U.S. Inflation Up, Retail Sales Down, The greenback bounced higher last Wednesday as both the Consumer Price Index and Core CPI posted higher than expected values: a 0.8% change for the former and a 0.9% change for the latter, while the forecast was 0.2% and 0.3% respectively. U.S. Retail Sales and Core Retail Sales (this […]
Bitcoin’s $50K Tug-of-War and the Double Bottom Springboard Since Wednesday’s big drop, Bitcoin has been hugging the $50,000 level in what looks like a tug of war between the bulls and bears. It is currently trading at $49,950, after rebounding from $45,700 lows. The initial drop was mainly caused by the “breakup” between Tesla and […]
Focus Shifts towards Inflation Numbers The Non-Farm Payrolls report released Friday not only disappointed but also shocked the US Dollar bulls by showing that only 266K jobs were created during April, while the anticipated number was 990K. disclaimer – The NFP is a highly flawed data point. It is the difference of two faulty estimates […]
Citi Considers Adding Crypto Services According to a report from the Financial Times, the banking giant Citigroup Inc. is currently weighing the possibility of offering cryptocurrency services to its clients. At the time of writing it is not clear if the bank will add these services but the options on the table are custody, financing, […]
NFP Data Could Green Light Additional Gains April was a rough month for the US Dollar, as the DXY finished the month with a 2% decline; the index was facing a 3% monthly drop but the last day of April saw the greenback rejuvenated and making solid gains against most of its major counterparts. The […]
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 […]