According to an analysis conducted by the U.S. Energy Information Administration (EIA), Bitcoin miners in the country consume the same amount of energy as the entire population of the state of Utah. And that’s referring to the lowest usage. Electricity use in mining operations equates to between 0.6% to 2.3% of demand across the entire […]
Daily Technical Analysis on XAU/USD: The trend continues to be supported
Recently, currency markets have been under pressure due to a much better performance by bonds, following a report that commented that U.S. companies have created more job opportunities and exceeded economists’ expectations. While this strength is a boon for workers and keeps the risk of a recession at bay, the concern could sustain some direct […]
Daily Technical Analysis on EUR/USD: Downtrend Gains Strength
Today, the EUR/USD will be affected by the Purchasing Managers’ Index reading for the services sector for both the Eurozone and the U.S. On the other hand, the U.S. Federal Reserve (Fed) held interest rates at 5.5% after its most recent monetary policy meeting, in line with market expectations. According to the statement released by […]
The five most important events of the week
Investors this week await the release of first-quarter results from the largest companies in the U.S. market and analyze interest rate signals following robust economic data in recent days. Federal Reserve (Fed) Chairman Jerome Powell says the Fed will be cautious about possible interest rate cuts. Boeing (B.A.) has warned of a new problem with […]
Daily Technical Analysis on GBP/USD: Trend remains unchanged
The GBP/USD is trading in anticipation of a policy update from the British Central Bank this week. The Bank of England (BoE) may not raise interest rates, as the bank has hiked wages. However, there is a lot of caution as inflation unexpectedly rose last month. This update will be next Thursday. Recently, the U.S. […]
The Federal Reserve keeps interest rates unchanged in the U.S.
The U.S. Federal Reserve (Fed) announced Wednesday that it has kept interest rates unchanged. The Fed stated it would consider lowering the target interest rate range once it is assured of achieving and maintaining a 2% inflation rate. “In reviewing the right stance of monetary policy, the Committee will continue to observe the implications of […]
Daily Technical Analysis on EUR/USD: EUR/USD looks to reach much stronger support levels
Those looking for a stronger dollar in the market may feel disappointment if the EUR/USD finds significant support in the 1.0825-1.0850 range. Consequently, a potential rebound may not occur if the Federal Reserve (Fed) fails to demonstrate a strong stance against the dollar, contrary to market expectations of a rate cut in March. Determining whether […]
Technical Analysis on XAU/USD: The Prices continue to rise
At the beginning of this week, advances and pullbacks have been evident in the XAU/USD price. For now, the only clear thing is that if you are thinking of buying in the short term, it is very likely that resistance is located at the level of USD 2,000, and if there is a break through […]
The five most important events to watch this week
It is expected to be an action-packed week in the markets with the first Federal Reserve (Fed) meeting, the results of technology companies, and the most recent employment report in the United States. Not to be left out, the Bank of England (BoE) will also hold its first meeting in 2024 to define its monetary […]
BYD misses its earnings forecast due to price war
BYD Co.’s earnings increased due to increased demand, although they fell short of expectations set by various analysts. This was due to a price war in China that affected all companies in that market. Sales in China offset the drop in global demand, increasing BYD’s preliminary net revenues in 2023 by about 75% year-on-year to […]