Biden Administration Budget Proposal Talking Points: US GDP growth slated to fall to 2% in 2023, and decline further to 1.8% in the second half of the decade Unemployment is forecasted to drop below pre-pandemic levels, jobless rate projected at 3.8% in 2023 President Biden’s budget would push the percentage of national debt to . . . → Read More: Biden Administration Reveals 2021-22 Budget Forecast, Lack of Growth Apparent
|
|||||
 |
The cryptocurrency market faced a new wave of selling pressure on May 28 as Bitcoin (BTC) price dropped to $35,100 and traders seem generally disinterested in buy the dip ahead of the weekend. Despite the downside moves seen across the market over the past couple 2 weeks, institutional investors have for the most part . . . → Read More: Bearish signals grow as Bitcoin price drops to $35K and traders ignore the dip Earlier this week billionaire investor Carl Icahn’s told Bloomberg that he is considering entering crypto in a big way but this hardly made any difference to crypto prices. This is just another hint that the underlying sentiment is bearish and that crypto markets are not reacting positively to favorable news. However, this does not mean that . . . → Read More: Price analysis 5/28: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, ICP, UNI, BCH One ultra-rare CryptoPunk is set for some extra stage time at a hotly anticipated upcoming auction. In a Tweet today, luxury auction house Sotheby’s announced that the sale of CryptoPunk #7530 — also known as “Covid Alien” — will be offered during a “special, standalone” auction. The Punk was previously announced as part . . . → Read More: Sotheby’s moves $10 million CryptoPunk to solo auction event Bitcoin may not mean an end to traditional currency and banking, according to research director of Coin Center Peter Van Valkenburgh “I think there are folks in the Bitcoin community who probably make too many noises about how Bitcoin is going to dominate all economic systems and nobody will be using dollars anymore, . . . → Read More: Bitcoin likely won’t entirely replace current financial system, Coin Center director says GBP/USDFUNDAMENTAL HIGHLIGHTS: GBP Lifted by Hawkish BoE Comments Lack of Domestic Data Turns Focus on The US Risks That Reopening Plans Need to Wait Provide a Headwind for GBP GBP has managed to hold onto gains stemming from BoE’s Vlieghe, who provided rather hawkish comments having discussed conditions where a rate hike . . . → Read More: GBP/USD Weekly Forecast: BoE Hawks vs UK Reopening Concerns Advertisement US Dollar Outlook: US Treasury yields have been moving sideways after the ‘taperless tantrum’ earlier in the year, depriving the US Dollar of a needed catalyst in recent weeks. Volumes across the Federal Reserve’s open markets desk suggest that excess liquidity is being drained from financial markets. Is this the start of . . . → Read More: The Scary Fed Number Everyone is Talking About Gold Price Forecast: Gold Price Reverses at Resistance as Rally Remains Intact Gold reversed at resistance late this week after the metal tagged its highest price since early January on Tuesday. Gold’s price gains have seen it extend beyond the upper bound of the descending channel from August and add to its rally . . . → Read More: Gold Price Reverses at Resistance as Rally Remains Intact Cryptocurrency businesses in the United Kingdom have been struggling to meet Anti-Money Laundering standards set by the Financial Conduct Authority, according to a senior official. John Glen, a member of U.K. Parliament and the economic secretary to the Treasury, pointed out major difficulties in the process of registering crypto firms under the FCA’s . . . → Read More: Crypto firms not meeting AML standards, says UK minister US DOLLAR OUTLOOK: DXY INDEX STRONGER AFTER PCE INFLATION, PERSONAL SPENDING DATA US Dollar is trading stronger across the board of major currency pairs early Friday USD price action extends to session highs after in-line economic data was released PCE inflation accelerated 0.6% month-over-month as personal spending rose 0.5% US Dollar bulls are . . . → Read More: US Dollar Stays Strong After PCE Inflation, Spending Data The Australian Tax Office has urged citizens to accurately report any profits made in the process of trading cryptocurrencies like Bitcoin (BTC), as it anticipates tax filings from a pool of 600,000 Aussies who it now believes to be invested in digital assets. The ATO’s assistant commissioner, Tim Loh, told news.com.au that people . . . → Read More: Australian tax office: Report crypto profits or else Haruhiko Kuroda, governor of the Bank of Japan has joined the roll call of central bankers taking aim at Bitcoin (BTC) amid the current volatility. According to a report by Bloomberg on Friday, Kuroda argued against the value proposition of the largest crypto by market capitalization, stating: “Most of the trading is speculative . . . → Read More: Bank of Japan governor slams Bitcoin, calls BTC a speculative asset Bitcoin (BTC) led the entire cryptocurrency market through a tumultuous period after the majority of the cryptoverse was painted red on May 19, a day now also referred to as “Black Wednesday.” BTC’s price fell below $40,000 for the first time since it blew past the resistance level on Feb. 9 on the back . . . → Read More: Crypto derivatives market down but not out as $3B expiry sours the mood While Bitcoin (BTC) increasingly falls under the scrutiny of regulators worldwide, Ark Investment founder and CEO Cathie Wood is confident that regulators will be unable to shut down the world’s largest cryptocurrency. Wood said that Bitcoin is “already on its way and it’ll be impossible to shut it down,” Bloomberg reported on Thursday. Global regulators “will . . . → Read More: Shutting down Bitcoin is impossible, Ark Investment founder says After a flurry of activity that saw Dogecoin (DOGE) briefly process a higher dollar value of daily transactions than Bitcoin (BTC) and Ether (ETH) combined, the surge seen on the Dogecoin blockchain appears to be slowing down. Dogecoin’s price increase throughout 2021 has been accompanied by an equally outlandish increase to the value . . . → Read More: Dogecoin whale activity slows down as billions of dollars depart blockchain EUR/USD Price Analysis & News EUR/USD Fails to Extend Above Feb Peak ECB Doves Weigh on Euro EUR/USD: Price action in the Euro is beginning to look exhausted as the break above the Feb high (1.2242) lacked any notable follow-through. That said, the pullback thus far has been capped by support at . . . → Read More: Euro Latest: EUR/USD Upside Exhausted, Risking a Pullback British Pound (GBP) Price Outlook BoE may look at hiking rates in H1 2022. Retail traders’ short positions build. Recent commentary from Gertjan Vlieghe, an external member of the Bank of England’s MPC, has underpinned Sterling against a range of currencies as the markets drift into a long weekend. Vlieghe suggested that the . . . → Read More: British Pound (GBP) Outlook Remains Positive Going Into The Long Weekend Following in the footsteps of VanEck earlier this month, Wisdom Tree has filed an application for an Ether (ETH) exchange-traded fund submitted to the United States Securities and Exchange Commission. According to filings dated May 27, the ETF’s shares would be listed on the Chicago Board Options Exchange’s BZX Exchange. On May 7, . . . → Read More: Wisdom Tree files Ether ETF application with SEC The popularity of non-fungible tokens, or NFTs, shows little sign of slowing down, despite the extraordinary marketwide crash that wiped more than $1 trillion off the crypto market cap. According to a report by decentralized app marketplace DappRadar, the average number of NFT sales rose almost 300%, from 21,815 per day in January, to . . . → Read More: NFT volume has more than tripled — even amid price crash — as Meme.com raises $5M Price action for Bitcoin (BTC) and the wider cryptocurrency market was relatively subdued on May 27 as nervous traders remain unsure of what comes next following last week’s market plunge that saw leveraged traders wiped out as BTC dipped as low as $30,000 before its price rebounded. Data from Cointelegraph Markets Pro and TradingView . . . → Read More: Market enters a ‘wait-and-see phase’ as Bitcoin struggles below $40,000 As a kid who grew up in a podunk-nothing, mid-sized American city, I know what it’s like to read parachute journalism covering topics and stories close to my heart. Some bad news for my fellow DeFi brethren: you’re all about to get a taste of that feeling, too. A colloquialism for when reporters . . . → Read More: Finance Redefined: Parachute journalism on the frontlines of DeFi! May 19-26 The May 28 futures and options expiry could be a turning point for Ether (ETH), as the cryptocurrency rebounded 60% from its $1,730 low on May 23. Even though the open interest stands at $6.2 billion, only 16% is set to expire on Friday, as most of the action takes place on perpetual and . . . → Read More: Monthly $1.9B Ethereum futures and options expiry will determine if ETH hits $3K soon Ethereum, Bitcoin, ETH/USD, BTC/USD Talking Points: Advertisement Cryptocurrencies are continuing to show hints of recovery after a really rough two-week-stretch. That recovery does appear to be a little brighter in Ethereum at the moment, which highlights a bigger theme that’s become more prevalent in 2021 as Ether is appearing to steal some of . . . → Read More: Ethereum (ETH/USD) Strength Outshining Bitcoin (BTC/USD) Recovery The first step to successful trading is the identification of medium- and short-term trends. Traders who remain on the right side of the trend and use risk management principles usually end up earning profits. An equally important activity in the trading process is calculating the entry. Many times, traders are afraid to pull the . . . → Read More: 3 ways traders use moving averages to read market momentum The Reddit and Wallstreetbets crowd is back in focus with GME and AMC leading the charge. Bitcoin recovers some of last week’s spill but finds resistance around $40000 Spot Gold (XAU/USD) broke out last week, but this week has found resistance just above the 1900 level. Advertisement Bitcoin (BTC/USD) on the slow path . . . → Read More: Bitcoin (BTC), Gold, Gamestop (GME) & AMC – FinTwit Trends to Watch The United States Securities and Exchange Commission is looking to cooperate with Congress and other regulators to increase its oversight of cryptocurrency exchanges. Gary Gensler, the newly appointed chairman of the SEC, said that the commission is looking forward