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 […]
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 […]