The Bitcoin Market Is Breaking Down The Bitcoin market did not rally from the $9,000 level as expected. On the contrary, the world’s leading cryptocurrency broke through support and looks like it could take another plunge. The token is undergoing an intense round of profit taking that, I think, is lingering HODL’rs leftover from the […]
Rate Cuts Are “Plausible” The pound weakened versus the world’s major currencies after another dovish cry from the BOE. Monetary Policy Committee member Michael Saunders says it is plausible the BOE could lower rates at the next meeting. The news is not a surprise, many in the community have been expecting a cut for some […]
Bitcoin Wallows While These Coin Shine It is without doubt the Bitcoin rally has fizzled out. For now. The forces driving the Bitcoin are in consolidation and that may take several more weeks if not months. In the meantime, the entire cryptocurrency market has been in retreat and now sitting at attractive price levels for […]
FOMC Is Hawkish, No More Cuts Are Coming The FOMC cut rates by a quarter point this week and that was expected. What was also expected was an outlook for more cuts, possibly THREE more cuts, and that is not what we got. Quite the opposite in fact, based on the individual opinions of the […]
Tom Lee Has Said It Again, Bitcoin Will Set A New All-Time High Tom Lee, founder and chief market strategist at Fundstrat, has doubled-down on his Bitcoin prediction yet again. According to him Bitcoin is heading up to a new all-time higher, possibly this year, and the equity market is why. His prediction is that […]
The Euro Rebounds, But Don’t Get Too Bullish Yet The ECB meeting was a big surprise this week. We were expecting some stimulus but maybe not the amount the bank delivered. Not only did Mario Draghi and his crew cut rates another 10 bps deeper into negative territory they started buying bonds again. The prime […]
The Brexit Has The Pound On The Move If there has been one thing moving the markets over the past two years that has grabbed my attention it is the Brexit. The Brexit is a monumental event for world politics, it is the succession of a major member-nation from the EU. Without doubt, the Brexit […]
Bitcoin Is Moving Higher, Don’t Count On New Highs Yet The Bitcoin/cryptocurrency market has cooled off, but that is a good thing. The market is up strongly YTD and a little consolidation is a healthy market mechanic, it sets the market up to continue moving higher later this year. Over the last few days the […]
The Dollar Index Has Broken Out To New Highs The Dollar Index got a boost from last week’s slate of economic data, data that belies the idea of impending U.S. recession. No single data point was what I would call robust but neither was there a weak one. GDP was revised lower for the 2nd […]
Easy Money Policy, It’s Back To say easy money policy is back is a misstatement. Easy money policy never really went away. Policy has been tightened in a few countries, specifically the U.S., and some other countries had been on target to tighten, but by no means is or was global monetary policy “tight”. That […]