to working with fellow regulators and Congress to fill gaps in investor protection in . . . → Read More: US SEC wants to work with Congress to regulate crypto exchanges Reach, a blockchain development platform for decentralized applications, has raised $12 million from investors to further its goals of simplifying the DApp creation process, the company announced on May 26. The latest funding round takes the total sum raised by Reach to $48 million, as the firm aims to produce a javascript-like programming . . . → Read More: Blockchain platform raises $12M to build javascript-like DApps NZD/USD, EUR/NZD, NZD/CAD Price Analysis & News NZD Soars on Hawkish RBNZ Pivot ECB Doves Raises EUR/NZD Downside Risk Overcooked CAD Leaves Room for NZD/CAD Upside NZD: Another hawkish pivot from a G10 central bank, this time from the RBNZ who join the BoC and Norges Bank. While we had anticipated a . . . → Read More: New Zealand Dollar (NZD) Forecast: NZD/USD, EUR/NZD, NZD/CAD Setups to Watch Among the many complications associated with cryptocurrencies like Bitcoin (BTC), a lack of knowledge and understanding of crypto is the biggest obstacle for wider adoption, according to a new survey. The Economist Intelligence Unit, the research and analysis division of the Economist Group, released a new report called “Digimentality 2021.” The study was commissioned . . . → Read More: Lack of knowledge is main barrier to crypto adoption, new survey says The amount of Bitcoin (BTC) held by whales increased by around 14% after Tesla announced its foray into the cryptocurrency sector in early February 2021. The latest data from on-chain analytics platform Glassnode shows an inflow of roughly $19.5 billion worth of Bitcoin — according to current exchange rates — into wallets that hold . . . → Read More: Number of Bitcoin wallets holding 100–1K BTC soars after Tesla’s $1.5B buy-in Bitcoin (BTC/USD), Ethereum (ETH/USD), and Alt-Coin Analysis and Charts: Picking up the pieces but buyers remain wary. Ethereum/Bitcoin spread recovery continues. Last week’s heavy sell-off is gradually being pulled back with the market close to recovering from last Wednesday’s wipe-out. The market still remains in the red over the last seven days and . . . → Read More: Bitcoin (BTC), Ethereum (ETH), Alt-Coins – Recovery Remains Fragile, Volatility Stuck at Near-Extremes Castle Island Ventures’ Nic Carter doesn’t think Elon Musk is the right person to lead the “clean Bitcoin“ debate, “possibly not as far as the Bitcoin community is concerned.” He told Bloomberg, “Bitcoiners are still intensely skeptical of Musk, and they view him as conflicted, given that his business partially involves the sale of . . . → Read More: Elon Musk not right person to lead green Bitcoin debate, Nic Carter says GBP price, news and analysis: GBP/USD is edging lower, challenging both trendline and moving average support. That reflects a firmer US Dollar on continuing talk that the Fed may soon begin talking about a possible tapering of its monetary support. Advertisement GBP/USD under mild downside pressure GBP/USD is slipping lower as the US . . . → Read More: British Pound (GBP) Price Outlook: GBP/USD Challenging Support The Uniswap community has voted in favor of launching the leading decentralized exchange’s v3 iteration on layer-two scaling solution, Arbitrum. Uniswap’s creator, Hayden Adams, announced the vote on May 27, revealing the proposal’s governance vote received 41.35 million votes in favor and zero opposing votes from UNI token holders. He noted that work . . . → Read More: Uniswap v3 looks set for layer-two scaling on both Arbitrum and Optimism The decentralized finance (DeFi) sector faced its first real challenge during last week’s market sell-off that saw more than $1 trillion wiped from the global cryptocurrency market cap as traders feverishly ran for the safety of stablecoins amid tumbling prices. Despite rapidly declining token prices, the nascent DeFi sector held its own as decentralized . . . → Read More: Analyst says DeFi and stablecoins held up well as crypto markets imploded On Wednesday, the bullish momentum that had propelled Bitcoin (BTC) and altcoins into a relief rally was somewhat subdued, as traders remain unsure of what may happen next. After an early morning attempt by Bitcoin bulls to drive BTC’s price above $40,000 was met with stiff resistance, the digital asset lost momentum and slumped back to the . . . → Read More: Altcoins soar, while Bitcoin and Ethereum price stall near key levels A strong bull market tends to attract speculators and newbie traders who hop on to the rally with an aim to get rich quickly. In their eagerness to earn huge profits, traders throw caution out of the window and take on excessive leverage. While this strategy is fruitful during the asset’s up-move, sharp corrections . . . → Read More: Price analysis 5/26: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, ICP, UNI, BCH JP Morgan, Goldman Sachs, Citi CEO Testimony Talking Points CEOs highlighted the role banks played in deploying capital to struggling Americans and small businesses Senate Democrats remain concerned that the banks’ record on social justice is still not “up to par” XLF, the broad-based S&P financials ETF, pushed higher on Thursday continuing recent outperformance . . . → Read More: Wall Street CEOs Testify in Washington on COVID Relief, Diversity Efforts Gold Price Talking Points: Gold prices put in a strong breakout above a key resistance zone last week, marking a topside break of the bull flag formation that’s been brewing for the past nine months. Gold prices haven’t really slowed down, save for a quick check of support at prior resistance around last week’s . . . → Read More: Gold Price Forecast: XAU Bull Flag Breakout Begins to Pull Back Australian Dollar Talking Points AUD/USD carves a series of higher highs and lows as it continues to bounce back from the 50-Day SMA (0.7713), and the exchange rate may stage a larger rebound ahead of the Reserve Bank of Australia (RBA) meeting on June 1 amid the string of failed attempts to test . . . → Read More: AUD/USD Rate Outlook Hinges on RBA Interest Rate Decision for June China has ramped up efforts to quash cryptocurrency mining in its Inner Mongolia region by introducing new penalties for those caught engaging in the illegal activity. Officials unveiled new draft rules that would see harsher punishments applied to those caught mining Bitcoin (BTC) and other cryptocurrencies, per a report by the South . . . → Read More: China to socially blacklist Bitcoin miners in Inner Mongolia region A major advertising industry organization in the United Kingdom has ruled on an ad campaign telling people “it’s time to buy” Bitcoin (BTC). The Advertising Standards Authority, a self-regulating ad organization, officially halted an advertising campaign by cryptocurrency exchange Luno for being misleading and irresponsible. “The ads must not appear again in the form . . . → Read More: UK ad organization bans crypto exchange’s ‘time to buy’ Bitcoin advert Gold (XAU/USD) Analysis, Price and Chart Multi-week bullish channel breakout A close above $1,900/oz. should leave the way open to $1,960/oz. The multi-month bullish gold trend continues apace and the latest break higher has seen both the psychological $1,900/oz. level and channel resistance broken. We noted last week that trend resistance was under . . . → Read More: Gold Price Latest – Punching Through Resistance as The Bullish Trend Continues The current cryptocurrency market scenario is only for traders who have an extremely high appetite for risks. But for the faint of heart, analysts advise patience and caution ahead. The outlook stands tall for Bitcoin (BTC) and Ether (ETH), the top cryptocurrencies by market capitalization that more or less behave as locomotives for the . . . → Read More: Bitcoin price volatility hits 2021 high as one analyst paints $15,000 target Canadian securities regulators have initiated a regulatory action against major global cryptocurrency exchange Poloniex. On Tuesday, the Ontario Securities Commission published a statement of allegations against Polo Digital Assets, also known as Poloniex, alleging that the firm has failed to comply with Ontario securities laws. According to the statement, Poloniex has never been registered . . . → Read More: Canadian regulators accuse crypto exchange of breaking securities law CAD, USD/CAD Analysis and Talking Points USD/CAD | CAD Stalling Despite Oil Price Strength USD/CAD Cheap vs Rate Differentials USDCAD: Signs that the Canadian Dollar is starting to look overcooked is rising. Since Friday, oil prices have risen over 6%, while in the same period CAD has failed to extend higher. Since . . . → Read More: Canadian Dollar Forecast: Pushing to Lower Levels or Correction Ahead? Tesla CEO Elon Musk reminded Twitter followers on Tuesday that despite the recent interest he’s taken in Dogecoin (DOGE), he still has no formal authority over the project. Musk was replying to a comment from a Doge-themed account, which opined that he had taken to operating Dogecoin like one of his own companies . . . → Read More: Elon Musk reminds followers he really isn’t Dogecoin’s master Ethereum is seeing renewed interest in the aftermath of Bitcoin’s travails this week, with Ether’s 24-hour trade volume topping BTC’s by a significant margin. However it’s still a long way from doubling Bitcoin’s volume as some ETH proponents suggested. On May 25, a screenshot of CoinGecko data circulated across Crypto Twitter showing the . . . → Read More: Ether sails past BTC’s daily volume as Grayscale ETH Trust trades at 11% premium Technical analysis, the study of chart patterns, is a tool that helps traders increase their edge over others. This is done by keeping the trader on the right side of the trend and providing warnings when the trend is about to reverse. There are many indicators and patterns that can accomplish this task . . . → Read More: Here are 2 key price indicators every crypto trader should know NZD/USD, RBNZ Price Analysis & News NZD Traders Focused RBNZ Statement, Expect Forecast Upgrades Markets Positioning for a Hawkish Outcome Today’s RBNZ monetary policy statement will be the main focus for NZD traders. Given that the central bank is unanimously expected to maintain the cash rate at 0.25%, the primary focus will . . . → Read More: RBNZ Rate Decision Preview: Fireworks for NZD/USD? EUR/USD Rate Talking Points EUR/USD breaks out of the range bound price action carried over from the previous week as a growing number of Federal Reserve officials warn of a transitory rise in inflation, and the exchange rate may continue to retrace the decline from earlier this year as it clears the February . . . → Read More: EUR/USD Breaks Out of Narrow Range as Dovish Fed Rhetoric Persists
