EUR/USD is consolidating weekly gains above 1.0800 in early European morning on Friday. The pair remains underpinned by a sustained US Dollar weakness and an upbeat market mood, despite mixed EU/ US PMIs. Focus shifts to the German IFO survey and Fedspeak.
GBP/USD posts modest gains above the mid-1.2600s in early Europe on Friday. The ongoing US Dollar decline offers some support to the pair alongside a risk-on market profile. All eyes remain on Fedspeak, as the UK and US docket remain data-light.
Gold price trades with a mild positive bias during the Asian session on Friday, albeit lacks follow-through and remains below a nearly two-week high touched the previous day. The minutes of the late January FOMC meeting, along with the recent comments by influential Fed officials, suggested that the central bank is in no hurry to cut interest rates.
The Securities and Exchange Commission’s lawsuit against Ripple has influenced the native token’s price consistently in the past three years. This week the lawsuit entered the remedies phase. Kraken cited Judge Analisa Torres’ summary judgment in the SEC’s lawsuit against the exchange.
We wrote reports in 2016 and again in 2019 to determine if election periods had a significant impact on U.S. economic activity. With the 2024 presidential election right around the corner, we revisit that analysis.
The eurozone as a whole is still struggling to break free from sluggish growth. And with numerous elections this year, efficient decision-making is becoming increasingly difficult.
Recently an agreement has been reached between representatives of the European Council, the European Parliament, and the European Commission on a new economic governance framework.
Gold price is replicating the same moves seen in Thursday’s Asian trading, as buyers attempt another run toward the key contention level of $2,033 early Friday. The US Dollar continues to display a subdued momentum, despite the hawkish Fedspeak and positive US Treasury bond yields, as Gold traders await the US Federal Reserve’s (Fed) semi-annual Monetary Policy Report (MPR) due later on Friday.
Gold price eyes more Fedspeak
The Asian stock markets continue to cheer the overnight AI optimism wave seen on the Wall Street indices, in the wake of the encouraging earnings report from the US chipmaker Nvidia.
Filecoin Price Prediction: After Solana integration, $10.00 is in sight for FIL once this barrier breaks
Filecoin price is trading with a bullish bias, making another bold attempt with the $10.00 target in sight after two previous attempts. However, the altcoin faces a strong opposition from a supplier barrier that will determine the next directional bias.
Pyth Network price has been on a decline for just over a week now, recording lower highs and lower lows. This came as traders cashed in on the sharp uptrend that lasted between February 8 and 14. The network kicked off the council elections on Thursday.
Bitcoin (BTC) price is begining to lean south after a multi-day consolidation, with bearish forces coming from, among others, recent reports that the European Central Bank (ECB) does not belive in the convinience of BTC.
Avalanche price has seen a tough second half of February with a price action characterized by lower highs and lower lows. With market leaning toward the downside, AVAX holders should probably brace fora more mucky rest of the week.
Major equity indexes in the US remain on track to open in positive territory following Wednesday's indecisive action. The rally seen in technology shares in premarket trading points to a big jump in tech-heavy Nasdaq Composite, while Dow Jones' upside remains limited.
The EUR/USD pair is ending a second consecutive week little changed at around 1.0750, although it posted a fresh low for 2024 of 1.0694.
The Pound Sterling (GBP) continued to remain in the back seat against the USD, as GBP/USD extended its bearish momentum into the fifth week in a row.
Another positive week saw the US Dollar (USD) gather extra steam and advance to fresh 2024 peaks at levels just shy of the key 105.00 barrier when gauged by the USD Index (DXY).
Gold declined for the second consecutive week, pressured by the recovering US Treasury bond yields and renewed USD strength. Next week's economic calendar will feature February PMI data and FOMC Minutes.
BTC has been moving up only since January 22 but could slip into a consolidation before the next leg up. With the rate at which BTC is climbing after the ETF approval, coupled with strong fundamentals, investors should consider buying the dips before BTC hits $60,000.
Solid economic growth, a tight labor market, and persistently high inflation are a cocktail that makes it very difficult for the Fed to cut interest rates. Markets have finally gotten the message.