Euro Jumps on Record Inflation, Dollar Tumbles on Poor ADP Job Data
Dollar tumbles broadly today as markets are staying in risk-on mode. Additional selling pressure is seen on the greenback after shocking poor ADP job data. On the other hand, Euro is lifted by another record reading in consumer inflation data....
EURCHF Struggles to Strengthen Positive Move
EURCHF is looking neutral in the short-term, hovering within the short-term simple moving averages (SMAs) and the 1.0360 support level. The bullish doji candle that was posted in the previous sessions, is suggesting an upside reversal move that will be completed if the pair...
Crypto start-ups are still raising serious cash despite a slump in prices
A bitcoin sculpture made from scrap metal is installed outside the BitCluster cryptocurrency mining farm in Norilsk, Russia, on Sunday, Dec. 20, 2020. Andrey Rudakov | Bloomberg | Getty Images Cryptocurrency start-ups are having a solid start to the year,...
After a huge year for growth, the U.S. economy is about to slam into a wall
Free food is handed out by the Brooklyn community organization PASWO during a weekly food distribution on December 08, 2021 in New York City. Spencer Platt | Getty Images Spurred by a massive inventory rebuild and consumers flush with cash,...
EURGBP Consolidates But Reserves Bearish Tilt
EURGBP has returned below its horizontally entwined 50- and 100-period simple moving averages (SMAs) following its fresh bounce at two-year low levels, which was curbed by the upper Bollinger band around 0.8359. The descending 200-period SMA is defending the bearish...
ISM Manufacturing Index Registers 20th Consecutive Month of Expansion in Spite of Omicron
January ISM manufacturing index fell to 57.6, just beating market expectations for 57.5. This marked a 1.2 percentage point decrease from the December reading of 58.8. New orders decreased by 3.1 percentage points to 57.9, while new export orders increased...
What Will Happen to Bitcoin in February?
Bitcoin rose 2.1% on the last day of January, ending the day at around $38,500. Ethereum added 4.3%, while other leading altcoins in the top 10 strengthened between 0.5% (XRP) and 9.2% (Terra). The total capitalisation of the crypto market,...
Gold Price Moved into a Short-Term Negative Zone Below $1,825
Gold price failed to clear the $1,850 resistance and corrected lower against the US Dollar. The price broke the $1,825 support level to move into a short-term negative zone. Besides, there was a break below the $1,800 level and the...
Dollar Skyrockets on Hawkish Fed, Sterling Trailing Behind
The FOMC meeting turned out to me more hawkish than expected and markets are now pricing in four to five hikes this year, instead of three. Dollar was given a strong boost and surged broadly to end as the strongest...
Weekly Economic & Financial Commentary: The Hawks in Full Control at the Fed
Summary United States: Moderating Growth and a More Aggressive Fed The economy had the wind at its back in 2021 with generous fiscal policy and an accommodative Fed. Inflation and supply chains were the key obstacles. In light of a...