The cryptocurrency sector has undergone a seismic shift in recent years as retail investors and publicly listed companies make their way into the space. Globally, estimates suggest that the number of crypto users surged by about 190% between 2018 and 2020. Record-breaking inflows into the market have also taken . . . → Read More: The importance of block sizes, and the rise of off-chain solutions [embedded content] Market sentiment analysis: Trader confidence remains high, with the safe-haven US Dollar dropping but stocks still at or near their record highs. Moreover IG client sentiment data suggest further losses ahead for USD. Advertisement Trader confidence still positive Traders continue to buy into riskier assets like stocks as comments . . . → Read More: Market Sentiment Data Point to Further USD Weakness Ahead | Webinar Canadian Dollar Price (USD/CAD), News, and Analysis: 14-month USD/CAD sell-off on hold for now. Bank of Canada (BoC) governor Tiff Macklem reiterates the need for tapering. The Canadian dollar’s appreciation against the US dollar has come to a grinding halt just above 1.2000 as higher oil prices and a weaker US dollar continue . . . → Read More: USD/CAD Outlook – Support Creaking as US Dollar Weakness Continues Australian Dollar Analysis and Talking Points AUD Positives Beginning to Fade AUD/USD Levels to Watch IG Client Sentiment Signals Sideways AUD/USD likely to Persist AUD Positives Beginning to Fade The Australian Dollar has not exactly been the most exciting currency as of late, although, in fairness to the AUD, you could probably . . . → Read More: Australian Dollar Forecast: AUD/USD Positives Fade, China Starts FX Intervention In just over five years since it launched, Ethereum introduced the world to smart contracts, decentralized finance, yield farming and non-fungible tokens, and has long stood just behind Bitcoin as the second-largest blockchain project by market capitalization. Dogecoin (DOGE) is a meme cryptocurrency which has provided no innovation, has no real raison d’etre, and is . . . → Read More: More Americans have heard of Dogecoin than Ethereum: Survey Crypto traders were greeted by green markets on May 24 as the majority of altcoins saw their prices bounce back following last week’s downturn that was the “largest deleveraging event since the March 2020 sell-off,” according to an on-chain report from Glassnode. After suffering the biggest monthly price drop in Bitcoin (BTC) history, bulls . . . → Read More: Bitcoin bounces after weeklong ‘capitulation event’ results in $14.2B in losses Altcoins and DeFi sprang back to life on May 24 after a handful of decentralized finance tokens saw their prices increase by more than 60% as Bitcoin bulls pushed BTC price to the $38,000 level. Some analysts are describing the move as a ‘dead cat bounce‘ but despite those concerns, the bounce in prices seen across . . . → Read More: Total crypto market cap gains $400B as DeFi tokens lead the recovery The sentiment in the crypto sector is extremely bearish. On May 23, several altcoins dipped below the May 19 panic low, suggesting that traders continue to sell at every opportunity. However, Bitcoin (BTC) did not violate its May 19 panic low at $29,257.95, indicating buying at lower levels. John Bollinger, the creator of the . . . → Read More: Price analysis 5/24: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, BCH, UNI, LTC Canadian Dollar Technical Price Outlook: USD/CAD Weekly Trade Levels Canadian Dollar strength in full view with USD/CAD near six-year-lows. USD/CAD oversold on Weekly and showing RSI divergence on Daily, may lead to pullback themes towards lower-high resistance. Advertisement It was an ideal fundamental backdrop for USD/CAD bears over the past month. While USD/CAD . . . → Read More: Canadian Dollar Forecast: USD/CAD Probes for Low, Loonie Levels Ether’s futures premium has gone through a complete cycle, from April’s extreme euphoria to the present level, which is the most bearish in six months. Believe it or not, in both situations, Ether’s (ETH) price was roughly $2,100. This change shows how investors’ mood depends on a few weeks’ performances and holds no relation . . . → Read More: Wishy-washy bulls turn bearish on Ethereum price despite positive data On Thursday, the price of Ether (ETH) surged from $2,443 to almost $3,000 — a 13.55% climb, according to Coinbase data. The strong intraday upside move appeared a day after ETH’s 27.61% price crash. It thus raised hopes that the second-largest cryptocurrency by market capitalization would eventually recover in the days ahead. But the . . . → Read More: Dead cat bounce? Ethereum jumps 20%, while ETH inflows to exchanges soar Japanese Yen Talking Points USD/JPY appears to be stuck in a narrow range as longer dated US yields remain under pressure, but fresh data prints coming out of the US may influence the exchange rate as the Federal Reserve braces for a transitory rise in inflation. Advertisement USD/JPY Attempts to Reverse Ahead . . . → Read More: USD/JPY Attempts to Reverse Ahead of Monthly Low with US