EUR/USD tests 1.1200 after breaking below its long-term trading range. The dollar extended its gains throughout the week, reaching a 17-month high against the euro, despite softer-than-expected inflation data. The Fed’s preferred inflation gauge, the Core PCE Price Index, showed a 0.2% change, lower than the predicted 0.3%. The odds of another 25-bps rate hike […]
BTC bounces off $82K, challenging the previous peak at $87K Bitcoin started October on a bullish note, briefly piercing $85,000 after the US PCE Price Index showed that inflation is softer than anticipated. This increased the appeal of risk assets such as cryptocurrencies and lowered the odds of an October rate hike to 40% at […]
EUR/USD breaks below 1.1400 as oversold RSI raises rebound risks The US Dollar continued to strengthen after the Fed decided to increase the interest rate to 4.0%, and the US Dollar Index (DXY) reached multi-month highs. Against the euro, the dollar pushed below the 1.1400 threshold, which was a barrier that confined the price for […]
BTC retreats from $87,300 but remains above the key $82K breakout level Despite the Clarity Act Senate setback, Bitcoin broke through the key resistance at $82,000 and peaked above $87,300 before retreating into the $83,000 area. Soon after the failed Clarity vote, the Securities and Exchange Commission (SEC) announced new and favourable rules for tokenised-asset […]
EUR/USD breaks below 1.1500 after losing support at 1.1600 The dollar got a boost last week after the Federal Reserve raised interest rates by 25 basis points, bringing the target range to 3.75%–4.00%. The decision was unanimous and mostly triggered by the strong jobs report and hotter inflation figures released earlier. The Fed pointed to […]
BTC holds above $75K while the rising 50-day MA points to improving momentum The Clarity Act failed in the Senate on Tuesday, after a 49 – 50 vote, which showed that even some Republicans voted against it. The bill needed 60 votes to invoke cloture, which would have brought the debate to an end. Ethics […]
EUR/USD compresses near 1.1600 after testing support. The US Dollar Index (DXY) jumped after the release of the US Consumer Price Index (CPI), but erased all gains and ended last week almost where it started. The DXY measures the dollar’s performance against a basket of six other peers and is heavily affected by the US […]
BTC forms a double top at $82,000 as ETF outflows add to selling pressure. Bitcoin is facing renewed sell pressure after another failed attempt to surpass $82,000, with dwindling ETF activity and pessimism surrounding the Clarity Act. Several US Senators have expressed their concerns regarding the Clarity bill, saying they do not expect it to […]
EUR/USD holds above 1.1600 after repeated bounces from the 100-day MA The dollar got a massive boost on Friday from a stellar jobs report, which massively surpassed market expectations by showing that 162K new jobs were created during the previous month. The forecast was just 55K, but the actual number sent the probability of a […]
BTC consolidates below $82K after an overbought RSI signaled rising pullback risk. After the massive mid-August breakout, Bitcoin bulls packed their bags, the price started to drift lower, and now a new question emerges: Was that all? Probably not, but the next direction will likely be decided by macroeconomic catalysts. Fed Chair Kevin Warsh sent […]