BNB Suffers the Consequences, Sheds 15% In a major development for the cryptocurrency industry, the U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Binance, the world’s leading crypto exchange, and its co-founder and CEO, Changpeng Zhao (CZ). The SEC has levied 13 charges against Binance and CZ, accusing them of various violations […]
NFP Data Defies Expectations, Keeping the Dollar Resilient and Interest Rates Unchanged. The Non-Farm Payrolls report created some ruckus once again, blowing the consensus figure out of the water: 339K new jobs created in May versus 193K expected. This shows that the economy is still strong and other recent data, like consumer spending and new […]
Bearish Trend Line Stops Bitcoin’s Advancement Google search data has revealed that global interest in the term “AI” has reached an unprecedented level, although it still falls short of the peak excitement surrounding Bitcoin in 2017. In recent months, artificial intelligence has been all the rage, with some considering it the latest trend after the […]
U.S. Inflation Still Resilient. NFP Report Ahead. The greenback is on the offensive, fuelled by growing optimism about the U.S. Federal Reserve implementing further rate hikes. It seems that a deal regarding the debt ceiling has been reached between U.S. President Joe Biden and House Speaker Kevin. The $31.4 trillion debt ceiling will be suspended […]
Weekly Crypto Roundup: ETH, XRP, BNB Price Updates. Bitcoin has managed to remain fairly stable amidst various financial ups and downs such as the debt ceiling crisis, the banking crisis, and sky-high inflation. However, according to Glassnode, a reliable on-chain analytics firm, this period of stability may not last long, and we can expect a […]
EUR/USD at Support. Will the Bulls Step In? The dollar started to slide against the yen and euro on Friday and the weakness continued Monday. The decline was triggered by unexpected complications in the U.S. debt ceiling negotiations and by comments made by Fed Chair Jerome Powell, who suggested a slower pace of interest rate […]
Weekly Crypto Roundup. BTC, ETH, XRP, LTC Price Updates As of this month, the number of Bitcoin addresses that hold at least 1 BTC has surpassed 1 million. This milestone which garnered a lot of interest on social media was reached on May 18, according to crypto analytics firm Glassnode. The “wholecoiners” have been on […]
EUR/USD Headed for Support After Failed Breakout The US Dollar Index (DXY) broke a 5-week high on Monday, boosted by renewed inflation worries following last week’s CPI release which showed that inflation is toning down. The University of Michigan Consumer Sentiment survey released Friday revealed that consumers’ long-term inflation projections accelerated to a 12-year high. […]
Bears Break April’s Low. Where to Next? The latest U.S. inflation data released Wednesday provided further evidence that the Fed might not continue hiking interest rates to curb inflation. The Core CPI (year over year) came in at 5.5%, lower than the previous 5.6%, while the headline CPI (year over year) was 4.9%. Both the […]
CPI Release Expected to Impact Currency Markets. The US Dollar is threading water and showing signs of weakness despite better-than-anticipated numbers for the Non-Farm Payrolls report. Last Friday, data showed that 253K new jobs were created, surpassing the forecast of 181K and the previous 165K. The Unemployment Rate dropped to 3.4% from the previous 3.5% […]