PCE on Tap US Dollar, USD/CAD, EUR/USD, COT Report –Analysis US Dollar Shorts Grow for 5th Consecutive Week Canadian Dollar Positioning Looking Stretched Swiss Franc Net Shorts Rise, Despite Strong Spot Performance Canadian Dollar Positioning Looking Stretched, EUR/USD Bulls Rising – COT Report In the latest reporting week, US Dollar shorts rose for . . . → Read More: Canadian Dollar Positioning Looking Stretched, EUR/USD Bulls Rising – COT Report Euro (EUR/USD)Price, Chart, and Analysis EUR/USD struggling with 1.2200 – bigger test lies ahead. Quiet start to a quiet week. A week that starts with little on the economic calendar to get traders motivated may see EUR/USD treading water ahead of a clutch of more interesting data points that start tomorrow. All of . . . → Read More: EUR/USD Price Latest – Stubborn Multi-Month Resistance Remains Dominant The volatility of the cryptocurrency space was on full display again on Monday as several altcoins experienced gigantic price rebounds following the market crash of the past week or so. Two altcoins, in particular, doubled in value in just over 12 hours leading into Monday morning as Polygon (MATIC) and Maker (MKR) recorded . . . → Read More: Altcoin day trading madness: 100% rebound in hours for Polygon, Maker GBP/USD, EUR/GBP Price Analysis & News GBP/USD Outlook Remains Constructive EU/UK Real Rates Signals Higher EUR/GBP GBP/USD: Despite the slew of better than expected UK data, price action in GBP had been slightly disappointing as the currency failed to top its YTD peak. That said, the outlook remains encouraging for GBP/USD, which . . . → Read More: British Pound (GBP) Latest: GBP/USD Bulls Persist, EUR/GBP Upside Risks Rising Advertisement Global markets were quite choppy this past week. This could follow signs of deteriorating risk appetite judging by recent performance of highly speculative assets. Bitcoin and Ethereum, for example, plunged deeper into bear market territory due to investors fleeing major cryptocurrencies en masse. Equities have been fighting headwinds as well with . . . → Read More: Markets Week Ahead: EUR/USD, Gold, Oil, Bitcoin, Dow, DAX, Inflation, RBNZ NASDAQ 100 FUNDAMENTALFORECAST: BULLISH The Nasdaq Composite fell 3.5% while the Dow Jones gained 8.4% since mid-February The gap could narrow as a pullback in commodity prices cools inflation expectations Weekly jobless claims hit a fresh pandemic low, underpinning economic strength The technology sector extended higher towards the end of the week as . . . → Read More: Nasdaq 100 May Start a Catch-Up Rally as Inflation Pressure Eases CRUDE OIL HIGHLIGHTS: Crude Oil Bulls Take a Hit Iran Nuclear Deal looking Likely In the Near Term Advertisement Crude Oil Bulls Take a Hit Having looked in control with Brent crude futures testing $70/bbl, oil bulls were given an unpleasant reminder that sentiment in the complex can change sharply without warning. That . . . → Read More: Crude Oil Forecast: Iran Nuclear Deal Nears, Oil Bulls Unwind US DOLLAR FUNDAMENTAL OUTLOOK: TREASURY YIELDS, INFLATION, FED TAPERING IN FOCUS US Dollar weakened another -0.3% on balance last week as bearish conviction dominates FOMC officials are creating headwinds for Treasury yields with transitory inflation rhetoric Risk to US Dollar outlook seems tilted to the upside while the Fed taper debate intensifies Visit the . . . → Read More: US Dollar Forecast: Yields, Inflation, Fed Taper Debate Are Key Gold Price Forecast: Bullish Gold attracts investors as Bitcoin continues to deteriorate Money managers resume adding to their gold positions XAU/USD has Personal consumption expenditure data in focus Gold prices moved higher for a third consecutive week as the yellow metal continued to attract institutional and retail traders’ attention. The bullish price action . . . → Read More: Gold Price Outlook: XAU Strength Likely to Continue on Dovish Fed, PCE in Focus Bitcoin (BTC/USD), Ethereum (ETH/USD), and Alt-Coin Analysis and Charts: Bitcoin, Ethereum slump 40% in hours. US Treasury seeks stricter cryptocurrency tax compliance. Wednesday’s huge sell-off in the cryptocurrency market saw a wide range of coins and tokens lose between 30% and 50% of their value in a few hours as indiscriminate selling shattered . . . → Read More: Bitcoin, Ethereum, Alt-Coins – Buyers Beware, Bullish Sentiment Broken, IRS Weighs In [embedded content] AUDUSD and Technical Patterns Talking Points: AUDUSD is developing a head-and-shoulders pattern within a larger head-and-shoulders pattern Head-and-shoulders patterns are reversal patterns, so a key element is a strong prevailing trend to turn The build up over the past month doesn’t have a strong rally while the larger pattern over . . . → Read More: AUDUSD: The Critical Ingredient for Head and Shoulders Patterns Christine Lagarde has secured the top spot at the ECB (European Central Bank), despite coming from a non-traditional background of a Central Banker. Lagarde’s unconventional career trajectory has been a difficult yet prosperous one, allowing her to achieve a series of historical firsts along the way. As a proud advocate for women’s rights, . . . → Read More: 7 Surprising Facts About ECB Powerhouse Christine Lagarde Bitcoin (BTC/USD) Price Outlook: Bitcoin Price May Be in Peril After Losses Reshape Technical