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Bitcoin ETFs noted consistent outflows throughout the week, totaling over $730 million.  BTC supply on exchanges is down 27% in the past six months, despite consistent profit taking by Bitcoin holders.  At the current price, nearly 82% Bitcoin holders are profitable, likely to realize gains and increase selling pressure on BTC.  Bitcoin touched $63,379, a

Pantera Capital released a report addressing Solana as a major player in the future of blockchain. Waning interest in meme coins could hamper Solana’s growth. Solana’s price drops briefly below $130 for the first time since May. Pantera Capital released a report on Friday stating Solana’s rising influence in blockchain, surpassing that of Ethereum amid

The week is coming to a close with the USD being the strongest of the major currencies. The JPY is the weakest.The gains in the greenback today were helped by stronger-than-expected flash PMI data that saw services index rise to 55.1 vs 53.7 expected, and the manufacturing rise to 51.7 above estimate of 51.0. For

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

Canadian Dollar sheds a fifth of a percent against Greenback. Canada saw an upswing in core Retail Sales, but industrial prices cooled. US PMIs beat the street, snubbing forecasts and ticking higher in June. The Canadian Dollar (CAD) is struggling to overtake the US Dollar (USD) on Friday, buckling under the weight of a thin,

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 Pound Sterling drops as dismal market mood and poor UK PMI weaken the impact of upbeat Retail Sales. Strong UK Retail Sales could weigh on BoE rate-cut hopes for August. Investors will keenly focus on the preliminary US PMIs for June  The Pound Sterling (GBP) remains on the back foot in Friday’s London session against the

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

Japan Chief Cabinet Secretary Yoshimasa Hayashi said on Friday that stable foreign change (FX) levels are desirable. Hayashi emphasized the importance of maintaining strong confidence in the Japanese Yen (JPY). Key quotes The addition of Japan to the US currency monitoring list does not mean that Japan’s foreign exchange policy is a problem Stable Forex levels

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

AUD/USD reversed part of the recent weekly recovery. The renewed upside impulse in the Dollar hurt the AUD. Next of note in Australia will be the flash PMIs on Friday. AUD/USD halted its recovery after two straight advances in a row, driven by improved sentiment in the US Dollar (USD) and a broad-based risk-off sentiment

Gold demand increases from investors bundling into safety as geopolitical risks escalate.  Israel’s threat of “all-out war” with Lebanon and Russia’s signing of an alliance with North Korea are intensifying concerns.  XAU/USD recovers and reaches a cross-roads level, bringing its ongoing bearish pattern into question.  Gold (XAU/USD) price awakens from its slumber on Thursday, gaining

On the optimistic change, Ifo says that: “The German economy is slowly working its way out of the crisis. New hope is now emerging. The second half of 2024 should be significantly better than the first. As the year progresses, the purchasing power of private households should continue to gain strength and the overall economic

USD/CAD gains ground near 1.3710 in Thursday’s early Asian session.  The weaker US Retail Sales data fueled Fed rate cut expectations and might cap the Greenback’s upside. The BoC policymakers worried about downside risks and the possibility of a widening divergence between Canada and the US. The USD/CAD pair trades with mild gains around 1.3710,

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

Ripple proponents have called out the SEC for dropping its investigation into Ethereum.  Consensys, an Ethereum developer, shared the news of the regulator’s response to a letter.  XRP is back under the $0.50 resistance in response to Ethereum’s free pass.  XRP trades back below $0.50 on Wednesday as Ripple (XRP) proponents like attorney Bill Morgan

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

EUR/USD fluctuates in a tight channel above 1.0700 on Wednesday. Near-term technical highlights the lack of directional momentum. US markets will remain closed in observance of the Juneteenth Holiday. EUR/USD struggles to find direction and fluctuates in a narrow band slightly below 1.0750 on Wednesday. The pair’s action could remain subdued as financial markets in

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/JPY consolidates its recent gains to the highest level since late April. The BoJ April meeting minutes fail to provide any impetus to the major. Tuesday’s disappointing US data weigh on the USD and cap the upside. The USD/JPY pair is seen oscillating in a narrow band during the Asian session on Wednesday and currently

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

US Dollar lost ground on lower-than-anticipated Retail Sales figures, which fuel dovish bets on the Fed. Markets are digesting comments from Fed officials for placing their bets on the rate cut cycle. Investors continue challenging the Fed and bet on more than one cut in 2024. On Tuesday, the US Dollar, as measured by the

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

EUR/USD holds steady above 1.0700 after posting gains on Monday. The pair could stretch higher in case risk flows dominate the action in financial markets. US economic docket will feature Retail Sales data for May. After struggling to gain traction in the first half of the day on Monday, EUR/USD turned north in the American

After the previous attempt to get above 158.00 stalled on Friday last week, dip buyers are showing up once again to test the figure level today. The slight bounce in bond yields this week is helping with that at least. But traders are not really showing much respect to BOJ governor Ueda’s remarks earlier in

AUD/USD holds positive ground around 0.6615 amid the softer US Dollar on Tuesday. The RBA is anticipated to keep rates steady at 4.35% at its June meeting on Tuesday.  The hawkish tones of the Fed officials might cap the upside for the pair in the near term. The AUD/USD pair snaps the three-day losing streak

A snapshot note via Westpacon their Australian dollar view. In brief: We anticipate wider and higher ranges for AUD in the month ahead. Volatile French politics will have their sway over the global risk climate, but a resumption of more encouraging US disinflation trends and revamped Fed rate cut bets should ultimately prove more decisive.

The US Dollar (USD) and the Pound Sterling (GBP) gain momentum while the Euro (EUR) and the Japanese Yen (JPY) lose track, strategists at Rabobank note. US shows the best performance in the FX “USD net long positions have increased for five consecutive weeks, driven by a decrease in short positions. Labor data came in

EUR/USD daily Goldman Sachs maintains its EUR/USD forecast at 1.05 for the next 3 to 6 months. The outlook is influenced by potential political uncertainties and the resulting policy divergence, which could weaken the Euro. Key Points: Political Uncertainty Impact: Euro Weakening: Political uncertainty, especially around elections, may erode progress in economic indicators, inviting further