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US dollar gains traction ahead of crucial US CPI data
Volatility in the dollar is expected to remain elevated this week due to several significant economic data releases. The CPI figures are particularly crucial, as they may influence the Federal Reserve’s future interest rate decisions.
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Bitcoin continues to respect the trendline support
Bitcoin surged past $71,500 on Monday following President Donald Trump’s announcement of a five-day pause on strikes against the Iranian energy sites. However, despite this sharp rebound, Bitcoin is having difficulty maintaining upward momentum, suggesting that sellers are still active.
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Geopolitical tensions sent shockwaves across global markets
Volatility has gripped markets throughout this month. Looking ahead, geopolitical tensions in the Middle East and concerns about inflation continue to be the main factors influencing market activity this week.
3 Economic Cycles: Explanation of Phases and Their Impact on Assets
AUD/USD bounces back to 0.7100, but there is a catch
AUD/USD is attempting to stabilize around 0.7090 after a strong rebound on Thursday. However, it is premature to conclude that the consolidation phase dominated by the Aussie has ended.
Gold price extends the decline, breaks below $4,600
Gold price extended its sell-off during the early NY trading session, hitting a fresh multi-week low of $4,520. The strength of the US dollar and the Federal Reserve’s hawkish stance were the main negative factors pressuring gold prices.
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Bitcoin snaps impressive 8-day winning streak
Bitcoin has declined for the second consecutive day due to uncertainty regarding central bank actions. As of this writing, Bitcoin is trading below $72,000.
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