Euro Bearish as ECB Officials Are Set to Reveal New Monetary Policy The US Dollar ended a bullish week, boosted by much better than anticipated Retail Sales data: the Core indicator, which excludes automobile sales from the calculation, posted a 1.3% change while the forecast was 0.4%. The “vanilla” version also showed a reading above […]
Price Action Remains Unaffected by Bogdan Giulvezan Despite the recent lethargy that’s present on Bitcoin charts, the flagship cryptocurrency is making its way deeper and deeper into the mainstream and is viewed more often as a viable form of payment. The latest win for Bitcoin comes from Jackson, Tennessee: Friday, Mayor Scott Conger announced that […]
Inflation in the Spotlight by Bogdan Giulvezan Last week the EUR/USD retreated from a three-month low at 1.1781 as the US Dollar took a step back due to decreasing FED rate hike prospects, combined with a plunge in Treasury yields which saw lows of 1.25%. The pair is currently trading at 1.1860 after a bounce […]
US Dollar Hits Bump in the Road Ahead of Fed Minutes by Bogdan Giulvezan Last week’s U.S. Non-Farm Payrolls report posted better than expected numbers and showed that 850K new jobs were created in June, while the general consensus was 725K. However, the strong reading was overshadowed by an uptick in U.S. unemployment, as the […]
VISA Boards the Crypto Train by Bogdan Giulvezan Ethereum’s long-anticipated London hard fork, which will introduce the EIP-1559 upgrade, has been deployed on the Rinkeby testnet. This is the final test environment and the full London upgrade is scheduled at block 12965000, which is estimated to be reached on August 4. According to Ethereum developer […]
Potential Influx of 350 Billion Euro into the Bitcoin Pool. by Bogdan Giulvezan Today a German law approved earlier in April this year is coming into effect and could potentially generate a massive influx of capital into the crypto market. The new law allows institutional funds to allocate up to 20% of their holdings into […]
Range-Bound Trading Ahead by Bogdan Giulvezan The EUR/USD pair settled just a few pips below the technical level at 1.1970, which has rejected climbing prices twice in the last few days. The pair is showing signs of indecision, as price action has slowed down and long-wicked candles have appeared. Last week’s softer than expected U.S. […]
Salvadorans, Rejoice. Free Bitcoin for All! by Bogdan Giulvezan As most of you probably know by now, a bill was recently passed in El Salvador, giving Bitcoin the status of legal tender in the country. The law will come into effect in September and all businesses will have to accept Bitcoin as a form of […]
Fed Signals Sooner-Than-Expected Tapering The US Dollar Index (DXY) gave back some gains on Monday and slipped to 92.115 from a 92.405 high reached Friday on the back of a surprise hawkish switch by the Fed. The dollar jumped almost 2.0% last week (which marks the biggest gain since March of 2020), as investors rushed […]
El Salvador Was First To Embrace Bitcoin by Bogdan Giulvezan Recently we’ve learned that El Salvador passed legislation that made Bitcoin legal tender in the country, which means that the flagship cryptocurrency will be accepted as a form of payment at all businesses, just like the US Dollar. News surfaced today that Carlitos Antonio Rejala […]