EUR/USD Edges Higher Following ECB Rate Hike Central banks are pumping percentage points into their respective interest rates and it looks like they are not going to stop until deflationary signs emerge. Last week the ECB added 75 bps to the interest rate, bringing it up to 2.00%, while the US Dollar is gearing up […]
DOGE Shows Revival Signs as Musk’s Twitter Acquisition Concludes. After months of trading sideways, the meme coin DOGE is finally showing bullish signs, buoyed by Elon Musk’s Twitter takeover. The Shiba Inu-themed coin jumped from $0.063 to a whopping $0.085 in just three days and is currently trading at $0.074. Many people seem to attribute […]
EUR/USD at Resistance Ahead of Key Data for Both Currencies A speech delivered Friday by San Francisco Fed President Mary Daly sparked speculation that the Fed is preparing for a pivot in its monetary policy. This loosened the US Dollar’s clinch on the Euro and other major counterparts but we shouldn’t expect an immediate policy […]
Bitcoin Turns Into a Loaded Spring. BB Squeeze in Play. Ripple Labs scored a new victory in their legal case versus the SEC but despite this, XRP’s price dropped as low as $0.4225 after previously trading at $0.4650. The Hinman documents – as they are widely known – have finally landed in Ripple counsel’s laps. […]
USD/JPY Prints Fresh 32-year High, EUR/USD Lifts off Lows. The inflation data released last week exceeded expectations once more, showing that the Fed’s efforts are unsuccessful at least until now. Despite an aggressive pace of the rate hikes, the CPI increased 0.4% from the previous 0.1% and the Core CPI posted a 0.6% change, surpassing […]
Red-Hot Inflation Fails to Create New Lows. Is a Bottom in Place? Thursday, despite higher inflation numbers posted by both versions of the CPI (headline and core), the crypto market made a dramatic recovery. The initial market reaction was “normal”: if the CPI exceeds expectations, then the Fed will increase the rate more aggressively and […]
EUR/USD Bounces at Resistance Ahead of Key Inflation Data. Once again, the U.S. Non-Farm Payrolls report exceeded expectations last week, showing that 263K new jobs were created during the previous month. The forecast was relatively close, at 248K but the reading shows that the labour market is not slowing down, which strengthens the case for […]
BNB Sinks into Support Following Massive Hack. Earlier today, Binance’s proprietary Binance Smart Chain suffered a cybernetic attack that resulted in the loss of 2 million BNB, worth over $500 million. Before the hack, BNB was trading around 297 against the US Dollar and was trending up since September 19; at the time of writing […]
EUR/USD Finds Temporary Support Despite Red-Hot U.S. Inflation. NFP Next. Accelerating inflation remains a big problem in the United States and the Eurozone, as evidenced by last week’s European CPI and U.S. Core PCE Index. The Eurozone Consumer Price Index accelerated to 10.0% in September, bringing forth the expectation of another huge ECB rate hike. […]
Bitcoin and Ethereum Geared Up for Fresh Rallies. XRP Shoots Up 15% Ripple Labs scored a major victory against the SEC in their legal clash and XRP was quick to react, bursting more than 15% to the upside, to a high of 0.5094. Some of the gains were erased as XRP/USD retraced and is currently […]