Top News and Analysis

Bitcoin (BTC/USD) Price Holds Steady as Accumulation Trend Signals Potential Breakout

Bitcoin's price has been range-bound between $58,500 and $61,600, influenced by market caution and various risks. The US government's sale of $594 million worth of Bitcoin, part of confiscated Silk Road funds, adds to market uncertainty. A shift towards Bitcoin accumulation, especially among large wallets and long-term holders, suggests renewed market confidence. Double Bottom pattern hints at a potential bullish rally. Will the range be broken? Most Read: Brent Crude – Oil eyes range breakout

15-08-2024 10:40 GMT by Zain Vawda

USD/CAD Consolidates at Support Ahead of Canadian Employment Data

USD/CAD found support ahead of Canadian employment data release. Positive US jobless claims data boosted sentiment and USD. Bank of Canada hopes for moderation in unemployment rate following 50 basis points of cuts. Most Read: Japanese Yen (JPY) Price Action: Following Dovish BoJ Comments, What Does Price Action Tell Us? USD/CAD seems to have found support ahead of crucial employment data set for release tomorrow. The Canadian economy, particularly its job market, has struggled more than its co

08-08-2024 10:05 GMT by Zain Vawda

S&P 500, Nasdaq 100 Slide Ahead of Microsoft (MSFT.O) Earnings

The S&P 500 and Nasdaq 100 continue their slide following underwhelming earnings reports and poor risk sentiment. Microsoft's Q4 earnings are anticipated to be $2.94 EPS on revenue of $64.5 billion, with cloud revenue expected to reach $36.8 billion. Investor focus is on AI earnings and future spending plans. JOLTZ job openings exceeded expectations, and coupled with easing inflation, rate cut discussions are prevalent.

30-07-2024 13:31 GMT by Zain Vawda

USD/JPY Declines Sharply as BoJ Considers Rate Hike Next Week

The Japanese Yen is gaining against its G7 counterparts due to rumors that the Bank of Japan (BoJ) will reduce bond buying and potentially raise interest rates. Governor Ueda has emphasized wage growth as a key factor, and both average wages and average cash earnings YoY have shown a steady upward trend. Japan is set to establish a national minimum wage standard of 1,054 yen per hour on average, the largest increase ever. Most Read: Oil Price Update: Brent Holds Critical Support Amid US Inv

24-07-2024 13:28 GMT by Zain Vawda

Bitcoin (BTC/USD) Slips Following Mt. Gox Movements, ETH ETF to Go Live

Bitcoin prices have fallen from their recent high due to concerns over Mt. Gox repayments. Despite the drop in Bitcoin's price, BlackRock's spot Bitcoin ETF saw its largest inflow in over four months. From a technical standpoint, Bitcoin found support over the weekend but a hanging man candlestick close hinted at potential downside. ETH ETF to go live.

23-07-2024 12:57 GMT by Zain Vawda

FTSE 100 Consolidates, S&P 500 Faces Critical Test, Earnings Ahead

The FTSE 100 is currently consolidating, trading within a range, with the possibility of a significant breakout. Glencore and Anglo American experiencing declines while Compass reports strong revenue growth.

23-07-2024 06:55 GMT by Zain Vawda

USD/CAD Eyes Breakout as Oil Price Slide Continues, BoC Meeting Next

USD/CAD is nearing a breakout after being range-bound since April, potentially driven by falling oil prices and a weakening Canadian Dollar. The Bank of Canada (BoC) is expected to cut rates this week due to rising unemployment, falling consumer spending, and slowing GDP per capita. However, the rate cut may already be priced in, limiting its impact on USD/CAD. Most Read: Weekly Market Outlook: US PCE, GDP, and Earnings Expected to Drive Volatility USD/CAD is back at the top end of the wedge pa

22-07-2024 11:24 GMT by Zain Vawda

Safe Havens Gain Favor Amid Geopolitical Tensions and US Election Uncertainty, Gold Above $2400/oz, DXY Slips

Increased geopolitical tensions in the Middle East and US election uncertainty have caused a rise in safe-haven demand, particularly for Gold. The US Dollar has weakened due to concerns about a potential Kamala Harris presidency and its implications on the economy. Market sentiment is expected to be driven by US election developments and geopolitical issues in the first half of the week.

22-07-2024 04:20 GMT by Zain Vawda

Weekly Market Outlook: US PCE, GDP, and Earnings Expected to Drive Volatility

This week, markets were influenced by trade war fears, US political developments, and a global cyber outage. In Asia, the Japanese yen weakened, and Chinese authorities remained silent on economic goals despite weak data. Next week, US PCE and GDP data, along with Euro Area and UK PMI data, and potential Chinese economic measures will be key drivers of market volatility. The Nasdaq 100's weekly chart shows a potential evening star candlestick pattern, hinting at further downside. Read More: JPY

19-07-2024 11:53 GMT by Zain Vawda

Bitcoin (BTC/USD) Soars Amidst Surging ETF Inflows

Increased investor confidence fueled by a $1.04 billion inflow into Bitcoin Spot ETFs. Bitcoin miners, particularly in the US, are accumulating Bitcoin in anticipation of another potential rally, with Marathon Digital Holdings aiming to significantly increase its hashrate. Technically, Bitcoin's breakout above a long-term descending trendline suggests further upside potential. Most Read: Oil Price Update – Oil Prices Hold Firm as Chinese Demand Concerns Rise

15-07-2024 11:43 GMT by Zain Vawda

USD/CAD stalls after Canadian PMI data and Fed Chair Powell's remarks. Where to next?

