There has been little fresh catalyst to drive Bitcoin anywhere in any significant fashion with the dead cross in the moving averages keeping bulls subdued. Crypto circles continue to talk in jargon looking for a start for a push to new ATH (All-Time Highs) as in previous cases of bitcoin halving. Arguments for the upside…
The Japanese Yen has slowly been losing ground against the other majors even as in theory we actually have a closing rate gap between Japan and the likes of US, UK, and Europe. Absent any structural changes it is difficult for us to see a stronger Yen in the near term. Ultimately the Yen pairs…
The upcoming Bank of England (BoE) Monetary Policy Committee (MPC) meeting, Thursday 1100GMT, is generating significant market interest as traders and analysts anticipate the central bank’s next steps regarding interest rates amidst mixed economic signals. The meeting is set for this Thursday, with the bank rate expected to hold steady at 5.25%. Key Focus Areas:…
Tuesday finally saw a clear rejection from the trend line following through on the long daily wicks for Friday and Monday. It appears traders may be getting out of longs prior to the Bank of England’s Policy Meeting at 1130GMT. Note that we risk the BoE signalling its readiness for cutting rates soon as inflation…
The fundamental narrative for oil remains unchange, absent an actual attack on supply lines the main concern for the market has been a question of demand. China the worlds biggest oil importer remains weighed by a sluggish recover which is fast turning into a potentially wider structural malaise even as other markets also has industrial…
Gold has been on a range play ever since seeing a new historic high at April 12. Global tensions have not quite lead to a big flare up though the potential remains keeping prices elevated. Demand from central banks diversifying off fiat currency has also been a reason for this years rally but if everyone…
Bitcoin’s bounce have once again failed to generate momentum disappointing many over the, thus far lack of rally following the recent bitcoin halving. In theory bitcoin halving should have an inflationary effect on prices as it makes generating bitcoins that much harder reducing production but it is also true that historically the effect is not…
We do not normally cover the Australian Dollar for technical analysis but the combination of an RBA Monetary Policy Statement and Daily Level Resistances is very tempting. Note that market is disappointed that despite signalling a concern over housing prices the RBA views current interest rates at 4.35% as appropriate with Governor Michele Bullock indicating…
A lack of fresh catalyst has meant Euro spent much of the day in consolidation before eventually easing off in late New York trade. For now the lack of big economic data and bank holiday’s in the major markets will likely see us with this cautious tone and technical imperatives driving the market. Resistance Support…
The Reserve Bank of Australia (RBA) maintained its official cash rate at 4.35%, reinforcing the reality of “higher-for-longer” interest rates. Despite anticipation of potential rate cuts due to easing inflation, the RBA’s decision reflects ongoing concerns about persistent inflationary pressures, particularly in the services sector. Inflation and Interest Rates Housing Market Concerns Economic Indicators and…