Month: August 2024

Bitcoin price breaks above the consolidation zone between $57,000 and $62,000, signaling an impending rally ahead. US spot Bitcoin ETFs recorded net inflows of $506.40 million last week. On-chain data shows positive funding rates and a decreasing Miners Position Index, further giving chances for a bullish move. Bitcoin’s (BTC) price clings to gains on Monday

US stock markets closed on the highs on Friday, led by a surge in small caps. Last week: S&P 500 +1.4% Nasdaq Comp +1.4% DJIA +1.3% Russell 2000 +3.4% Toronto TSX Comp +4.1% Today, futures are tepidly higher with spoos up 8 pints, or 0.15%. Nasdaq futures are slightly lower. The S&P 500 is about

Gold price edges lower in Monday’s early European session.  Fed’s rate cut expectation and ongoing geopolitical tensions continue to underpin Gold price.  The US July Durable Goods Orders are due later on Monday.  The Gold price (XAU/USD) trades with mild losses near the $2,500 psychological support on Monday. However, the downside of the precious metal

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

Gaza talks in Cairo end without an agreement. Aiios is out saying: “Gaza talks will continue in the coming days through working groups to address issues and remaining details” Meanwhile on Sunday, the rockets were flying in Israel. Israel launched a preemptive airstrike on Hezbollah in southern Lebanon, reportedly using 100 jet fighters to hit

UPCOMING EVENTS: Monday: PBoC MLF, German IFO, US Durable Goods Orders. Tuesday: US Consumer Confidence. Wednesday: Australia Monthly CPI, Nvidia Earnings. Thursday: US Q2 GDP 2nd Estimate, US Jobless Claims. Friday: Tokyo CPI, Japan Retail Sales, Eurozone Flash CPI and Unemployment Rate, Canada GDP, US PCE. Tuesday The US Consumer Confidence is expected at 100.1

NZD/JPY gained ground on Friday’s session, mildly to 89.95. The RSI holds near neutral territory, indicating a balance between buying and selling forces. The MACD shows flat green bars, suggesting that momentum is stabilizing. The NZD/JPY currency pair is consolidating sideways within a familiar range below 90.00. Technical indicators display mixed signals, with the Relative

The crypto market will experience a new cliff unlock supply injection next week worth $164.2 million. SUI and Optimism will witness the highest unlock event worth more than $50 million and $40 million, respectively. Ethena, DYDX, YGG and PRIME are also set for unlocks above $4 million each. SUI and Optimism (OP) rallied on Friday,

Ethereum jumped by over 6% after Fed Chair confirmed that the central bank is looking to cut rates. ETH exchange net flows hit a two-month low after buyers moved over 283.9K ETH out of exchanges. Ethereum ETFs extend outflow streak to six consecutive days after Grayscale’s ETHE offset positive flows in Fidelity’s FETH. The top altcoin

Mexican Peso rallies sharply with USD/MXN falling over 2%. Mexico’s economy shows mixed signals, with Q2 GDP growth at 2.1% YoY but a contraction in economic activity, as Banxico debates the appropriateness of recent rate cuts. Powell’s speech at Jackson Hole hints at upcoming rate cuts. The Mexican Peso rallied sharply against the Greenback on

EUR/USD tipped into 1.1300 for the first time in over a year on Friday. Fed policymakers open the door to rate cuts during Jackson Hole. Coming up next week: key EU and US inflation prints. EUR/USD rallied into its second-best day of August, climbing seven-tenths of one percent as the US Dollar tumbles across the

Ripple whales holding between 1 million and 10 million XRP tokens slightly decreased their holdings between August 22 and 23.  XRP retail traders holding less than 1,000 tokens accumulated the asset, while whales dropped their assets.  XRP hovers around $0.60 at the time of writing, likely to extend gains by nearly 10%.  Ripple (XRP) trades

Gold prices jump over 1% after Fed Chair Powell hints at upcoming rate cuts, expressing confidence in inflation nearing the 2% target. The US Dollar Index (DXY) falls 0.82% to 100.68, as Powell’s remarks push traders to bet on a 50 bps rate cut in September. US 10-year Treasury yields drop five basis points to

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

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

Walmart CEO Doug McMillon The great stock market turnaround in August was impressive in many ways but when I take a step back, there was one big question being asked and answered: Is the Fed behind the curve? Within that question is a set of assumptions about the US economy and if you look at

Bank of America highlights that historically, the US Dollar Index (DXY) tends to rise from August through US election day in November, suggesting potential USD strength leading into the upcoming election. Key Points: Seasonal Trends: Since 1970, the DXY typically shows strength in August, weakness from September to mid-October, and then regains strength into late

The US dollar has fallen to new lows on the day pretty much across the board (not yet against GBP). The market is continuing to digest the Powell comments and it’s the front end of the yield curve where the strongest buying remains. US 2s are down 9 bps to 3.92% and near the lows

Oil pops to $74.00 with expectations of OPEC acting, taking place. Morgan Stanley cuts its Brent Oil price forecast by $5 to $80 per barrel for the end of 2024.   The US Dollar Index hovers around 101.00 ahead of Fed Chairman Powell’s speech.  Oil prices are rebounding slightly on Friday, extending Thursday’s gains after snapping

Canada June retail sales May was -0.8% Preliminary June was -0.3% Sales down 0.5% in Q2 Preliminary July +0.6% Ex autos +0.3% vs -0.2% expected Prior ex-autos -1.3% (revised to -1.2%) Ex autos and gasoline +0.4% vs -1.4% prior These are some good numbers from the Canadian consumer. The ex autos number for June is

The Indian Rupee strengthens in Friday’s early European session.  Fed’s dovish remarks, decline of crude oil prices and RBI intervention continue to underpin the INR.  Investors will closely monitor Fed Chair Jerome Powell’s speech on Friday.  The Indian Rupee (INR) attracts some buyers on Friday as the dovish US Federal Reserve (Fed) minutes and lower

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

USD sellers take a breather after four sessions of losses. Markets digest weekly Jobless Claims and August PMIs. Rate cut expectations remain high ahead of Powell’s words on Friday. The US Dollar (USD), measured by the US Dollar Index (DXY), indicated an incline above the 101.00 level during Thursday’s trading session. This occurs in a

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

Oil price flirts with a break below $71.00 ahead of US PMIs and Jackson Hole.  Market concern grows on the question if OPEC made a policy mistake in its earlier meeting.     The US Dollar Index hits a new low for 2024 and flirts with the 101.00 barrier. Oil prices eke out a very slight gain

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