors opened over $123 million worth of XRP positions. XRP needs to overcome key descending trendline resistance to stage a rally to $0.6640. … [Continue reading]
Fed’s Jerome Powell: The law does not permit to demote a Fed Chair
Federal Reserve Chairman Jerome Powell explains the decision to reduce the Federal Funds Target Range (FFTR) by 25 basis points to 4.50%-4.75% following the November meeting and answers questions during the subsequent press conference. [embedded … [Continue reading]
BoE: A quarter per quarter – Rabobank
The Bank of England’s MPC cut the benchmark rate by 25bp to 4.75%. This was fully expected by analysts and markets. The vote was split 8-1, with only Mann dissenting, Rabobank’s Senior Macro Strategist Stefan Koopman notes. The next cut to 4.50% to … [Continue reading]
The German coalition goes out with a bang – Commerzbank
Not only was there a political bang in the US yesterday, but also in Germany late last night. After Chancellor Olaf Scholz fired Finance Minister Christian Lindner, the so-called “Ampelkoalition” (a coalition between the Christian Democrats, the … [Continue reading]
Japanese Yen struggles to capitalize on modest intraday gains; not out of the woods yet
The Japanese Yen draws support from fears about a possible government intervention. The BoJ rate-hike uncertainty and the risk-on environment should cap the safe-haven JPY. Elevated US bond yields could act as a tailwind for USD/JPY ahead of … [Continue reading]
Japan’s Top FX Diplomat Mimura: Closely watching FX moves with a high sense of urgency
Atsushi Mimura, Japan’s Vice Finance Minister For International Affairs and top foreign exchange official, said on Thursday, he is “closely watching FX moves with a high sense of urgency.” He added that he is “ready to take appropriate actions for … [Continue reading]
Crypto Today: All Bitcoin holders in profit, TRON partners with Chainlink, DOGE miners in $145M buying spree
Bitcoin price reached a new all-time high of $75,120 on November 6 as markets reacted to Donald Trump’s victory in the 2024 US presidential election. The global cryptocurrency sector valuation (TOTALCAP) grew by $190 billion (7.31%) within the daily … [Continue reading]
Gold Price Forecast: XAU/USD pares losses, consolidates around $2,660
XAU/USD Current price: $2,666.19 Former President Donald Trump won the 2024 presidential election. The Federal Reserve will announce its decision on monetary policy on Thursday. XAU/USD trades near its daily low, more slides likely despite near-term … [Continue reading]
Bitcoin Price Forecast: BTC soars to a new all-time of $75,407 as Trump wins US presidential election
Bitcoin price today:$73,200 Bitcoin soars to a new all-time high of $75,407 on Wednesday as Trump wins the US presidential election. The technical outlook suggests that BTC’s next target could be the 141.40% Fibonacci extension level above $78,000. … [Continue reading]
USD/JPY Price Forecast: US election-led rally beyond 154.00 sets the stage for additional gains
USD/JPY jumps to a multi-month top as the Trump enthusiasm provides a strong boost to the USD. Surging US bond yields, the risk-on environment and the BoJ uncertainty weigh heavily on the JPY. The supportive fundamental backdrop and the … [Continue reading]