BTCUSD, also known as Bitcoin, has been stuck in a sideways trading pattern over the past few sessions. The sentiment surrounding this cryptocurrency has been deteriorating, especially after facing multiple rejections at the 50-day SMA. This lack of upward momentum has caused concerns among traders and investors. Downside Potential and Key Levels to Watch In
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A luxury yacht named Bayesian, carrying 22 people and anchored off the port of Porticello, was struck by a violent storm, resulting in the tragic sinking of the vessel. One person on board lost their life, and six individuals, including British tech entrepreneur Mike Lynch and his daughter, are still missing. Among the missing passengers
The USD/CHF pair has been struggling and losing ground, hovering around 0.8620 in the early Asian trading session. One of the major factors contributing to this decline is the market’s expectation of three quarter-point rate cuts by the Federal Reserve this year. This anticipation has significantly weakened the US Dollar, putting pressure on the pair
Recent developments in the U.S. inflation rate and labour market have created uncertainty in the currency market, leading to a bearish sentiment towards the dollar. This has caused key currency pairs, such as GBP/USD, to approach critical levels that could potentially trigger new medium-term trends. Technical analysis of GBP/USD indicates the possibility of a retest
Investor confidence is on the rise as anticipation builds for Federal Reserve Chair Jerome Powell’s upcoming speech. Stock markets around the world are showing signs of positivity, with Asian shares reaching a one-month peak and stock futures pointing towards a positive open in London and New York. The possibility of dovish rhetoric from Powell is
The New Zealand Dollar has shown strong gains in the Asian session on Tuesday, driven by positive market sentiment that has weighed on the US Dollar. Investors are closely watching the People’s Bank of China (PBoC) rate decision, as well as upcoming Fedspeak scheduled for Tuesday. The PBoC decided to maintain the one-year and five-year
Gold prices have been on a remarkable upward trajectory, with the precious metal hovering around $2500 per troy ounce. This surge can be largely attributed to the increased demand for safe-haven assets in light of ongoing geopolitical tensions. The focus remains on the conflict in the Middle East, especially with U.S. Secretary of State Antony
In today’s volatile market, investors are seeking ways to protect their investments from potential downturns. One strategy gaining attention is the use of buffer exchange-traded funds (ETFs) to mitigate risk while still gaining exposure to the market. Buffer ETFs, such as those offered by Innovator ETFs, provide investors with a level of downside protection while
The USD/JPY pair faced challenges in capitalizing on its slight upward movement during the Asian session, failing to maintain momentum towards the 148.00 mark. Currently hovering just below the mid-147.00s, the pair is at risk of continuing its retracement from the recent two-week high. One of the key factors hindering significant gains for the USD/JPY
The recent economic data coming out of China has painted a bleak picture of the country’s economic health. With new home prices plummeting, industrial output slowing, export and investment growth declining, and unemployment on the rise, the pressure is mounting on Beijing to take decisive action to jumpstart growth. While there were some data points
As investors turn their attention towards the potential for Fed rate cuts in 2024, the US dollar is facing a critical week. The upcoming FOMC Meeting Minutes on August 21 will be closely scrutinized, with a focus on the sentiment towards the US economy, the labor market, and the Fed rate path. These factors are
Indonesia’s outgoing government recently submitted a 2025 budget plan to parliament targeting a narrower deficit and higher expenditure than the current year. The budget proposal, worth 3,613.1 trillion rupiah, projects a deficit of 2.53% of GDP – narrower than this year’s 2.7%. This move signifies that Southeast Asia’s largest economy intends to remain fiscally prudent