Gold prices jump over 1% after Fed Chair Powell hints at upcoming rate cuts, expressing confidence in inflation nearing the 2% target. The US Dollar Index (DXY) falls 0.82% to 100.68, as Powell’s remarks push traders to bet on a 50 bps rate cut in … [Continue reading]
Mexican Peso strengthens as Powell pivot weighed on US Dollar
Mexican Peso rallies sharply with USD/MXN falling over 2%. Mexico’s economy shows mixed signals, with Q2 GDP growth at 2.1% YoY but a contraction in economic activity, as Banxico debates the appropriateness of recent rate cuts. Powell's speech at … [Continue reading]
Ethereum bulls could stage 30% rally following Fed Chair’s keynote, withdrawing over 284K ETH from exchanges
Ethereum jumped by over 6% after Fed Chair confirmed that the central bank is looking to cut rates. ETH exchange net flows hit a two-month low after buyers moved over 283.9K ETH out of exchanges. Ethereum ETFs extend outflow streak to six … [Continue reading]
SUI, OP, ZETA lead $160 million crypto token unlocks next week
The crypto market will experience a new cliff unlock supply injection next week worth $164.2 million. SUI and Optimism will witness the highest unlock event worth more than $50 million and $40 million, respectively. Ethena, DYDX, YGG and PRIME are … [Continue reading]
NZD/JPY Price Analysis: Sideways consolidation persists, bears to stay cautious
NZD/JPY gained ground on Friday's session, mildly to 89.95. The RSI holds near neutral territory, indicating a balance between buying and selling forces. The MACD shows flat green bars, suggesting that momentum is stabilizing. The NZD/JPY currency … [Continue reading]
XRP trades above $0.60, Ripple whales shed token holdings
Ripple whales holding between 1 million and 10 million XRP tokens slightly decreased their holdings between August 22 and 23. XRP retail traders holding less than 1,000 tokens accumulated the asset, while whales dropped their assets. XRP … [Continue reading]
EUR/USD touches 1.13 after Fed’s Powell signals ready to cut rates
EUR/USD tipped into 1.1300 for the first time in over a year on Friday. Fed policymakers open the door to rate cuts during Jackson Hole. Coming up next week: key EU and US inflation prints. EUR/USD rallied into its second-best day of August, … [Continue reading]
Ethereum buyers gain momentum after Fed Chair speech, moving over 284K ETH from exchanges
Ethereum jumped by over 5% after Fed Chair confirmed that the central bank is looking to cut rates. ETH exchange net flows hit a two-month low after buyers moved over 283.9K ETH out of exchanges. Ethereum ETFs extend outflow streak to six … [Continue reading]
Australian Dollar closes the week strong helped by a weaker USD and a hawkish RBA
AUD/USD soared on Friday after Powell’s words at the Jackson Hole Symposium. Powell hinted that the Fed is ready to cut rates. On the other hand, the RBA is comfortable with restrictive rates, which favors the Aussie. AUD/USD rose by more than 1% to … [Continue reading]
US Dollar closes a losing week as markets grow confident about a dovish Fed
DXY Index declines as investors favor riskier assets following Powell's dovish speech. Powell hinted that the economic outlook is coming closer to the Fed’s goal. Markets have already priced in a September cut. The US Dollar (USD), measured by the … [Continue reading]