U.S. think tank Bitcoin Policy Institute is calling for the United States to reject Central Bank Digital Currencies (CBDCs) and look to Bitcoin (BTC) and stablecoins as alternatives. In a whitepaper shared on Sept. 27, authors including Texas Bitcoin Foundation executive director Natalie Smolenski PhD, and former Kraken growth lead Dan Held argue CBDCs would
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Gold prices slipped on Wednesday, as the dollar resumed climb after Federal Reserve officials reiterated the U.S. central bank’s resolution to maintain an aggressive policy stance to tackle soaring inflation. FUNDAMENTALS * Spot gold was down 0.3% at $1,624.81 per ounce, as of 0132 GMT. * U.S. gold futures dipped 0.2% to $1,632.4. * The
The currency markets have turned into consolidation mode temporarily. Sterling further stabilized after BoE said in a statement that the assessment of the government’s growth plan will be done at next “scheduled” meeting, ruling out an emergency meeting. Dollar is also taking a breather even though 10-year yield rose to the highest level since 2010.
USD/JPY grinds higher around 24-year top, probes three-day uptrend. BOJ Minutes highlights the need for vigilance on sharp yen moves. US 10-year Treasury bond yields rose to 12-year high, DXY renewed the highest levels since May 2002. No major data on calendar, Fed’s Powell may please bulls if managed to defend heavy rate hikes. USD/JPY
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The AUDUSD is testing the lows from yesterday at 0.64377. Looking at the weekly chart below, that low took the pair below the 61.8% of the move up from the 2020 low to the high reached in 2021 at 0.64615. After a move higher today took the pair back above that retracement level, the sellers
It’s odd that the report, from Bloomberg, indicates it will be with ‘Wall Street’. That could just mean the finance community but you’d think he would be more eager to meet with banks in the UK. In any case, he might have to resort to begging them to buy some gilts at this pace. UK
New Delhi, Capital markets regulator Sebi on Tuesday came out with a new framework for daily price limit for commodity futures contracts in a bid to resolve the difference in closing price at domestic exchange and global bourse. The Daily Price Limits (DPLs) define the maximum range within which the price of a commodity futures
Dollar edges mildly higher after better than expected consumer confidence reading, but stays range bound. Overall, the forex markets are in consolidation mode. Sentiment appears to be supported as US stocks open higher, which European indexes are steady. One focus for the rest of the day is US 10-year yield’s reaction to 4% handle, and
Larry Summers Cameron Costa | CNBC LONDON — Former U.S. Treasury Secretary Larry Summers on Tuesday warned that the U.K. has lost sovereign credibility after the new government’s fiscal policy sent markets into a tailspin. The British pound hit an all-time low against the dollar in the early hours of Monday morning, before recovering slightly on Tuesday, while the U.K.
US dollar recovers after September Consumer Confidence data. Stocks move off highs as US 10-year yield hits fresh highs. EUR/USD unable to sustain recovery, holds above lows. The EUR/USD dropped further after the beginning of the American session and hit levels under 0.9600. It is hovering at 0.9620/25, around the 20-hour SMA without a clear
This technical analysis brings me to a trade idea that I am taking when NQ is hovering around 11400 Some trading algos may be watching the following channel shown in the chart below Nasdaq technical analysis: Bottom band of the channel Watch the video of the Nasdaq futures Technical analysis and my trade idea: Trade
Much of the statement is lengthy and verbose as the central bank basically endorsed the government’s recent actions and ruled out any emergency rate hikes to be done in between its policy meetings. The statement on the latter reads: “As the MPC has made clear, it will make a full assessment at its next scheduled
Cryptocurrency exchange FTX US has secured the winning bid for the assets of crypto brokerage firm Voyager Digital with a bid valued at approximately $1.4 billion according to Voyager. Voyager said the bid was made up of the fair market value of its crypto holdings “at a to-be-determined date in the future” estimated to be
Gold prices rose on Tuesday as the dollar’s rally paused, but prices held close to a 2-1/2-year low on expectations of further policy tightening by the U.S. Federal Reserve in its efforts to quell soaring inflation. FUNDAMENTALS * Spot gold gained 0.6% at $1,631.89 per ounce, as of 0103 GMT. Prices hit their lowest level
Sterling’s free fall extends into Asian session today, even against the weak Euro which is pressured against all other major currencies. Dollar is currently the strongest one and would likely remain so for now. Yen, Swiss Franc and Canadian Dollar are also firm. Australian and New Zealand Dollar are mixed for now, but both are
GBP/USD picks up bids to refresh intraday high, extends bounce off all-time low. US dollar pares recent gains amid sluggish session, softer data, inflation expectations add strength to the DXY pullback. BOE resists taming GBP strength, UK policymakers refrain from reversing any measures announced recently. US data, Fedspeak will be crucial for directions, bears are
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