EUR/USD drops below 1.1300 for the first time in two weeks

EUR/USD remains under bearish pressure in the American session on Monday and trades at its lowest level in two weeks slightly below 1.1300. US Markit Manufacturing and Services PMIs missed market expectations by a wide margin in early January. The S&P 500 Index is down nearly 2% after the opening bell.

EUR/USD News

GBP/USD extends daily slide toward 1.3450

GBP/USD continues to stretch lower toward mid-1.3400s on Monday as the mood continues to sour. Wall Street's main indexes are down between 1.7% and 2.1% after the disappointing PMI data from the US.

GBP/USD News

Gold declines toward $1,830 despite falling US bond yields

Gold climbed above $1,840 during the European trading hours but erased its daily gains to turn flat on the day at around $1,830. The benchmark 10-year US T-bond yield is down more than 2% on Monday as safe-haven flows continue to dominate the financial markets. 

Gold News

Crypto carnage continues to unfold

Bitcoin price has witnessed a massive crash over the past week, undoing the gains seen since July 25. Ethereum, Ripple and other altcoins have followed suit, experiencing an even worse crash. 

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Nvidia extends losses after Bitcoin’s overnight flash crash

NVDA investors are getting used to seeing the colour red after a year in 2021 when all they saw was green. On Friday, shares of NVDA fell by 3.21%.

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Five factors moving the dollar in 2022, mainly to the downside Premium

In 2020, the pandemic outbreak initially sent it up, while optimism about the recovery turned it down. Inflation became a dominant theme in 2021, eventually boosting the greenback after a weak start. These three themes will likely continue dominating the dollar in 2022.

Top 5 cryptos to include in your Christmas wish list

Cryptocurrencies are here to make transactions easier and faster. But before you can jump right in and add any old cryptocurrency to your Christmas list, you need to understand what token you are investing in and the benefits they offer. There are five cryptocurrencies that appear to have a great future ahead.

When the facts change: US Inflation becomes the dominant economic topic Premium

Consumer prices rocketed at the fastest rate in almost four decades in November, with gains in necessities from food and gasoline to shelter and cars, leaving little place to protect the family budget. Fed officials have abandoned their claim that US inflation is a temporary phenomenon.

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Gold (XAU/USD) begins Fed week on a firmer not around $1,840, extending the previous two-week uptrend.

The precious metal’s latest run-up could be linked to the market’s rush towards risk-safety ahead of the key weekly event, namely Wednesday’s Federal Open Market Committee (FOMC) meeting. The risk-off mood could also be linked to the mixed performance of the US Treasury bonds and mostly downbeat Wall Street.

The yellow metal stepped back from the yearly resistance line on Thursday, also declined on Friday, as markets weighed hawkish Fed concerns while geopolitical tensions surrounding Russia and Ukraine escalated. The pullback moves failed to last long so far on Monday as stock futures

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CRYPTOCURRENCIES

Cardano Price Prediction: ADA bound for another 30% crash

Cardano (ADA) price action is not seeing the turn in sentiment that was expected with the start of a new trading week. Geopolitical talks are ramping up again this Monday regarding Russia, and investors are awaiting details of monetary tightening by the FED later this week, making investors an absent party in the cryptocurrency market for the first few days of the week. 

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Experts blame OpenSea and NFT issuers for Ethereum price crash

Ethereum’s recent drop in price was fueled by increasing inflows of the altcoin to cryptocurrency exchanges. Experts have blamed direct transfers from NFT marketplace OpenSea for the fall in Ethereum’s price. 

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Axie Infinity price set to dip lower as AXS bulls disappear

Axie Infinity price has dropped below a crucial support level, converting it into a resistance barrier. From here on, any minor uptrend is likely to face rejection at the barrier, leading to a sharp correction.

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Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto carnage continues to unfold

Bitcoin price has witnessed a massive crash over the past week, undoing the gains seen since July 25. Ethereum, Ripple and other altcoins have followed suit, experiencing an even worse crash. 

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WEEKLY FORECAST

EUR/USD: Federal Reserve between a rock and a hard place Premium

The EUR/USD pair gave up its latest gains and returned to its comfort zone, just a handful of pips above the 1.1300 figure. The pair lost the most on Tuesday when US traders returned to their desks and pushed government bond yields to levels last seen in February 2020.

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GBP/USD: Sterling set rebound with help from the Fed, ignoring Boris' travails Premium

Fear has finally arrived – inflation, aggressive policy from the Fed, China's slowing economy and Russia's potential military action. Everything supported the safe-haven dollar and contributed to a much-needed correction in the pound. The Fed decision is now in the limelight. 

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USD/JPY: The Fed’s next step is balance sheet reduction Premium

The USD/JPY moved further from its four-year high at 116.10 on January 4, dipping below 114.00 on Thursday and trading to a one-month low on Friday. Dollar weakness proliferated in spite of the diverging monetary policies of the Federal Reserve and the Bank of Japan (BOJ).

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AUD/USD: Unreliably optimistic Australian data hides a nearby crisis Premium

The AUD/USD pair is trading below 0.7200 heading into the close, unchanged for the week. The pair peaked at 0.7276 on Thursday, helped by encouraging Australian data that, nevertheless, fell short of overshadowing the greenback’s renewed bout of demand.

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Bitcoin: BTC may capitulate to $30,000

Bitcoin price has dropped considerably over the last three weeks. The recent downswing has made things worse for BTC and hints that a steep correction could be on its way.

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Gold: XAU/USD could turn south on a hawkish Fed surprise Premium

After a tarnished start to the week, gold made impressive gains, breaking above a key resistance area on Wednesday and reaching its highest level in nearly two months, near $1,850, on Thursday. From there, the yellow metal went into consolidation mode, giving back some of its weekly gains, but ended up closing the second straight week in positive territory.

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THE STOCK OF THE DAY

Despite market sell-off, TSLA finished Thursday in the green

Tesla managed to hold onto intraday gains but only just barely on Thursday. Stocks had opened well and were up some 1% for the main indices at the halfway stage of Thursday, but jitters resurfaced as the finish line approached. Investors began dumping positions, and the main indices closed in the red.

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