Dollar Inches Higher, by Bogdan Giulvezan, The greenback started the week on a firm footing, boosted by renewed hopes that the Fed will start tapering asset purchases sooner rather than later. The US Dollar Index (DXY), which measures the performance of the dollar against a basket of major currencies, climbed to 92.880 on Monday, a […]
El Salvador Adoption Triggers Flash Crash. Bitcoin Still in Limbo by Bogdan Giulvezan After a few weeks of recovery and bullish action, Bitcoin and the entire crypto market went through a flash crash. The apparent reason: Bitcoin’s bumpy rollout as legal tender in El Salvador. According to CoinMarketCap, the crypto market wiped out about $330 […]
NFP Disappoints, Fed Tapering May Be Delayed Last Friday’s Non-Farm Payrolls report delivered a big blow to the US Dollar, as it showed that only 235,000 new jobs were created, compared to the median forecast of 728,000. The disappointing numbers were attributed to an increase in COVID-19 cases, which weighed on the leisure sector as […]
Bitcoin On Track For New Highs by Bogdan Giulvezan Since August 21, Bitcoin has been moving completely sideways, in a “one up – one down” pattern. Almost every bullish day was followed by a bearish one and vice-versa. In the “traditional” Forex market, this behavior is usually followed by a strong breakout and thus far, […]
Greenback Takes a Dive; NFP Eyed for Tapering Clues by Bogdan Giulvezan In a long-awaited speech delivered Friday, Fed Chair Jerome Powell adopted a more dovish tone than most investors were anticipating and the greenback felt the effects, dropping to multi-week lows. Traders across the globe were waiting to see whether the Chairman would offer […]
Where Does Bitcoin Go From Here? by Bogdan Giulvezan After spending more than 2 months trapped inside what seemed like a never-ending range, Bitcoin finally gathered the strength to break out, and earlier this week it reached the key psychological level at $50,000. Since the high at $50,500, the flagship cryptocurrency has resumed a downward […]
Jackson Hole Symposium Moves Online as Delta Threat Is Rearing Its Ugly Head by Bogdan Giulvezan Last Friday the US Dollar reached a 9-month high against the Euro but on Monday it slipped against its major peers, including the single currency, and allowed the EUR/USD to climb back above the key level at 1.1700. The […]
Green Across the Board – Cardano Is Leading the Charge by Bogdan Giulvezan About a week ago, Cardano’s chief developer announced that the Alonzo upgrade, which will bring smart contract functionality, will go live on September 12. The market response was swift and the coin rallied substantially but oftentimes, these massive surges are short-lived and […]
Retail Sales and Fed Minutes Eyed by Bogdan Giulvezan The greenback is hovering near a one-week low against most of its major peers, following a disappointing Consumer Confidence report released last Friday by the University of Michigan. The report posted a reading of 70.2 (the forecast was 81.2), which is the lowest since 2011. Many […]
Bitcoin – The New Darling of Governments? Soon after El Salvador announced that Bitcoin will become legal tender in the country, there were rumors that Paraguay is looking to do the same. Since then, the long-awaited Bitcoin bill was presented in Paraguay’s National Congress but instead of aiming to make BTC legal tender, it simply […]