The Labour Market Takes Center Stage – All Eyes on the NFP Report. Despite the Fed’s continued efforts to combat inflation, Friday’s PCE Index showed a monthly increase of 0.6%, double the previous reading and higher than the 0.5% estimate. The greenback slowed down its ascent, allowing the Euro to erase some of its losses. […]
Bitcoin Makes Serious Advances. Here’s How the Fed Helped. Wednesday, July 27, the Fed announced a 75-bps rate hike, which effectively sent Bitcoin 8.0% higher, from an open at $21,266 to a close at $22.969. Wednesday’s high was $23,112 and the bulls continued to push the following days, reaching a high at $24,445 at the […]
EUR/USD Caught in a Range as the Markets Await the FOMC Rate Decision. Last week the European Central Bank decided to hike the interest rate for the first time in 11 years but the move was bolder than anticipated. The ECB added 50 basis points to the rate, double the consensus 25 basis points (actual […]
BTC/USD at Technical Crossroad. Major Hurdles Ahead! In last week’s post, we talked about the three higher lows printed by BTC/USD and the bullish implications of this pattern. It turns out this was a reliable sign of what followed: Bitcoin climbed to $24,280, moving briefly above the 50-day Moving Average and touching a long-term bearish […]
Rate Hike Incoming. Will the ECB Finally Take Action? Two decades ago, EUR/USD was trading at 1.0000; last week the pair visited that historic price once again, reaching a low at 0.9952. Since then, the US Dollar has retreated a bit, allowing the pair to climb to 1.0140 at the time of writing. Inflation in […]
MicroStrategy CEO Still Bullish on Cryptocurrency, Sees BTC as an Inflationary Hedge. U.S. inflation rose to 9.1% (Year-over-Year), hitting a 40-year high, as evidenced by Wednesday’s Consumer Price Index report. This huge inflationary pressure is helping the US Dollar in its “battle” with other currencies but is posing a palpable threat to the U.S. economy, […]
Strong NFP Report Keeps the Fed on Track for a 75-Bps Hike in July EUR/USD broke the floor at 1.0350 and invalidated a triple bottom scenario, increasing the probability of a move to parity. The pair reached 19-year lows last week as the US Dollar benefited from a shiny Non-Farm Payrolls report. Also, the demand […]
BTC/USD Carves a Higher High. Are the Bulls Back in Action? The apex cryptocurrency just printed a higher high with an intraday top at $22,400 and is showing signs of positive price movement. Bitcoin is up 7.50% in the last 24 hours and the rest of the market seems to follow along: Ethereum climbed above […]
Bullish Pattern Emerges. Long-Term EUR/USD Downtrend Threatened. On May 13, the dollar managed to take the euro to 1.0350 for the first time since December 2016. After a bounce that took the pair back into the 1.0770 area, the bears tested 1.0350 two more times, creating a triple bottom pattern. This is viewed as a […]
Bitcoin Whales Start Filling Their Wallets as Bitcoin Plunges Below $20K “Thank you for selling cheap” – these were the words of El Salvador’s President Bukele as he announced another round of Bitcoin purchases. According to the President’s Twitter account, on June 30, El Salvador bought 80 BTC at $19,000 each. This puts the country’s […]