Cryptos kick off the week with a kick lower on some negative headlines. The technical charts continue challenging digital coins. Here are the levels to watch according to the Confluence Detector. Cryptocurrencies are on the back foot, losing some ground in the wake of the new week. These are not plunges, but they are certainly … “Crypto investors moving to Gold? Things are not looking good”
Author: admin_mm
US Government Shutdown Ends Temporarily, Dollar Unimpressed
The US dollar had muted reaction to the announcement of a stop-gap agreement between President Donald Trump and the Congress to end the government shutdown without funding the wall with Mexico. Trump said today: I am very proud to announce today that we have reached a deal to end the shutdown and re-open the federal government. The deal will result in government funding for three weeks till February 15. If by that time no longer-term deal … “US Government Shutdown Ends Temporarily, Dollar Unimpressed”
Pound Rallies on Hopes of Avoiding No-Deal Brexit
The Great Britain pound rose against its most-traded rivals today on hopes that the country will be able to avoid hard Brexit that can cause serious damage to Britain’s economy. The Sun newspaper reported that Northern Ireland’s Democratic Unionist Party had privately decided to back the Brexit deal proposed by UK Prime Minister Theresa May. In return, the DUP demands that the controversial Irish backstop should have … “Pound Rallies on Hopes of Avoiding No-Deal Brexit”
Canadian Dollar Strengthens As BOC Weighs Rate Hike
The Canadian dollar is strengthening against its US counterpart as the central bank hinted that a rate hike is on the table, but it depends entirely on economic data â both at home and abroad. The loonie has improved against the greenback so far this year, despite the Bank of Canada (BOC) taking a wait-and-see approach on interest rates. Rising crude oil prices are also helping lift the currency to finish off … “Canadian Dollar Strengthens As BOC Weighs Rate Hike”
CAD stalled with oil, GDP in the limelight now
USD/CAD advanced on weak Canadian data, as oil failed to advance. Canadian GDP stands in a week dominated by the Fed. The technical picture is mixed for the pair. This was the week: Weak data all around The Canadian Dollar was on the back foot as data missed expected. Manufacturing Shipments fell by 1.4%, Wholesale … “CAD stalled with oil, GDP in the limelight now”
USD/JPY will not stay in range for too long with the Fed and the NFP
USD/JPY consolidated in range amid stuck negotiations. The Fed and the Non-Farm Payrolls promise action as January ends. The technical picture is mixed for the pair. This was the week: All the negotiations are stuck Negotiations between the US and China did not go anywhere fast. It culminated with reports that some talks were canceled, … “USD/JPY will not stay in range for too long with the Fed and the NFP”
Bitcoin ignores bad news, time to rise?
BTC/USD had a week of consolidation amid negative news. The ongoing US government shutdown puts a Bitcoin ETF approval on ice. The technical picture is balanced for Bitcoin. Cryptocurrencies suffered a mini “flash crash” early in the week. The move sent BTC/USD to a low point of $3,433 but the granddaddy of digital coins bounced … “Bitcoin ignores bad news, time to rise?”
3 reasons why the dollar is down
The US Dollar is falling with significant drops against commodity currencies. The arrest of former Trump adviser Stone and reports about the Fed’s dovishness weigh. The ongoing shutdown does not help, and there’s no end in sight. The US Dollar is falling against the recovering euro and more prominently against commodity currencies. It does not … “3 reasons why the dollar is down”
Euro Keeps Rising From 5-Week Lows Despite Mixed German IFO Data
The euro today rallied from 5-week lows hit yesterday following the ECB monetary policy decision and the balanced policy stance outlined by Mario Draghi. The EUR/USD currency pair’s rally started in the Asian session driven by a shift in investor sentiment and also as a pullback from yesterday’s crash. The EUR/USD currency pair today rallied … “Euro Keeps Rising From 5-Week Lows Despite Mixed German IFO Data”
Australian Dollar Gains After Falling on Thursday
The Australian dollar rose today, gaining on most major currencies, with the exception of the euro. While no macroeconomic data was released in Australia today, several reports came out yesterday, including the extremely positive employment report. The Australian Bureau of Statistics reported that the seasonally adjusted number of employed persons in Australia increased by 21,600 in December from the previous month. Experts had predicted a smaller figure of 17,300. Furthermore, the November increase … “Australian Dollar Gains After Falling on Thursday”