Indian Rupee remains strong on Thursday amid a softer USD. Indian HSBC Manufacturing dropped to 58.8 in April vs. 59.5 expected. The Fed Chair Powell pushed back against the possibility of rate hikes, exerting selling pressure on the … [Continue reading]
Jack Dorsey’s Block is under investigation by US Prosecutors for crypto lapses, says NBC
Block is under federal investigation for failure to follow compliance practices. Information against the crypto company was leaked by whistle-blowers who are former employees. Block executives say the company did not knowingly break compliance laws. … [Continue reading]
Ethereum attempts recovery from dip amid unchanged interest rates and accusations leveled at SEC Chair
Institutional whales appear to be dumping Ethereum after recent dip. Fed’s decision to leave rates unchanged appears to have helped ETH's price recover slightly. SEC Chair Gensler has misled Congress, considering recent revelations from … [Continue reading]
Gold Price Forecast: XAU/USD battles to extend gains beyond $2,300
XAU/USD Current price: $2,304.57 Market players anticipate a hawkish Federal Reserve's announcement. United States data showed the labor market remained tight in April. XAU/USD recovered the $2,300 mark, but the risk remains skewed to the downside. … [Continue reading]
ADP Employment Change Preview: US private sector expected to create 179K jobs in April
The ADP report is expected to show the US private sector added 179K jobs in April. A tight labour market and sticky inflation support the Fed’s tight stance. The US Dollar seems to have entered a consolidative phase. On … [Continue reading]
Australian Dollar gains ground ahead of Fed interest rate decision
The Australian Dollar gains ground due to improved risk appetite ahead of the Fed decision. The Australian Industry Index indicated prevailing contractionary conditions in private business activity. The US Dollar gained after a stronger Employment … [Continue reading]
Japanese Yen awaits Fed decision before the next leg of a directional move
The Japanese Yen continues to be undermined by the divergent BoJ-Fed policy expectations. Bets that the Fed will keep rates higher for longer, lift the USD, and lend support to USD/JPY. The risk-off impulse underpins the safe-haven JPY and caps gains … [Continue reading]
Ethereum slips below key level as exchange supply drops
While a few whales are dumping ETH following its recent price decline, exchange supply data shows most investors are bullish. Hong Kong spot Bitcoin and Ethereum ETFs underperform issuers' expectations on the first day of trading. Ethereum … [Continue reading]
US Dollar sees green ahead of Fed’s decision
The two-day FOMC meeting kicks off on Tuesday with a hold priced in for Wednesday’s interest rate decision. US consumer sentiment declined in April, while Q1 Employment Cost Index increased. Hawkish bets on the Fed continue to favor the USD. The US … [Continue reading]
EUR/USD falls back on strong US Q1 Employment Cost index
EUR/USD surrenders intraday gains and drops to 1.0700 after strong US Q1 Labor Cost Index. The Eurozone's high inflation and strong Q1 GDP growth fail to provide a sustainable boost to the Euro. The US Dollar is expected to remain … [Continue reading]