Tapering Timeline Unflustered By Soft NFP Report by Bogdan Giulvezan Despite a disappointing U.S. Non-Farm Payrolls report released Friday, the US Dollar remained largely unfazed, as the majority of market participants are still hawkish on the start of the asset purchase tapering in November or December. The U.S. added only 194K new jobs last month, […]
Breakout! Bitcoin has finally managed to break key resistance and to print a new significant high above $55,500, successfully surpassing the early-September peak at 53,000. At the time of writing, the flagship cryptocurrency is up 23.55% for the last 7 days and continues to move north, which could mean that $59,000 resistance is the next […]
The U.S. Jobs Data – Last week the US Dollar climbed to a 14-month high against the Euro, as market participants estimated that the Fed will raise rates before the other central banks, and positive U.S. data came out. The Core PCE Price Index exceeded expectations, showing a 0.3% increase, while the ISM Manufacturing PMI […]
Bitcoin Gearing Up for Bullish Breakout The world’s most well-known crypto asset – Bitcoin – has gained more than 58% since the year’s low of $27,734 that was reached on January 4. For the last 10 days, the flagship cryptocurrency has been stuck in a range between $40,000 and $45,000, bouncing perfectly between the two […]
EUR/USD – Central Bankers’ Meeting, U.S. Inflation Last week was a rollercoaster ride for the US Dollar: on Wednesday it was boosted by the Fed’s announcement that it may begin to taper asset purchases as soon as November and that rate hikes may soon follow, but on Thursday it had the biggest drop in about […]
Bitcoin Enters Twitter, Erases Losses, and Gets Compared to Kenny by Bogdan Giulvezan Throughout history, Bitcoin naysayers called it “dead” hundreds of times. It’s dead because of this, because of that, it will never work, et cetera, et cetera… and yet here we are, with Bitcoin alive and well, used as a valid investment vehicle […]
BoE Uncertainty and Gas Prices Push Pound Lower by Bogdan Giulvezan On Monday the Pound hit a one-month low against the greenback, weighted by rising gas prices in the UK, as well as uncertainty regarding the Bank of England’s monetary policy which will be revealed this Thursday. On the other hand, the dollar’s safe-haven status […]
Earlier in February, PayPal announced that it will allow its U.K. customers to buy, sell and hold cryptocurrencies (Bitcoin, Bitcoin Cash, Ethereum, and Litecoin) via its app. The San Jose-based financial giant first got its feet wet in the crypto ocean by allowing U.S. clients to use digital currencies back in October 2020 and gradually […]
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 […]