The USDJPY is moving higher as the clock ticks toward the FOMC meeting minutes scheduled for release at the top of the hour. Looking at the daily chart for the USDJPY, the price has now moved above the low price from yesterday which was near the low price from the October 10 at 148.15. The
Month: November 2023
Share: Binance Coin price crashed by over 8% in the span of an hour, falling from $258 to $244 at the time of writing. The crash was the result of Binance agreeing to a $4.3 billion settlement with the US government. The US Justice Department alleged that CEO Changpeng Zhao violated criminal anti-money laundering requirements. After Binance CEO CZ resigned on
The price of gold is experiencing a significant upward surge. As of today, it has risen nearly $27, surpassing the $2000 mark and is now approaching its next target, the late October high of around $2009.42. The highest price reached today was $2007.54, indicating a pause near the previous high. A break above this level
After gains over the last 3 weeks, the major European indices are off to a modest declines today and for the week so far. The subdued activity occurred as investors anticipate the release of the Federal Reserve’s recent meeting minutes, hoping to find indications that the central bank might be concluding its cycle of interest
Blockchain technology, which was initially developed to support cryptocurrencies like Bitcoin, has rapidly evolved and found applications beyond the realm of digital currency. With its decentralized and transparent nature, blockchain offers numerous possibilities for revolutionizing various industries. Here are some prominent applications of blockchain technology beyond cryptocurrency: 1. Supply Chain Management Blockchain can revolutionize supply
Cryptocurrency, a digital or virtual form of currency that relies on encryption techniques, has gained significant attention in recent years. Bitcoin, the pioneering cryptocurrency, paved the way for many others to emerge. While it provides certain advantages over traditional financial systems, such as decentralization and increased privacy, cryptocurrencies are not immune to instability issues. One
Share: The Euro enjoyed a resurgence since the start of the month and continued to build gains last week. Economists at Société Générale analyze EUR/USD outlook. 1.0750 is likely to provide support EUR/USD has recently crossed the upper limit of a small base denoting a regain of upward momentum. This is also highlighted by daily
The notice says that the satellite will be launched in the direction of the Yellow Sea and East China Sea, with Tokyo and Seoul stating that this could be a third attempt to put a spy satellite into orbit – which would be a violation of a UN ban. For some context, North Korea had
USD GBP The BoE kept interest rates unchanged as expected at the last meeting. The central bank is leaning towards keeping interest rates “higher for longer”, although it keeps a door open for further tightening if inflationary pressures were to be more persistent. BoE Governor Bailey repeated that they will keep rates high for long
Share: Australian Dollar gains ground as Governor Bullock stated that inflation is a challenge. Australia’s central bank is optimistic that the progress in employment can be sustained. Chinese authorities are expected to provide additional stimulus measures to support the real estate sector. US Dollar weakens on improved risk appetite and lower US Treasury yields. The
The United Arab Emirates will increase its output target to 3.075 million barrels a day in January, or about 135,000 barrels a day more than it pumped last month. This is not new news, the agreement allowing the UAE to pump more was reached at the OPEC meeting in June. I’m posting it because Bloomberg
In this video, I take a technical look at all the major currency pairs including the: EURUSD, USDJPY, GBPUSD USDCHF, USDCAD, AUDUSD and NZDUSD) and discuss the bias, control, risk and targets as we head into the close of trading on November 20, and look toward the new trading day on November 21.
