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Forex Forecast And Cryptocurrencies Forecast

First, a review of last week's events: EUR/USD. The US economy is showing impressive growth. Europe, on the other hand, is in a widespread lockdown and, apparently, is experiencing a second recession. The share of those who received at least one COVID-19 vaccine in the EU is 25.1%, while in...

Bitcoin Extends Plunge Amid Crypto Carnage

Cryptocurrencies have fallen sharply this morning, with Bitcoin extending its recent run of poor form. All digital coins had lost significant chunks of their gains, although some had managed to bounce off their lows. BTC was now 25% lower compared to its all-time high hit a couple of weeks...

Cryptocurrency Flash Crashes On Higher Capital Gains Tax Worries

Cryptocurrency prices crashed in the overnight session as the market worried about a new tax proposal by Joe Biden. According to Bloomberg, the president has suggested doubling the capital gains tax for the wealthy. US investors already face this tax if they hold their holdings for more than a...

Crypto Flash Crash Accelerates As Profit-Taking Intensifies

The Australian dollar rose in early trading after the Reserve Bank of Australia (RBA) published minutes of the recent meeting. These minutes shed colour into the reasoning of the bank’s decision to leave interest rates and quantitative easing policies unchanged. In them, the central bank committed to doing what...

Appetite For Risk Remains Strong As We Kick Off A Busy Week

Stocks and copper higher, dollar down Cryptos attempt recovery after weekend plunge Euro climbs to $1.20 ahead of ECB Lots of company earnings Sentiment at the start of this week remained positive for most risk-sensitive assets. European stocks followed Asian markets and US equities higher. Copper prices rallied while...

Cryptocurrences Attempts To Rebound After Double-Digit Losses

The Japanese yen strengthened against the US dollar after impressive data from the country. According to the statistics office, Japan’s exports rebounded in March as the global economy continued to recover. Exports rose by 16.1% in March after falling by 4.5% in the previous month. This growth was better...

Forex and Cryptocurrencies Forecast

First, a review of last week's events: EUR/USD. The past week was marked by two important economic events: impressively strong macro-statistics from the USA and a collapse in the yield of 10-year US government bonds. According to the data published on Thursday April 15, US retail sales jumped by +9.8% in...

Bitcoin Hits Record On Rising Excitement Before The Coinbase IPO

The US inflation jumped to 2.6% year-on-year in March, slightly higher than 2.5% penciled by analysts, and the halt in Johnson Johnson’s vaccine pulled away the attention from rising consumer prices to an endless pandemic that boosted to stay-home stocks. Worries of slower vaccination and steady US yields following...

US Inflation To Spur Fed Hawks, Bitcoin Aims Record

Bitcoin could renew record ahead of Wednesday's much-expected Coinbase IPO, as a good debut for Coinbase in Nasdaq will mark the first official juncture between the traditional financial avenue and the alternative crypto path. As such, a successful addition to Nasdaq should act as endorsement of cryptocurrencies by traditional...

Alibaba Rallies After Record Fine, Bitcoin Past $60K Before Coinbase IPO

Asian markets kicked off the week on a bearish note, but Alibaba shares rallied 8% in Hong Kong despite news that the company will pay a record antitrust fine of $2.8 billion for having abused its market dominance over merchants and its competitors. The curious positive reaction was partly...

Forex and Cryptocurrencies Forecast

First, a review of last week's events: EUR/USD. The U.S. economy continues to recover vigorously. The S&P500 index renews another high, the value of American Treasuries is growing and, accordingly, their yield is falling. And the dollar is falling along with it. However, the market, for the most part, is reacting not...

Bitcoin And Altcoins Drop As Profit-Taking Intensifies

The US dollar rose against other key currencies after the latest minutes by the Federal Open Market Commission (FOMC). In the meeting, the bank left its pandemic response tools like interest rates and quantitative easing unchanged as expected. In the minutes, the officials indicated that the current easy money...

Sunset Market Commentary

Markets In the absence of eco data, non-economic events were the main focus for trading today. Equity investors pondered potential further contagion from forced block selling of positions in Chinese tech shares and some US media firms that were linked to position squaring of the Archegos capital fund. For now,...

Forex Forecast And Cryptocurrency Forecast

First, a review of last week's events: EUR/USD. The dollar has periodically changed its status since the COVID-19 pandemic started, becoming either a safe haven currency or a risky asset for investors. For example, the US currency declined amid rising stock markets in November-December 2020. And since January, the dollar...

Forex Forecast And Cryptocurrencies Forecast

First, a review of last week’s events: EUR/USD. It has become clear following the meeting of the Open Market Committee (FOMC) that the US Federal Reserve does not intend to raise interest rates until at least 2023. The Fed is not going to change other parameters of the quantitative easing...

