The EUR/USD lost a third of a percentage point on Tuesday as investors huddle in anticipation of Wednesday’s PMI figures from both Europe and the US. Notably, PMI numbers will open the session in Europe today, with markets expecting a small uptick in Eurozone services PMI numbers to 53.0 in July, after posting 52.8 in […]
Ether ETFs Launch Trading with BlackRock Funds and More
Ether ETFs formally began trading in the US on Tuesday, bringing the world’s second-largest cryptocurrency into the mainstream for many investors and professional advisers. The new funds come from traditional issuers such as BlackRock and Fidelity, as well as cryptocurrency-specific firms such as Grayscale, marking another development in the gradual introduction of digital assets into […]
US Stock Markets Steady, Alphabet and Tesla Results to Set the Trend
US stock index futures stabilized on Tuesday ahead of key results from the important technology sector, which could indicate sentiment on Wall Street going forward. This and much more today in the stock market. On Monday, Wall Street showed signs of recovery thanks to a strong rotation into technology stocks, even though benchmark indices remained […]
Dollar Flat, Yen Strengthens Ahead of Bank of Japan Meeting
The US dollar traded flat on Tuesday in the European trading session, while the yen surged on suspicions of government intervention last week. Here’s what’s important in the currency market. Dollar Takes a Breather The dollar was able to stabilize on Tuesday, with traders showing signs of respite as they digest today’s volatile political situation […]
Outlook for the week of July 22-26
Key points to watch out for: Will Investors Strengthen Their Fed Rate Cut Forecasts? With investors increasing their Fed rate cut bets, the US dollar suffered during the first half of the week, despite recovering some ground last Thursday. After the softer-than-expected CPI data, Fed officials, including Chairman Jerome Powell, expressed confidence that price pressures […]
Asia’s First Bitcoin Inverse ETF to Launch in Hong Kong
Hong Kong is set to host Asia’s first exchange-traded fund (ETF) that will allow investors to bet against Bitcoin. CSOP Asset Management is launching the region’s new cryptocurrency-linked inverse ETF, Bloomberg and other media outlets reported on Monday. The new product is scheduled to begin trading on the Hong Kong Stock Exchange (HKEX) tomorrow, July […]
US Stock Markets Rise: Biden Withdraws His Presidential Bid and Tech Results Take Shape
US stock indices rose on Monday following President Joe Biden’s announcement that he is withdrawing his re-election bid. The markets bounced back from heavy losses last week amid a rotation in major technology stocks. Here’s what’s happening in the stock market. Futures rose, with Wall Street indices recovering from the previous week’s significant losses as […]
Dollar Falls on Biden Withdrawal, Euro Bounces Back After Losses
The dollar was lower on Monday after US President Joe Biden’s decision not to seek re-election, while the euro gained despite its not-so-strong tone after the European Central Bank’s meeting the previous week. Here’s everything you need to know about the major market currencies. Dollar loses ground amid political uncertainty The dollar lost ground after […]
Market Highlights for the Week: Inflation, Earnings, Oil
A busy week awaits the markets, with US inflation data that could cement expectations of a rate cut in September. Earnings season gathers momentum with the release of the results of major companies and many European banks. Meanwhile, Eurozone PMI data will highlight the run-up to the European Central Bank’s next rate cut. Here’s what […]
Daily Technical Analysis EUR/USD: Near 1.0900 Level Due to USD Weakness
EUR/USD is hovering around 1.0895 in early Asian hours on the first day of the week. The falling US dollar (USD) is helping the pair. Later in the session, German retail sales data for May will be released, followed by the Chicago Fed’s June National Activity Index. Increased expectations related to the Fed rate cut […]