Landscape Bitcoin may be vulnerable to further losses and volatility as risk appetite waned and cryptocurrency sentiment soured throughout the week. Price action has seen BTC/USD crater beneath multiple levels of support as corporations walked back their adoption plans . . . → Read More: Bitcoin Price May Be in Peril After Losses Reshape Technical Landscape STOCK MARKET FORECAST: NASDAQ COMPOSITE MIRRORING TREASURY YIELDS, INFLATION FEARS Nasdaq price action pressured during Friday morning trade as Treasury bond yields jump Flash US PMI data just released by IHS Markit shows business activity accelerating in May Treasury yield volatility surrounding inflation and Fed taper fears to dominate risk trends Advertisement The . . . → Read More: Stock Market Forecast: Nasdaq Slides on Strong US PMI Survey British Pound Talking Points GBP/USD approaches the 2021 high (1.4241) as it extends the advance from the start of the month, and fresh remarks from Bank of England (BoE) officials may keep the British Pound afloat as the central bank slows the pace of its weekly asset purchases. Fundamental Forecast for British . . . → Read More: British Pound Eyes 2021 High Ahead of Bank of England (BoE) Testimony EUR/USD Rate Talking Points EUR/USD tracks the range bound price action from earlier this week as European Central Bank (ECB) President Christine Lagarde offers a dovish guidance following a Eurogroup meeting in Lisbon, but looming developments in the 50-Day SMA (1.1983) may instill a bullish outlook for the exchange rate as the moving . . . → Read More: EUR/USD Outlook: 50-Day SMA Establishes Positive Slope Despite Dovish ECB Broad based sell-off in cryptocurrencies Elon Musk flexes his crypto muscle as Twitter influence surges Federal Reserve policy meeting alleviates recent dollar weakness Advertisement Cryptocurrency Correction On Wednesday this week, the crypto market was hit by a massive downturn after Chinese regulators clamped down on the use of cryptocurrencies within their financial . . . → Read More: Crypto Mania, Elon Musk, U.S. Dollar – FinTwit Trends to Watch Gold (XAU/USD) Analysis, Price and Chart Multi-week bullish channel under threat A consolidated break higher could open the way to $1,960/oz. The technical outlook for gold remains positive for the coming, especially if the precious metal can make a confirmed breakout from the multi-week bullish channel. Gold has risen by more than $200/oz . . . → Read More: Gold Price Technical Outlook – Looking at a Topside Break of the Bullish Channel EUR/USD, EUR/JPY Price Analysis & News Euro Area PMIs: A Mixed Bag EUR/USD Holds Support EUR/JPY Uptrend Remains Despite Pullback PMI RECAP: A rather mixed set of PMI figures relative to expectations and subsequently providing little in the way of a notable reaction in the Euro. French PMI beat estimates across the . . . → Read More: Euro Latest: EUR/USD, EUR/JPY Price Action Set-Up, EU PMIs Mixed Coinciding with news that United States President Joe Biden’s proposed tax plan would require tax reporting on business transactions exceeding $10,000, the value of privacy coin Monero (XMR) climbed 31% on Friday. Biden’s American Families tax plan would require exchanges and custodians to implement tighter reporting measures to help detect tax evasion and . . . → Read More: Privacy coin Monero pumps 31% amid US taxation plans Canadian Dollar Talking Points USD/CAD attempts to retrace the advance following the update to Canada’s Consumer Price Index (CPI) as it pulls back from a fresh weekly high (1.2144), but the exchange rate may continue to carve a series of higher highs and lows as the Relative Strength Index (RSI) bounces back from . . . → Read More: USD/CAD Bullish Price Series Intact Ahead of Canada Retail Sales GBP/USD Analysis: Positive Jobs data incapable of ushering GBP/USD to new yearly high GBP/USD continues 14-month bullish run despite bearish engulfing candle Mixed sentiment reading hints that the pullback may continue Advertisement UK Jobs Data and Inflation Figures Produce Opposite Effects The UK jobs data released on Tuesday was welcomed and buoyed GBP/USD. . . . → Read More: British Pound (GBP/USD) Analysis: Bearish Engulfing Denies Retest of Yearly High Bitcoin (BTC/USD), Ethereum (ETH/USD), and Alt-Coin Analysis and Charts: Bitcoin, Ethereum recovery continues off multi-month lows. Price volatility at record highs. Wednesday’s huge sell-off in the cryptocurrency space saw the market’s capitalization fall by around $1 trillion from the high seen earlier this month. The crash, fueled by stories of China widening its . . . → Read More: Bitcoin (BTC), Ethereum (ETH) Rally Remains Brittle, Volatility at Extreme Levels EUR/USD Price Analysis & News USD Pop on FOMC Pared EUR Reclaims 1.22 With Focus on PMI AUD/JPY Continues to Track Cryptos Recap: The main comment that had grabbed the markets attention in the FOMC minutes was that “A number of participants suggested if the economy continued to make rapid progress toward . . . → Read More: US Dollar Jump on FOMC Faded, EUR/USD Recovers CRUDE OIL OUTLOOK: Crude oil prices drop with stocks as FOMC minutes feed inflation debate Wall Street index futures warn that deeper losses are in the cards ahead Technical positioning hints WTI may fall to challenge the $60/bbl figure Crude oil