CBDCs Are a Thing Again, Mastercard Wants a Piece of the Crypto Pie A while back, some central banks, including the European Central Bank appeared to be very interested in the idea of CBDCs – Central Bank Digital Currencies. The interest in CBDCs remained high but they somewhat disappeared from the spotlight, although governments continued […]
Fed Stance on Tapering May Affect the Trend The US Dollar lost ground against many of its major counterparts on Monday, taking a nose-dive and retreating to almost 2-month lows. The EUR/USD is currently trading just shy of 1.2100, after a perfect bounce at 1.1700 support, which occurred almost a month ago. Fed’s meeting that […]
Fears of “Major Correction” in Play “What goes up, must come down” – it’s about the only thing that physics and financial charts have in common. Bitcoin’s massive 2021 rally is taking a breather, with the Digital Gold crashing below the key psychological level at $50,000 and currently trading at $47,920. Although the exact reason […]
Eurozone Economy Still on “Two Crutches” Speaking at an event last Wednesday, European Central Bank President Christine Lagarde warned that the bloc’s economy is still reliant on what she referred to as “two crutches”: monetary and fiscal stimulus. On that note, the EUR/USD is testing the resistance at 1.1970 – 1.2000 and has crept above […]
Coinbase IP Sparks Fresh Highs For Bitcoin It seems like every new week, the crypto market is making a new All-Time High, with Bitcoin leading the charge and defying gravity at $61,500. It is currently correcting lower after reaching highs just shy of $65K and some of the downside seems to be triggered by Turkey’s […]
Fueled By Hopes of Elevated Inflation and Retail Sales Data The US Dollar retreated off 93.43 highs last week, with the DXY sliding to a low of 92.02 on Friday and trading near 92.30 at the time of writing. Federal Reserve Chair Jerome Powell appeared on CBS’s “60 Minutes” over the weekend and said that […]
Crypto Dominance: XRP Regains $1 As Bitcoin stabilizes above $57,500, the altcoins are gaining traction and showing positive signs. The front runners are Ripple’s XRP, Ethereum, and one of the best performers of the year: Binance Coin (BNB). Ripple’s XRP is making an explosive comeback after suffering the heavy blow from the SEC trial. The […]
EUR/USD Tests Support The U.S. economy is showing signs of recovery, as evidenced by rising Treasury yields and a Non-Farm Payrolls report that exceeded expectations last Friday: forecast 652K, actual 916K. The increase in jobs is likely to translate into a stronger greenback, although the dollar bulls are still eyeballing the services sector data due […]
BNB Prone to “Rocket” Breakout At the time of this writing, Bitcoin is hovering just below $60K, trading at $59,820, with a 12.80% increase over the last 7 days. According to TradingView charts, the high for the day was $60,103, and the digital “king” is correcting lower but has a bullish bias overall. The fuel […]
The Greenback Holds Firm Ahead of U.S. Non-Farm Employment Report On Monday, the European single currency dipped below 1.1800 as tougher COVID-19 numbers hit the economy and hampered the prospects of economic recovery. The Euro is now headed for its biggest descent since the middle of 2019 and a big part is being played by […]