Bitcoin drops under $90,000, are institutions truly long BTC?
Bitcoin (BTC) climbed to a high of $94,416 early on Monday before erasing newfound gains and dropping under $90,000 support. Market movers and recent bullish developments, such as the United States (US) strategic reserve announcement, the upcoming crypto summit at the White House and BlackRock’s announcement regarding portfolio allocations, failed to catalyze a sustainable rally […]
Japanese Yen retreats to the lower end of its daily range against US Dollar
The Japanese Yen (JPY) surrenders a major part of intraday gains against its American counterpart, pushing the USD/JPY pair back closer to mid-149.00s heading into the European session on Tuesday. Data released from Japan earlier today showed an unexpected uptick in the Unemployment Rate and a fall in corporate capital expenditure for the first time […]
Forex Today: The RBA takes centre stage
The US Dollar Index (DXY) came under renewed selling pressure, setting aside three daily advances in a row and returning to the 106.50 region amid a mixed tone in US yields. The RCM/TIPP Economic Optimism Index is due, seconded by the API’s weekly report on US crude oil inventories. In addition, the Fed’s Williams is […]
EUR/USD steadies on Ukraine peace plan, ECB policy in focus
EUR/USD holds onto gains near the key level of 1.0500 in Tuesday’s European session. The major currency pair remains firm as European leaders, including Ukrainian President Volodymyr Zelenskyy, agreed to structure a peace plan to end the three-year-long war in Ukraine. Europe’s readiness to stop the massacre in Ukraine has improved the Euro’s (EUR) appeal, […]