Users are awaiting a hard fork of the Cardano network called Alonzo, which will allow the integration of smart contracts. It will happen during the Alonzo Purple update, which is slated to activate on September 12 – much earlier than investors expected. Currently, smart contracts are already available on the test net, where developers are performing the latest...
The BTC/USD pair grows supported by two key fundamental factors: the potential integration of the Twitter coin as a means of payment for Tip Jar and the official launch of BTC as legal tender in El Salvador on September 7. The wider distribution of cryptocurrencies in the world and the stabilization and development of the main competitor to "digital gold" – ETH...
USD grows as investors await a two-day US Federal Reserve meeting starting on Tuesday. According to forecasts, the head of the regulator Jerome Powell announces the tightening of monetary policy, in frequency, the timing of the reduction in the volume of purchases of bonds. On Sunday, US Treasury Secretary Janet Yellen asked Congress to raise the federal debt...
Expecting possible bullish movement in the following sessions.
German PPI data for August was released today. The indicator grew more seriously than the market had expected, to 12.0% instead of 11.4% YoY and 1.5% instead of 0.9% MoM expected. Thus, inflationary pressures in the first European economy increase, pushing the ECB to tighten monetary policy further. This month, the regulator has already reduced the pace of...
Possible upward correction in the following session.
Gold’s slight rebound on Friday from a sharp selloff in the previous session lost steam as the dollar gained, putting it on course for a second weekly dip. Retail Sales in the USA in August added 0.7% MoM, while analysts' forecasts assumed their further decline by 0.8% MoM. These strong results once again strengthened the market's confidence that the US...
Oil prices rose over $2 a barrel on Wednesday after government data showed a larger-than-expected drawdown in U.S. crude inventories, and on expectations demand will rise as vaccination roll-outs widen. Possible downward correction in the following sessions.
EUR has been actively declining, like most other currencies paired with USD, waiting for new drivers to appear on the market. Investors were focused on the results of the meeting of the European Central Bank (ECB) on the interest rate, which was expected to clarify the issue of reducing the existing incentives. The key interest rate remained unchanged at zero...
Possible upward correction before downtrend continuation. It's recommended to Sell on rallies.
On the 2H chart we can see the beginning of the trend reversal as market broke above the Previous Lower high and created a Higher high. On the daily chart we can see a correction of the upward movement. It's recommended to buy the dips.
Initially, the rate of the first cryptocurrency was supported by news from El Salvador, where on September 7, the law on the legalization of BTC as a means of payment came into force. Now the country's enterprises are obliged to accept digital assets on a par with USD in the implementation of any transactions, which will help the population significantly save on...
At the beginning of the week, digital assets were under pressure from long-term negative factors, a general decline in investor interest in digital assets, and expectations of the start of tightening of the US Federal Reserve's monetary policy. However, the “bears” failed to break the key support levels down, which led to corrective growth. At the end of the...
Possible pullback during the following sessions before Bullish trend continuation.
GBP jumped half a percent to the dollar to more than a weeks high on Friday and was set for a 1% weekly gain as the greenback fell after U.S. Federal Reserve chair Jerome Powell stopped short of signaling the timing for a policy shift. In prepared remarks for a speech to the Jackson Hole economic conference, Powell signaled the U.S. central bank will remain...
The euro strengthen against dollar on Friday after Federal Reserve Chair Jerome Powell indicated the U.S. central bank could begin scaling back its bond buying program by year-end but did not give a firm timeline. Powell much-anticipated speech was non-committal on the precise timing of the Feds bond tapering, unlike earlier remarks by several regional Fed...
Oil quotes are correcting downward. Despite the severe Hurricane Ida , prices are declining, which forced mining companies to cut oil production in the Gulf of Mexico by 91% (about 1.65 million barrels). However, after reaching the coast of Louisiana, the hurricane began to subside, which convinces investors of the short duration of its consequences for the oil...
The Greenback fell after U.S. Federal Reserve chair Jerome Powell stopped short of signaling the timing for a policy shift. In prepared remarks for a speech to the Jackson Hole economic conference, Powell signaled the U.S. central bank will remain patient as it tries to nurse the economy back to full employment, repeating that he wants to avoid chasing transitory...