Key points to watch out for: Will the CPI data interrupt the idea of ‘rising for longer’? The US dollar was able to stabilize this week, recovering a small portion of its losses following the release of CPI data showing that US inflation resumed its downward trend in April. This may have also given the dollar a chance to […]
Bitcoin trading today: around $68k, ether rises on ETF spot gains
Bitcoin prices were little changed on Monday on concerns over higher interest rates ahead of key US inflation data this week, while ether saw an extended rally on progress made on the creation of a spot exchange-traded fund. Other cryptocurrency prices were also subdued, as traders continued to lean towards the dollar amid waning optimism […]
EUR/USD Bears Point to 1.08 Support as The Key
The EUR/USD was unable to break or at least challenge the 1.09 level during the previous week, instead dropping to the 1.0850 level within tight ranges. Also, this week will be crucial as Friday brings important US inflation data. Recently, the minutes of the Federal Reserve’s May meeting indicated that inflation had not retreated further in recent […]
Dollar unchanged ahead of inflation this week
Most currencies in Europe and Asia were flat on Monday, while the dollar was unchanged in thin trading, awaiting more interest rate signals from the US ahead of key inflation data this week. Public holidays in the US and the UK limited market trading volumes. Similarly, most regional currencies experienced losses the previous week, after a series […]
Trading Hours Update: US Markets closed for Memorial Day
Indices and commodities affected As we observe Memorial Day, we want to inform our traders about the adjusted trading hours for this holiday. Memorial Day, celebrated on the last Monday of May, honors the men and women of the United States Armed Forces who have lost their lives in service to the country. Please note […]
Outlook for This Week’s Most Important Economic Events
Key points to watch out for: Will the CPI report bring the Bank of Canada’s rate cut closer? Inflation data will capture attention this week with the release of CPI figures in Canada, the UK, and Japan. Canada will lead this week with its CPI figures scheduled for release on May 21. The week will […]
Venezuela has banned crypto mining to guarantee electricity service throughout the country
The move is part of a recent crackdown that involves the confiscation of nearly 2,000 cryptocurrency mining devices in the fight against corruption. The Venezuelan government has joined the list of countries that disapprove of cryptocurrency mining due to its high electricity costs. According to a local news outlet, Venezuela’s Ministry of People’s Power for Electrical Energy has reported […]
U.S. stocks rise as more results and clues are awaited
US stock indices are barely higher on Monday, with sentiment somewhat guardedly optimistic as more signals about interest rates and earnings are expected this week. More signals from the Fed and PMI data are expected this week This week, the focus will be on further signals from the Federal Reserve about the future of interest rates, as […]
EUR/USD The Euro is Expected to Strengthen
Elsewhere in Europe, Eurozone PMI data, along with specific figures from Germany and France, will be released early. These are expected to show further growth in the services sector and a slight contraction in manufacturing. Additionally, consumer confidence in Europe is expected to improve significantly, reaching its highest level since February 2022. On the other […]
Ahead of the FOMC minutes and Fed speeches, the dollar remains steady
On Monday, the US dollar started the week steady, amid anticipation of upcoming changes to US interest rates. Dollar steady in anticipation of Fed minutes and new speakers Last week, the slowdown in US inflation influenced the dollar by increasing the likelihood of a Federal Reserve interest rate cut this year. However, the dollar recovered somewhat after […]