USD/CAD is rangebound, frustrating traders, thanks to a host of factors from rate differentials to rising oil prices. Canadian PMI data has been softer than expected, with decreased output, new orders, and employment. Stronger oil prices have kept the Canadian dollar supported of late.

02-07-2024 13:05 GMT by Zain Vawda

EUR/USD Price Action - Technical Analysis

EURUSD continues its attempt to reverse back above the 1.1000 level but has been unsuccessful so far, the current trading range is critical, and any real breakout may help in forecasting future price action, we will go over a long-term as well as a short-term timeframe reflecting the current price action. Talking Points Weekly Chart - Longer Term Patterns overview 1-Hour Chart - Short Term and current price action Weekly Chart Price continues to trade below its ascending channel as identif

09-01-2024 10:08 GMT by Moheb Hanna

AUD/JPY Technical Analysis Overview - FX Pairs to Watch

Talking Points Weekly Chart Technical Analysis Short Term formation before Non-Farm Payroll Weekly Chart Price was trading within an uptrend that began mid-year 2020 and may still be in place, however, the trend acceleration pace slowed once the FED began raising Interest Rates in early 2022, and price action continued sideways failing to make new highs since then. Price found resistance multiple times near the RED Resistance line identified on the above weekly chart near level 98.00 The ov

05-01-2024 00:21 GMT by Moheb Hanna

EUR/USD: Dollar softens as Treasury yields slide

Dollar falls four out of five days to euro as 10-year Treasury drops 14.8bps to 4.655% Atlanta Fed GDPNow estimate for Q3 rose from 4.9% to 5.1% Treasury 3-year auction sees lowest bit-to-cover since February; 2.50 v 2.75 prior Fed speak remains dovish; Waller refrains from commenting on near-term interest rate outlook The dollar is declining and US stocks are rallying after a steady dose of dovish Fed speak has traders convinced rate hikes are over. Also providing a boost to sentiment is the r

10-10-2023 15:22 GMT by Edward Moya

Dollar dips after SLOOS signals tightening lending standards across all categories

4.8% of Large & Mid-market firms in July say conditions tightened considerably, up from 3.2% in April. Commercial and Industrial loans for medium and large firms saw an increase in tightening terms (50.8% vs 46% prior) Fed rate cut odds for the December 13th meeting remained around 17.5% The Fed July Senior Loan Officer Survey (SLOOS) on Bank Lending Practices highlighted a that tightening lending standards occurred across all categories. The impact from the Fed's tightening cycle is clearly i

31-07-2023 14:33 GMT by Edward Moya

A reversal of fortunes for US banks and technology stocks

Prior underperforming US banks rallied last week where the SPDR Banks ETF rose by 6.76%, its best weekly gain seen in 14 months. The high growth technology concentrated Nasdaq 100, the top year-to-date performer, underperformed last week, dragged down by Tesla and Netflix ex-post earnings releases. Extreme positioning, and complacency bias in Nasdaq 100 increase the risk of a medium-term bearish reversal in technology stocks. In the past two weeks, we have seen the latest Q2 earnings releases o

24-07-2023 00:45 GMT by Kelvin Wong

China’s proxy stock market rallied, hawkish pause for RBA

US-China geopolitical tension remains on heat after the latest China exports curb on key metals for semiconductor chip production. China’s proxy stock market; Hang Seng benchmark stock indices rallied to a 5-day high. RBA left its policy cash rate unchanged at 4.10%, a pause after two consecutive interest rate hikes but hinted in its monetary policy statement is tilted towards a hawkish pause. Actions speak louder than words in geopolitics In the past two weeks, we have witnessed key officials

04-07-2023 02:00 GMT by Kelvin Wong

AUD/USD Technical: Positive momentum ahead of RBA

AUD/USD rallied by 97 pips from last Thursday, 29 June low of 0.6593. Staged a minor bullish breakout ahead of RBA’s monetary policy decision today. Watch 0.6630 key short-term support to maintain the current bullish tone. Since its 0.6593 minor low printed last Thursday, 29 June, the AUD/USD has managed to stage a rebound of 97 pips to print an intraday high of 0.6692 yesterday, 3 July ahead of Australia central bank, RBA’s monetary policy decision out later today at 0430 GMT. The interest ra

03-07-2023 21:33 GMT by Kelvin Wong

USD/JPY Technical: 142.25 resistance met with bullish exhaustion

The rally of USD/JPY has reached 142.25/142.50 key medium-term resistance ex-post BoJ monetary policy decision last Friday. Latest Commitments of Traders report on JPY futures on net large speculators’ open bearish positioning has reached close to a 3-year extreme. The next key related event will be the release of Japan’s nationwide inflation data for May on this Friday, 23 June. This is a follow-up analysis from our earlier publication dated 15 June 2023, “USD/JPY Technical: Bullish breakout f

20-06-2023 01:19 GMT by Kelvin Wong

China’s deflationary spiral bumps up FX risk aversion

China’s NBS Manufacturing and Non-Manufacturing PMIs for May have increased the risk of a deflationary spiral in China. A weaker Chinese yuan may be required to counter and smooth the adverse effects of the deflationary spiral at least in the short-term. Risk aversion has resurfaced in the FX market via weakness seen in the G-10 JPY crosses. In stark contrast to the recent findings of China’s manufacturing sector survey done by China Beige Book, a US-based data provider that has indicated a reb

31-05-2023 02:08 GMT by Kelvin Wong