Bears Break April’s Low. Where to Next? The latest U.S. inflation data released Wednesday provided further evidence that the Fed might not continue hiking interest rates to curb inflation. The Core CPI (year over year) came in at 5.5%, lower than the previous 5.6%, while the headline CPI (year over year) was 4.9%. Both the […]
CPI Release Expected to Impact Currency Markets. The US Dollar is threading water and showing signs of weakness despite better-than-anticipated numbers for the Non-Farm Payrolls report. Last Friday, data showed that 253K new jobs were created, surpassing the forecast of 181K and the previous 165K. The Unemployment Rate dropped to 3.4% from the previous 3.5% […]
$30,000 Is Still the Talk of the Town. Break Out or Break Down? The Federal Reserve and the European Central Bank both did what the markets widely expected: to raise their respective interest rates by 0.25 bps. However, going forward there seems to be a growing divergence between the monetary policies of the two central […]
EUR/USD in Limbo as Traders Await Key Data We are headed towards what could be the Fed’s last rate hike of the year but if that isn’t enough, the Non-Farm Payrolls report will spice things up even more. And it doesn’t stop here: the European Central Bank will announce the main refinancing rate and the […]
A Fresh Assault On $30K. Can the Bulls Break it This Time? The Bitcoin rollercoaster was firing on all cylinders this week, peaking at $30,000 on Wednesday before losing almost $3,000 in a matter of hours. As of this writing, BTC/USD is trading at 29,500, and it looks like the bulls are ready to make […]
EUR/USD In Balance… but That’s All About to Change Last week the EUR/USD market has been harsh for traders, as it has been kept in a narrow range of below 100 pips since Monday. This lack of volatility can be attributed to the absence of fundamental drivers and limited data. Despite hawkish Fed speak, the […]
$30,000 Proves to Be Too Much for the Bulls. Where to from Here? Bitcoin’s new best friend might be the United States’ next President. Robert F. Kennedy Jr., son of Robert Kennedy and nephew of late President John F. Kennedy officially announced he will be running for President in 2024. He is planning to run […]
EUR/USD’s Price Action Turns into a Balancing Act on 1.1000 The euro-dollar pair seems to have settled at 1.1000 for the time being, after reaching a 12-month high of 1.1075, on April 14th. Both the European Central Bank (ECB) and the US Federal Reserve are likely to continue their rate hikes, which will continue to […]
Shapella Upgrade Boosts Ethereum: $2,000 Resistance Shattered! On April 12, the Shapella upgrade went live, allowing the withdrawal of about $222 million worth of Ethereum, which was previously locked in staking. Apart from this, the Shapella upgrade improves ETH’s gas fees and completes Ethereum’s transition to a Proof-of-Stake (PoS) protocol. The value of Ether has […]
EUR/USD Close to a Double Top Ahead of Inflation Data The employment data announced Friday strengthened the argument for additional increases in the Federal Reserve interest rates next month. Non-Farm Payrolls increased by 236K in March, very close to the 228K predicted, and the Unemployment Rate dropped to 3.5% from 3.6% in February. These strong […]