Panic Reflation, Oil Plunge And Bitcoin-Led Chip Shortage

The market sentiment is mixed. The Powell boost didn’t last long on the US equities which returned to the reflation setup. Investors sold tech stocks aggressively sending Nasdaq 3% lower during Thursday’s trading session. The S&P500 shed 1.48%, as Dow Jones (-0.46%) remained somehow resilient to Thursday’s sell-off. Banks...

Technoking, Bitcoin And The Fed

Technoking of Tesla Elon Musk now gets investors to a very unusual and completely unprecedented series of absurd discussions on what does he mean by his new title. So, the CFO's new title of ‘Master of Coins' is more understandable, as it actually refers to the company's $1.5 billion...

Bitcoin Retreats Ahead Of A Looming India Ban

The price of cryptocurrencies declined sharply as the market reflected on a potential ban in India. According to Reuters, the government is considering outlawing all digital currencies except those issued by the country's central bank. It will ban the exchanges, miners, and other important participants. India will become the...

Optimism – Backed Market Moves Don’t Look Like A Carnage

Global equity markets rallied as sovereign markets stabilized. The S&P500 (+2.38%) recorded its biggest one-day rally in nine months. Nasdaq closed 3% higher as investors returned to their growth darlings at cheaper prices. The US dollar extended gains against its major peers. Softer sovereign yields couldn't convince gold bulls to...

US Dollar Bounces Back As US Treasury Yields Retreat

The Australian dollar rose slightly against the US dollar after relatively weak manufacturing PMI data from China and Australia. Yesterday, a report by the National Statistics Bureau revealed that the manufacturing PMI fell from 51.3 to 50.6 in January while the non-manufacturing PMI fell to 51.4. Caixin also reported...

Forex and Cryptocurrencies Forecast

First, a review of last week's events: EUR/USD. As we expected, the speech by the head of the Fed turned out to be quite interesting. Jerome Powell presented to Congress a semi-annual report on monetary policy, from which it followed that not everything is as good as we would like...

So Many Headless Chickens

To say the overnight moves in financial markets were chaotic would be an understatement. This week, and last night, in particular, has seen enough headless chickens running around to send even Colonel Sanders into a cold sweat. I’ve been plant-based for two weeks now, so I am thinking about...

Asian Open: Powell And Cryptocurrencies Create Turbulence For Indices

A broad sell-off in cryptocurrencies exacerbated pressure on indices, which were already buckling under the strain of higher yields. Until Powell came to the rescue. Asian futures: Australia's ASX 200 futures have fallen by -0.37% to 6,766 Japan's Nikkei 225 futures have fallen by -0.36% to 30,060 Hong Kong's Heng...

A Mixed Day Ahead

The weekend was a quiet one on the news front, and that has set Asia up for a mixed start to the week. China held its 1 and 5-year Loan Prime Rates steady this morning as expected. However, it continued gently withdrawing liquidity via the repo market, ensuring that...

Forex Forecast And Cryptocurrencies Forecast

First, a review of last week’s events: EUR/USD. The sharp rise in bond yields in the US and Europe has hit not only the stock market, but also the “carry trade”, providing support to funding currencies, primarily the euro and the US dollar. Recall that the funding currency is usually...

Forex and Cryptocurrencies Forecast

First, a review of last week's events: EUR/USD. It often happens that monthly forecasts come true faster than weekly ones. That was what happened this time as well. Recall that only 30% of experts expected the EUR/USD pair to grow in the weekly perspective. In the transition to the monthly forecast,...

Reflation Trade Pushes Equities To New Records

Appetite for risk is not showing any signs of ebbing away. Asian stocks hovered near record highs in early Monday trade, with European and S&P 500 futures advancing further following a new record close for US indices on Friday. US 10-year Treasury yields also hit a post-pandemic high of...

Forex and Cryptocurrencies Forecast

First, a review of last week's events: EUR/USD. The dollar has been growing throughout the week, fueled by optimism about the imminent recovery of the US economy. The incidence of coronavirus is down sharply: in just three weeks since the peak, the 7-day moving average has dropped by almost 50%. And...

Musk Backs Dogecoin, Apple Car, Euro Slide Continues, BOE, Oil Rises, Gold Falls on Strong Dollar

US stocks are rising again as the reflation trade continues with the yield curve continuing to steepen. There is no main driver for the markets today. Treasury yields are not going anywhere, earnings from Merck, Unilever, and Yum are nothing to get excited over, and the retail-driven trading frenzy...

Memes Fades, Ethereum Rocks, USD Stays Firm

Indices attempt a recovery in a quiet day, dominated by sharp rallies in cryptrocurrencies and solid bounce in bond yields. The enthusiasm for meme stocks collapsed on Tuesday in a 60% drop in GME and 8% decline in silver. Below is the charts highlighting the latest record-breaking run by...