Share: BlackRock has revealed a new strategy that could bolster its Bitcoin ETF application. The move involves collaborating with Nasdaq for a surveillance-sharing agreement with an operator of a spot trading platform for Bitcoin. The asset manager … [Continue reading]
Gold, the Chart of the Week: XAU/USD is coiled and breakout eyed
Share: Gold is under pressure while below the daily trendline but bulls eye a break higher. Bears eye $1,930s to open risks of a bearish extension. Gold prices rose for a third-straight session posting a minor gain on Friday although we are at a … [Continue reading]
USD/JPY Price Analysis: Breaks to new YTD highs on USD strength, rising wedge in focus
Share: USD/JPY surges to a YTD high of 141.91, though failure to surpass 142.00 could trigger a sell-off. The rising wedge pattern sparks uncertainty as USD/JPY nears key resistance. Japanese FX intervention may influence future USD/JPY direction. … [Continue reading]
NZD/USD flat on Friday, clinging weekly gains
Share: NZD/USD traded neutral at the 0.6230 area on Friday but set a 1.70% weekly gain. Hawkish Fed speakers and upbeat UoM data gave the USD momentum. Rising US bond yields limited the Greenback's traction. The NZD/USD traded stable at the 0.6210 … [Continue reading]
EUR/USD Price Analysis: Bulls run into resistance, bears eye trendline resistance
Share: EUR/USD bulls eye higher highs but a correction could be on the cards. Bears eye a correction to test trendline support. The euro surged into the 1.0970 mark vs. the US Dollar on Friday, reaching its strongest level since May, … [Continue reading]
Fed: Outlook for funds rate subject to considerable uncertainty
Share: Inflation in the US is well above target and the labor market remains very tight, the US Federal Reserve's recently published monetary policy report to Congress read, ahead of Chairman Jerome Powell's Capitol Hill testimony next week, … [Continue reading]
USD/CHF looks set for a bumpy ride below 0.8900 as SNB policy comes into picture
Share: USD/CHF is expected to resume its downside journey below 0.8900 amid an upbeat market mood. The USD Index is facing the heat as investors are expecting that the Fed might raise interest rates for once only. SNB Jordan believes that this is … [Continue reading]
USD/MXN rebounds from 17.10 follows footprints of USD Index
Share: USD/MXN has displayed a recovery move from 17.10 following positive cues from the USD Index. S&P500 futures have increased losses as investors are hoping that recession fears in the US have not receded. The US economy is operating in a … [Continue reading]
Litecoin price crashing by 24% in two weeks spooks investors into offloading their LTC
Share: Litecoin price has slipped from $95 to trade at $74 at the time of writing, nearing March lows of $69. Investors’ skepticism has resulted in the short-term holders' supply increasing by 4% in a month. Presence on-chain has declined … [Continue reading]
Gold Price Forecast: Falling wedge lures XAU/USD bulls as US Dollar drops on mixed data, softer yields
Share: Gold Price grinds higher after bouncing off the lowest level in three months. Pullback in United States Treasury bond yields, mixed US data weigh on US Dollar and propel XAU/USD. ECB rate hike versus hawkish Fed halt, China news also down US … [Continue reading]