Bitcoin and Ethereum correct on Tuesday, dropping more than 2% each. Data from OKX and Binance show a slowdown in retail activity, lower than past bull markets and even the 2019-2020 bear market. XRP dips under $0.6200 support, trades at $0.6111. … [Continue reading]
GBP/USD: GBP is stalled in low 1.34s – Scotiabank
The Pound Sterling (GBP) is trading lower on the session, tracking the broader tone of the US Dollar (USD), Scotiabank’s Chief FX Strategist Shaun Osborne notes. Rrisk of easing further on the break of 1.3313 support “UK Manufacturing PMI was left … [Continue reading]
EUR/USD Forecast: Euro loses bullish momentum ahead of US data
EUR/USD retreated below 1.1150 after failing to break above 1.1200. The near-term technical outlook points to a loss of bullish momentum. Macroeconomic data releases from the US could drive the pair's action later in the day. EUR/USD started the new … [Continue reading]
AUD/JPY sticks to modest gains, remains below 200-day SMA hurdle near 100.00 mark
AUD/JPY draws support from a combination of factors and moves back closer to a two-month top. Ishiba's comments about BoJ rate hikes overshadow upbeat domestic data and undermine the JPY. The stronger Australian Retail Sales data boosts the Aussie … [Continue reading]
USD/CAD trades stronger above 1.3500 as Fed’s Powell signals a slow approach to rate cuts
USD/CAD trades firmer around 1.3525 in Tuesday’s early Asian session. Fed’s Powell said the central bank will lower interest rates “over time.” The Canadian economy expanded by 0.2% MoM in July, faster than expected; advance estimate indicated … [Continue reading]
Dow Jones Industrial Average eases lower on soft Monday
The Dow Jones huddled close to 42,000 to kick off the new week. Investors are awaiting key US labor data due on Friday. Despite quiet Monday, the Dow Jones is coming off a winning month. The Dow Jones Industrial Average (DJIA) was hamstrung at … [Continue reading]
Bitcoin corrects lower after facing resistance barrier
Bitcoin tumbles below $64,000, erasing most of the prior week’s gains. Coinbase’s weekly report anticipates a constructive Q4 for Bitcoin due to US interest-rate cuts and China’s supporting economic policy. Historically, October has been strong … [Continue reading]
EUR/USD: Likely to trade between 1.1130 and 1.1195 – UOB Group
The Euro (EUR) is expected to trade in a range, likely between 1.1130 and 1.1195. In the longer run, EUR has likely entered a range trading phase, probably between 1.1060 and 1.1215, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note. Has to … [Continue reading]
Japanese Yen pauses recent rally due to dovish comments from upcoming PM Ishiba
The Japanese Yen weakened as upcoming PM Shigeru Ishiba said that the monetary policy should continue to be accommodative. Japan's Retail Trade rose by 2.8% YoY in August, surpassing the expected 2.3% rise. August’s US Core PCE Price Index MoM has … [Continue reading]
PBoC moves to cut mortgage rates by end-October
The People's Bank of China (PBOC) said on Sunday that it would tell banks to lower mortgage rates for existing home loans before October 31 in its latest attempt to shore up the troubled property sector as the economy slows, per … [Continue reading]