The Bitcoin price rose just barely this Monday, though it remained range-bound despite optimism about possible interest rate cuts by major central banks this week along with weakness in the U.S. dollar. Bukele’s re-election draws little price attention amid little reference for Bitcoin. Bitcoin showed little price action even as El Salvador’s president, Nayib Bukele, […]
Daily technical analysis EUR/USD: Would the ECB cut interest rates?
According to the economic calendar results, headline and core inflation rates increased to 2.6% and 2.9% in May, higher than expected. This set of data suggests that the economic backdrop could benefit from a looser monetary policy from the Federal Reserve. Underlying prices for personal consumption expenditures, the Fed’s preferred measure of inflation, increased by […]
U.S. stock markets mixed ahead of jobs report release
U.S. stocks traded mixed ahead of a new month of trading after Wall Street’s major indexes posted strong gains in May. Bets on a rate cut in September increase after PCE data Wall Street indexes rose on Friday after data on the personal consumption expenditures price index, which is the Fed’s preferred indicator, met expectations […]
Ethereum readies its next major modernization called Pectra
It has been barely two months since Ethereum implemented its most recent network update. Currently, the heads of the world’s largest smart contracts blockchain are discussing a timeline for the next update. Ethereum’s top developers have set a goal of unveiling the next update, called Petra, by the first quarter of 2025, The Block reported […]
U.S. stock markets retreat from highs; Fed and Salesforce in focus
US stock indices fell on Wednesday and fluctuated after the Nasdaq index hit new highs, with attention focused on upcoming inflation data and more signals about interest rates. The Nasdaq Composite ended Tuesday up 0.6% at a new all-time high, supported by strong gains in Nvidia (NVDA), Wall Street’s third-biggest stock by market capitalization. The S&P 500 […]
Daily technical analysis EUR/USD: Bulls need further incentive
In an attempt to drive the EUR/USD price higher, the pair rallied yesterday, reaching the resistance level of 1.0889 before stabilizing around 1.0850. Recently, traders of the European currency (EUR) have been awaiting the German inflation figures. At the same time, the US dollar (USD) continues to rise ahead of the Federal Reserve’s policy tightening. […]
Dollar rallies on rising yields, euro on inflation expectations
In the early hours of Wednesday’s European session, the US dollar moved strongly in anticipation of key inflation data, taking advantage of growing expectations that the Federal Reserve will delay interest rate cuts until the end of the year. The dollar benefited from rising yields The dollar remains in a narrow range as traders cautiously […]
Outlook for This Week’s Most Important Economic Events
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 […]
Daily technical analysis 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 […]