prices fell as investors’ mood broadly soured across global financial markets yesterday. . . . → Read More: Crude Oil Price Drop May Continue on Inflation Impact Fears EUR/USD Rate Talking Points EUR/USD appears to be under pressure after taking out the February high (1.2243) as the European Central Bank (ECB) warns that the “risks to financial stability remain elevated,” but the exchange rate may continue to exhibit a bullish behavior as it extends the series of higher highs and lows . . . → Read More: EUR/USD Bullish Price Series Intact After Clearing February High The United States’ banking regulator, the Office of the Comptroller of the Currency, is set to review cryptocurrency-related rulemaking following Brian Brooks’ departure. Michael Hsu, the newly-appointed Acting Comptroller of the Currency, has requested a staff review of former OCC rulemaking regarding the crypto industry as part of his testimony before the House . . . → Read More: New OCC head requests review of cryptocurrency rules Canadian Dollar Price (USD/CAD), News, and Analysis: Long-term downtrend stalls ahead of FOMC. Dragonfly Doji and IGCS suggest a possible move higher. The multi-month USD/CAD sell-off has come to a halt as market participants wait to hear details of the last FOMC decision later today. Traders will parse the minutes for commentary on . . . → Read More: USD/CAD Outlook – Daily Price Chart Hints at a Reversal, All Eyes on The Fed Minutes Bitcoin (BTC) is down almost 30% in the last seven days and this dip has triggered an almost commensurate plunge in the percentage of wallets in profit. Data from crypto data provider Glassnode shows that Bitcoin price drawdown has led to almost a quarter of unique on-chain entities being at a loss. This situation . . . → Read More: Nearly a quarter of unique Bitcoin wallets at a loss amid $15K price dump Crypto promotional schemes are old hat in the industry, with many businesses trying to secure customer loyalty through a range of perks and mini handouts. For BlockFi, however, its latest promotional offer has gone topsy turvy, after the platform mistakenly paid out oversized rewards in Bitcoin (BTC). One BlockFi user allegedly received a . . . → Read More: BlockFi mistakenly credits users with too much Bitcoin in promo payout Bitcoin (BTC) has hit its lowest price since Feb. 8 and is struggling to maintain $40,000 — but is Elon Musk wholly to blame? Cointelegraph takes a look at other factors working against Bitcoin bulls this week as the market returns to levels that some thought would never appear again. USD bounces off multi-month . . . → Read More: Stocks, China and the dollar: 3 reasons why Bitcoin price is tanking below $40K Bitcoin (BTC) was trading at $5,000 higher in South Korea than in other markets on Wednesday as capital flow controls continue to enforce the “kimchi premium.” While Bitcoin was trading at $39,932 on Coinbase at the time of publication, the price on the Korea-based Bithumb exchange stood at $45,115. According to a recent . . . → Read More: Bitcoin $5K ‘kimchi premium’ returns while gold prices surge in Korea Key Talking Points: Bitcoin drops more than 40% since Coinbase DPO Losses in the crypto space accelerate as China bans digital currencies Ethereum struggling to find support Advertisement This month is shaping out to be one of the worst on record for cryptos. The listing of Coinbase seems to have been the starting . . . → Read More: Crypto Meltdown Continues – Bitcoin (BTC/USD) Slumps Below $40,000, Ether (ETH/USD) Gives In To Sellers GBP/USD, EUR/GBP Price Analysis & News UK Broadly In-line with Estimates, 2% Likely in Summer GBP/USD Falters At YTD Peak EUR/GBP Remains Rangebound UK Inflation:Unlike the US, the UK CPI figures were broadly in line with expectations in which the headline figure rose 1.5%, above expectations of 1.4%, while the core figure . . . → Read More: British Pound (GBP) Latest: GBP/USD Challenges Peak, EUR/GBP Unlikely to Break Out US DOLLAR, FOMC MINUTES, FED, USD/JPY – TALKING POINTS: US Dollar may rise if FOMC minutes reveal debate about inflation A risk-off backdrop may further aid USD as haven demand swells USD/JPY trying to resume upward momentum after support test A relatively quiet offering on the European economic data docket seems likely to . . . → Read More: US Dollar May Rise if FOMC Minutes Reveal Inflation Debate US DOLLAR PRICE OUTLOOK: DXY INDEX HITS 12-WEEK LOW AS INFLATION FEARS WANE US Dollar bears drive the Greenback down to its weakest level since late February DXY Index now trades in the red year-to-date after falling -4% from its March peak Softer Treasury yields due to less fear of Fed tapering likely fueling . . . → Read More: US Dollar Outlook: DXY Index Hammered as Treasury Yields Ebb Tesla (TSLA), ARKK, Nasdaq 100 and S&P 500 Talking Points: Markets move in cycles, and the variance in recent performance amongst the markets noted in this article is compelling. While the Nasdaq 100 led the charge from last March’s lows, recent performance has seen the S&P with more strength than the tech heavy index. . . . → Read More: Tesla, ARKK, Nasdaq 100 and S&P 500: Varying Stages of the Cycle |
|
|||
|
Copyright © 2024 bitcoin, btc, cryptocurrency, investment, trading, ptc, gpt, online business opportunity - All Rights Reserved |
|||||
