Key Takeaways: 💵 Dollar edged down against a basket of currencies after data showed U.S. services industry growth easing 📉 Bitcoin hit a record high and then retreated sharply in a volatile session 📉 U.S. services industry growth slowed in February with a decline in employment 💹 Dollar index measures the buck against major peers … Read more
Key Takeaways: 💰 Bitcoin hit a record high of $69,202, exceeding the previous peak 📈 Investor interest has surged after SEC approval of 11 spot bitcoin ETFs 💼 Traditional institutions are driving the crypto bull market 🔒 The approval of ETFs has legitimized Bitcoin as an investment destination 💡 Demand for Bitcoin is rising while … Read more
Key Takeaways: 💵 Dollar edged up against Euro as investors prepare for busy week 📈 Bitcoin nears record high amid ongoing crypto-mania 🌍 China sets ambitious economic growth target of around 5% for 2024 📊 G10 FX market remains subdued awaiting Powell testimony, ECB meeting, and US NFP data 📉 Dollar index up year-to-date but … Read more
Key Takeaways: 💰 Dollar held steady against the euro ahead of ECB rate decision and US jobs numbers 📈 Bitcoin nears record high amid ongoing crypto-mania 📊 China targets 5% economic growth for 2024 💹 Currencies affected by busy week of political and economic events 🏛️ ECB expected to keep interest rates at 4% 💼 … Read more
Key Takeaways: 💸 The dollar remained steady against the yuan after China’s policy statements lacked big stimulus measures 📈 Bitcoin is trading near $66,000, benefiting from flows into exchange-traded funds in the US 🇨🇳 China maintained an economic growth target of 5% and a budget deficit of 3% 🧮 Analysts express concerns about challenges to … Read more
Key Takeaways: 💱 Most Asian currencies had little movement on Tuesday due to China’s economic goals for 2024. 📉 Chinese sentiment was not significantly improved by the 5% GDP target for 2024, with doubts on achievability due to fiscal deficit targets. 📈 Australia’s dollar fell slightly despite improved current account data, signaling potential GDP improvement. … Read more
Key Takeaways 🇨🇦 Canadian Dollar weakened against the U.S. counterpart due to falling oil prices and uncertain risk sentiment 🏦 Bank of Canada expected to hold rates at 5% with an 80% chance of rate cuts starting in June 📊 Traders closely monitoring BoC’s commentary for hints on rate cuts, which could further weaken the … Read more
Financial Market Update 🇪🇺 Euro rose 0.15% to $1.08565, while dollar index was down 0.03% at $103.83 💼 Federal Reserve Chair Jerome Powell will testify before lawmakers on Wednesday and Thursday 📉 Markets were pricing in substantial interest rate cuts early this year, but bets have since been reduced 🌍 Market participants think further gains … Read more
Key Takeaways: 🔍 U.S. dollar weakened slightly at the start of the week 📈 Euro and pound edged up, while yen fluctuated 📊 Dollar index remained flat 💼 Important market events include Britain’s budget, ECB meeting, U.S. jobs data, and China’s parliament meeting 📉 Markets now expect the first Fed rate cut to come in … Read more
Key Takeaways: 💵 U.S. dollar weakened slightly at the start of a busy week for markets 📈 Bitcoin rose to a more than two-year peak above $64,000 🌍 Major events in the U.S. and Europe could trigger volatility 🏦 Markets pricing in interest rate cuts but bets have reduced 📊 Currency volatility at its lowest … Read more