Ethereum restaking protocol Renzo took a huge hit after its restaked ETH failed to maintain a 1:1 ratio with ETH. While Franklin and Grayscale have seen the SEC postpone its decision on their application, BlackRock amended its spot ETH ETF filing. … [Continue reading]
EUR/USD Forecast: Not out of the woods yet
EUR/USD faltered once again above the 1.0700 hurdle. The Dollar staged a decent rebound amidst higher yields. The focus now shifts to USD Q1 GDP and PCE. The bullish performance of the US Dollar (USD) sparked a mild knee-jerk in EUR/USD, which … [Continue reading]
EUR/USD Forecast: US data missed again, bad news that are good news?
EUR/USD Current price: 1.0682 The German IFO Survey surprised positively in April, all components improved. March US Durable Goods Orders missed expectations despite improving on a monthly basis. EUR/USD seems poised to resume its slide after a … [Continue reading]
EUR/USD Forecast: Euro struggles to build on Tuesday’s gains
EUR/USD edged lower to the 1.0700 area in the European morning on Wednesday. The near-term technical outlook remains slightly bullish. US economic docket will feature Durable Goods Orders data for March. EUR/USD stays in a consolidation phase at … [Continue reading]
Gold price struggles to lure buyers amid positive risk tone, reduced Fed rate cut bets
Gold price lacks follow-through buying and is influenced by a combination of diverging forces. Easing geopolitical tensions continue to undermine demand for the safe-haven precious metal. Tuesday’s dismal US PMIs weigh on the USD and lend support … [Continue reading]
Australia CPI Forecast: Inflation expected to make further progress toward RBA target band
The Australian Monthly Consumer Price Index is foreseen steady at 3.4% YoY in March. Quarterly CPI inflation is expected to have ticked higher in the first quarter of the year. The Reserve Bank of Australia is confident the economy would dodge a hard … [Continue reading]
Dow Jones Industrial Average climbs after US PMI miss reignites rate cut hopes
Dow Jones tests 38,500.00 as US equities climb. US PMIs weakened, bolstering hopes for a Fed rate trim. Key US GDP and PCE inflation data still on the table for the week. The Dow Jones Industrial Average (DJIA) climbed on Tuesday after US Purchasing … [Continue reading]
Gold price weakens as Middle East tensions ease, weak US PMI provides some relief
Gold price bounces back from $2,300 as US Dollar edges down after weak PMI data for April. Both US Manufacturing and Services PMI surprisingly drop from their prior readings. The Fed supports keeping interest rates higher until there is … [Continue reading]
XRP climbs above $0.55 as Ripple slams SEC for seeking $2 billion in penalties
Ripple filed its response to the SEC lawsuit on Monday, arguing that XRP institutional sales before and after the court ruling show no disregard for the law. The firm asks for a civil penalty of no more than $10 million against the $2 billion … [Continue reading]
EUR/USD Price Analysis: Tests the major level of 1.0650; followed by the nine-day EMA
EUR/USD remains tepid around the major level amid a bearish sentiment. A breach below the 1.0600 level may lead the pair toward November’s low at 1.0517. The nine-day EMA at 1.0675 appears as the immediate barrier. EUR/USD remains lackluster during … [Continue reading]