Share: XAU/USD Current price: $1,977 The US Dollar continues declining, with the DXY index hitting its lowest since August. Gold experiences a bearish correction, falling to $1,965, but later stages a rebound. Risks in the short term remain tilted to the upside. Spot Gold fell to $1,965 on Monday, extending the correction from levels near
In my last technical post on the GBPJPY last week, I spoke about the importance of the 100-hour moving average. That moving average has been a point of support (and resistance) going back in time as a market trended to the upside. Don Friday, the price fell below that 100-hour moving average and then used
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
The risk of a hard landing in the U.S. economy is growing and may even increase in 2024. Statistics show that the Fed has successfully curbed inflation by raising key rates. After hiking it 11 times, the U.S. Fed has contained its enthusiasm for three consecutive meetings by keeping the rate hike on pause. On
The cryptocurrency market has gained significant attention in recent years. With the rise of Bitcoin and other digital currencies, people from all walks of life have become fascinated with the potential of these decentralized financial systems. However, it is important to understand the market structure of cryptocurrencies in order to make informed investment decisions. Market
Blockchain technology has emerged as a revolutionary innovation in the world of transaction processing. With its decentralized and transparent nature, blockchain is transforming the way we conduct transactions across various industries. In this article, we will delve into the intricacies of blockchain technology and explore how it is ushering in a new era of transaction
Share: Economists at Citigroup expect the Swiss Franc (CHF) to weaken as the Swiss National Bank (SNB) may have ended its tightening cycle. CHF biased toward an extended period of underperformance The SNB’s pause at its September meeting at a 1.75% terminal rate likely signals an end to its tightening cycle which leaves CHF biased towards
In case you missed the news then: Sam Altman forced out as OpenAI CEO Microsoft CEO, Satya Nadella, has now come out with the news that Sam Altman alongside former OpenAI co-founder, Greg Brockman, will join the company to lead a new advanced AI research team. The full tweet can be found here. This is
Share: GBP/USD catches some bids for the second straight day amid the prevalent USD selling bias. Bets that the Fed will not hike rates again and a positive risk tone undermine the Greenback. Expectations that the BoE will start cutting rates in 2024 amid looming recession to cap gains. The GBP/USD pair attracts some dip-buying
Economy Minister Sergio Massa was the candidate for the ruling coalition. He has done the numbers, recognised defeat, and conceded in the presidential run-off. Libertarian lawmaker Javier Milei will be Argentina’s next president. Background to this: — Argentina’s economy has been smashed by triple-digit inflation, looming recession and rising poverty. The worst economic crisis in
Milei, on the left, leads Massa in the final polls Latin America’s second largest economy heads to the polls today in a major election featuring an outsider taking on Peronist economy minister Sergio Massa. Javier Milei has made major waves in saying he would abolish the central bank and dollarize the economy. A similar experiment
Share: According to on-chain data provider Look Onchain, Koronos Research, a crypto research, market making and investment firm, lost roughly $25.65 million worth of cryptocurrencies. According to official response from the company, the exploit seems to have occurred due to unauthorized access of API keys. Kronos Research added that their team ”has been working round the clock”
Share: With Bitcoin moving sideways, altcoins have exploded in the past few days. Injective, Avalanche, Optimism, Chainlink and many altcoins have returned double and triple-digit gains and could trigger a corrective wave soon. Double-digit corrections are more than likely in the second half of November, especially if BTC slides down. With massive rallies across the
Share: Poloniex investor Justin Sun published an on-chain message that was seemingly addressed to the hacker. Sun mentioned that he knows the exploiter’s identity and that the authorities from China, the US and Russia have been informed. Sun even offered the hacker a $10 million whitehat bounty to return the stolen $110 million funds. Poloniex
Share: Optimism price struggles below the $1.86 and $1.80 resistance levels. If OP produces a lower high below $1.86, it could signal the start of a downtrend. Such a development could trigger a 15% pullback. Invalidation of the bearish outlook will occur on the flip of the $1.86 support level. Optimism (OP) price has shot
Share: Yearn Finance price faces an immense sell-off, knocking the YFI token down by 40%. Profit-taking in altcoins is likely going to trigger double-digit losses for many altcoins. Bitcoin price continues to move sideways around the $36,000 region with no directional bias. Yearn Finance (YFI) price has suffered a massive selling spree that has resulted in
Share: The US SEC has delayed Franklin Templeton’s spot BTC ETF, adding to the list of shattered hopes this week. Along with it, the eight-day window has closes, setting the next calendar date of interest as January 10. Fidelity has also filed for spot Ether ETF, front-running this other narrative as hope for a spot
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