June’s US Nonfarm Payrolls report exceeded expectations, further cementing the case for a Fed’s 75 bps rate hike. The consensus amongst ECB policymakers is for a 25 bps rate hike in July; September is still open. EUR/USD Price Analysis: Sellers in control might take a breather before launching an assault towards parity. EUR/USD remains subdued
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Peter Schiff’s bank closure strengthens Bitcoin case for financial freedom
The USD is trading lower as London traders look to exit for the day. The greenback is making new lows vs the: EUR CAD AUD, and NZD The GBPUSD is moving toward the Asian session high and the USDJPY is moving back toward closing levels from yesterday after trading to the highest level since June
Sri Lankan President Rajapakse and Prime Minister Wickremesinghe were forced to flee today after enormous anti-government protests. Huge crowds stormed official government buildings and took over the President’s home. Videos showed protestors swimming in his pool. The Prime Minister’s home was set on fire. The speaker of the legislature is trying to pull together an
Oil prices slipped in early Asian trade on Friday, following a rebound in the previous session, as investors remained torn between worries over tight global supplies and fears a recession could dampen oil demand. Brent crude futures fell 39 cents, or 0.4%, to $104.26 a barrel by 0013 GMT, dropping away from a near 4%
Euro ended as the worst performer last week on increasing worries of a deeper and longer recession. Selloff in the common currency also dragged down Swiss Franc, which ended as the second worst. Sterling was originally pressured by stabilized after UK Prime Minister Boris Johnson announced to step down after another scandal. But Yen was
The USD/JPY has been trading in a choppy 100 pip range for the last five days. The major seesawed spurred by the assassination of Japan’s ex-PM Abe and upbeat US economic data. USD/JPY Price Analysis: Range-bound, but the RSI’s aiming lower and USD/JPY uptrend overextended, might pave the way for further downside. USD/JPY is subdued as
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Crude oil settles between 100 and 200 hour moving averages The price of WTI crude oil is settling at $104.58, up $2.06 or 2.01%. The low for the day reached $101.54. The high reached $105.21. A week ago, the price closed the week at $108.48. The low this week reached $95.13 on Wednesday. The high
The US jobs report added 372K new jobs in June. That was higher than the 268K estimate. Admittedly, there was a revision of -74K over the last two months (with May revised to 384K from 390K). Nevertheless, if the current month was adjusted for that number, a net addition of 298K (372K – 74K revision)
Gold firmed on Friday as the dollar came slightly off two-decade highs, but bullion was set to post its biggest weekly drop in more than a month as the elevated greenback hit demand. FUNDAMENTALS * Spot gold firmed 0.3% to $1,744.07 per ounce by 0106 GMT. U.S. gold futures rose 0.2% to $1,742.50. * The
Recession fear is currently the main theme in the markets, with Euro and Sterling hardest hit in the currency markets. Canadian Dollar is somewhat a distant third weakest, as dragged down by oil prices. Nevertheless, Aussie and Kiwi are relatively resilient. Yen and Dollar are at par in strength for now. But they could soon
Wall Street turns positive on Friday, helping MXN. US jobs report shows better-than-expected numbers. USD/MXN corrects lower, the trend is still bullish. The USD/MXN is modestly lower on Friday still up for the week. It bottomed at 20.36, a three-day low before bouncing to the 20.45 zone. The outlook remains bullish for the pair. Fed
In an unexpected turn of events, Tesla CEO Elon Musk announced his intention to end the $44 billion Twitter deal via a letter sent to the board of the social media giant. In short, the world’s richest man is not happy with the lack of information Twitter provided about spam and fake accounts. According to
AUDUSD falls back below the 200 hour MA level The AUDUSD moved up to test the 38.2% of the move down from the June 16 high as the London fix was approaching. However, the price stalled ahead of that level at 0.6878 (the high reached 0.6874) and the price has since moved back below the
A commonly-heard refrain from those lamenting inflation is that the government gave workers too much money during the pandemic and that ‘nobody wants to work anymore’. Well workers weren’t the only ones who benefited from government largess. The enormous $800 billion Paycheck Protection Program — the largest and fastest of Washington bailouts — was a
Copper retreated in London on Friday and was on track for its fifth straight weekly loss, as worries about COVID-19 curbs in China outweighed hopes for stimulus for the top metals consumer. Three-month copper on the London Metal Exchange fell 0.5% to $7,780 a tonne by 0428 GMT. On the Shanghai Futures Exchange, the most-traded