Red-Hot Inflation Fails to Create New Lows. Is a Bottom in Place? Thursday, despite higher inflation numbers posted by both versions of the CPI (headline and core), the crypto market made a dramatic recovery. The initial market reaction was “normal”: if the CPI exceeds expectations, then the Fed will increase the rate more aggressively and […]
EUR/USD Bounces at Resistance Ahead of Key Inflation Data. Once again, the U.S. Non-Farm Payrolls report exceeded expectations last week, showing that 263K new jobs were created during the previous month. The forecast was relatively close, at 248K but the reading shows that the labour market is not slowing down, which strengthens the case for […]
BNB Sinks into Support Following Massive Hack. Earlier today, Binance’s proprietary Binance Smart Chain suffered a cybernetic attack that resulted in the loss of 2 million BNB, worth over $500 million. Before the hack, BNB was trading around 297 against the US Dollar and was trending up since September 19; at the time of writing […]
EUR/USD Finds Temporary Support Despite Red-Hot U.S. Inflation. NFP Next. Accelerating inflation remains a big problem in the United States and the Eurozone, as evidenced by last week’s European CPI and U.S. Core PCE Index. The Eurozone Consumer Price Index accelerated to 10.0% in September, bringing forth the expectation of another huge ECB rate hike. […]
Bitcoin and Ethereum Geared Up for Fresh Rallies. XRP Shoots Up 15% Ripple Labs scored a major victory against the SEC in their legal clash and XRP was quick to react, bursting more than 15% to the upside, to a high of 0.5094. Some of the gains were erased as XRP/USD retraced and is currently […]
Euro and Pound Hit Historic Lows, DXY Skyrockets The Euro plunged to a 20-year low against the US Dollar, while the Pound sank to a 37-year low after the Fed decided in favour of another 75 bps mega-hike. The Dollar renewed its assault on its counterparts, taking the Euro to a low of 0.9552 and […]
Bitcoin, Ethereum Show Recovery Signs Post Fed Meeting Following a televised interview delivered by Ripple Labs CEO Brad Garlinghouse, XRP is up almost 30% during the last 24 hours and 67.6% over the last 7 days. The main price driver for Ripple’s XRP has been the lawsuit between the SEC and Ripple, where the former […]
U.S. Inflation Continues to Accelerate. EUR/USD Threatens Support Again Last week’s Consumer Price Index showed that inflation in the U.S. is not subsiding, which means that a 75-bps rate hike is on the table. There’s been a lot of talk about the Fed’s next move and whether they will add 50 or 75 basis points […]
How Ethereum’s Proof-Of-Work Alternative Can Keep Miners Happy On September 15, Ethereum completed the much-anticipated Merge, which makes the transition from a Proof of Work blockchain to a Proof of Stake one. The Merge is supposed to lower the Ethereum fees by 99% and make it a lot more environmentally friendly, as well as a […]
EUR/USD at Technical Crossroad. Bounce-Or-Break Scenario in Play Last week the Euro started a decent rally as the markets digested the ECB’s decision to add 75 basis points to the interest rate. This rise was largely anticipated but during the press conference, ECB President Christine Lagarde offered hints that another mega hike may follow. She […]