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Modest Gains for the Dollar as the NFP Exceeds Expectations

Aug. 08, 2022

Choppy Price Action Ahead of U.S. Inflation Data. Friday’s U.S. jobs data came out surprisingly better than anticipated, with all three indicators in the green; the greenback was quick to react, posting gains against its counterparts. The Average Hourly Earnings increased 0.5% (forecast was 0.3%), the Unemployment Rate dropped to 3.5% (forecast was 3.6%), while […]

Bitcoin and Ethereum Hold Their Ground Despite Pullbacks

Aug. 05, 2022

Binance Coin (BNB) Outperforms All Major Cryptos. In late July, Bitcoin managed to move above a bearish trend line printed from the March 2021 top but it failed to make significant advances after the break. Although BTC/USD is still trading above the said trend line, the pair started a slow and grinding pullback that took […]

Stubborn Inflation Spoils US Dollar’s Advance

Aug. 01, 2022

The Labour Market Takes Center Stage – All Eyes on the NFP Report. Despite the Fed’s continued efforts to combat inflation, Friday’s PCE Index showed a monthly increase of 0.6%, double the previous reading and higher than the 0.5% estimate. The greenback slowed down its ascent, allowing the Euro to erase some of its losses. […]

BTC/USD Surpasses Major Resistance. What’s Next?

Jul. 29, 2022

Bitcoin Makes Serious Advances. Here’s How the Fed Helped. Wednesday, July 27, the Fed announced a 75-bps rate hike, which effectively sent Bitcoin 8.0% higher, from an open at $21,266 to a close at $22.969. Wednesday’s high was $23,112 and the bulls continued to push the following days, reaching a high at $24,445 at the […]

The ECB Surprises With 50-Bps Hike. The Dollar Braces for Fed Move

Jul. 25, 2022

EUR/USD Caught in a Range as the Markets Await the FOMC Rate Decision. Last week the European Central Bank decided to hike the interest rate for the first time in 11 years but the move was bolder than anticipated. The ECB added 50 basis points to the rate, double the consensus 25 basis points (actual […]

Bitcoin Recovery Flustered by Tesla’s 75% Sell-Off

Jul. 22, 2022

BTC/USD at Technical Crossroad. Major Hurdles Ahead! In last week’s post, we talked about the three higher lows printed by BTC/USD and the bullish implications of this pattern. It turns out this was a reliable sign of what followed: Bitcoin climbed to $24,280, moving briefly above the 50-day Moving Average and touching a long-term bearish […]

EUR/USD Parity Achieved! What’s Next?

Jul. 18, 2022

Rate Hike Incoming. Will the ECB Finally Take Action? Two decades ago, EUR/USD was trading at 1.0000; last week the pair visited that historic price once again, reaching a low at 0.9952. Since then, the US Dollar has retreated a bit, allowing the pair to climb to 1.0140 at the time of writing. Inflation in […]

Bitcoin Grinds Higher Despite Record-High U.S. Inflation

Jul. 15, 2022

MicroStrategy CEO Still Bullish on Cryptocurrency, Sees BTC as an Inflationary Hedge. U.S. inflation rose to 9.1% (Year-over-Year), hitting a 40-year high, as evidenced by Wednesday’s Consumer Price Index report. This huge inflationary pressure is helping the US Dollar in its “battle” with other currencies but is posing a palpable threat to the U.S. economy, […]

Euro Hits 19-Year Lows, Goes One Step Closer to Parity

Jul. 11, 2022

Strong NFP Report Keeps the Fed on Track for a 75-Bps Hike in July EUR/USD broke the floor at 1.0350 and invalidated a triple bottom scenario, increasing the probability of a move to parity. The pair reached 19-year lows last week as the US Dollar benefited from a shiny Non-Farm Payrolls report. Also, the demand […]

Bitcoin Spikes above $22K as Celsius Pays Back Its Loan

Jul. 08, 2022

BTC/USD Carves a Higher High. Are the Bulls Back in Action? The apex cryptocurrency just printed a higher high with an intraday top at $22,400 and is showing signs of positive price movement. Bitcoin is up 7.50% in the last 24 hours and the rest of the market seems to follow along: Ethereum climbed above […]