EUR/USD battles 1.1400 as US dollar jumps with yields

EUR/USD is trading around 1.1400, consolidating the sell-off amid a broad rebound in the US dollar. A renewed risk-off wave triggered a fresh rally in the US Treasury yields while helping the dollar bounce. Fed rate hike expectations and Russia-Ukraine crisis drive yields higher. 

EUR/USD News

GBP/USD trades around mid-1.3600s after UK jobs report

GBP/USD dipped below 1.3630 earlier in the session but managed to return to the 1.3650 area in the European morning. The data from the UK shows that the ILO Unemployment Rate declined to 4.1% in November as expected. The Claimant Count Rate in December improved modestly to 4.7%. 

GBP/USD News

Gold eyes $1,804 and $1,800 as US Treasury yields spike

Gold bears fight back control as US 10-year Treasury yields hit two-year highs. Russia-Ukraine crisis, aggressive Fed rate hike bets triggered the yields spike.

Gold News

ETH plans to restart new bull rally

Ethereum price witnessed a minor uptrend as it bounced off a crucial support level. This bull rally failed to catch traction, leading to a steep correction back to the aforementioned foothold.

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Can Apple earnings provide the catalyst for another rally?

Apple and the Nasdaq both rally despite yields joining the move higher. NASDAQ finishes in the green on Friday as AAPL closes up 0.5%. Apple stock is set to report earnings on January 27.

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DEEPER DIVE

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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Technical Confluences Detector

Anil Panchal

The Fed policymakers have entered a blackout period ahead of next week’s FOMC decision. What is moving the US Treasury yields, dollar and gold then? With the return of full markets on Tuesday, investors brace for heightened tensions between Russia and Ukraine, causing the risk premium to explode and driving the benchmark US 10-year yields to a new two-year high of $1.85%. The US rates also jumped, sending the dollar higher, on speculation of aggressive Fed rate hike in March to the tune of 50bps.

Gold Price: Key levels to watch

The Technical Confluences Detector shows that the gold price is testing the bullish commitments at $1,811, which is a powerful resistance of the SMA10 one-day and SMA100 four-hour.

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CRYPTOCURRENCIES

Cardano Price Prediction: ADA to retrace 17% after recent uptrend

Cardano price witnessed an exponential increase over the past week and showed signs of slowdown as it approaches a massive hurdle. Investors can expect ADA to retrace and recuperate before it embarks on another leg-up.

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Axie Infinity price headed for a 13% plunge if key support level fails to hold

Axie Infinity price is at risk of sliding lower if a crucial support barrier fails to hold. Slicing below $75.07 could spell trouble for the bulls as a governing technical pattern projects a 13% plunge toward $66.61.

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Lawyers state Ripple is giving SEC more trouble than anyone in crypto, including Elon Musk

Proponents believe that the outcome of the SEC vs. Ripple case is of consequence for the entire cryptocurrency ecosystem. Ripple has been embroiled in a battle with the SEC since December 2020, and the payments giant secured a win in a recent ruling by Judge Netburn. 

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Ethereum Weekly Forecast: ETH plans to restart new bull rally

Ethereum price witnessed a minor uptrend as it bounced off a crucial support level. This bull rally failed to catch traction, leading to a steep correction back to the aforementioned foothold. Here, ETH contemplates its next course of action with its odds slightly skewed in favor of bulls.

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WEEKLY FORECAST

EUR/USD: Bulls need to take out the 1.1500 level to reaffirm their leadership Premium

The EUR/USD pair finally woke up from its over-a-month lethargy, surging to 1.1482 and ending the week a handful of pips below the level. The American Dollar collapsed against all of its major rivals, and the catalyst was US inflation. The Consumer Price Index was confirmed at 7% YoY in December, its highest since 1982.

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GBP/USD: Fired up by the Fed, focus now shifts to top-tier UK data Premium

How low can the dollar go? The greenback tumbled in response to soothing words from the Federal Reserve and falling bond yields, an indirect result of warning words from other Fed officials. The focus now shifts to the UK, with economic indicators competing with the political drama. 

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USD/JPY: Looking forward to an Omicron free spring? Premium

The USD/JPY shed its remaining 2022 gains this week as markets look ahead to the spring’s anticipated economic revival. American inflation, while at a four-decade record in December, was not enough to force Treasury rates higher. 

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AUD/USD: Chinese data likely to set the tone next week Premium

 The AUD/USD pair reached 0.7313, a fresh two-month high, but trimmed part of its weekly gains to settle in the 0.7240 price zone. The poor performance of Wall Street, particularly on Friday, undermined demand for the pair, although the broad dollar’s weakness kept it on the winning side.

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BTC eyes retest of $50,000

Bitcoin price shows a resurgence of retail interest as it bounced off a crucial psychological level. The recent uptrend is preparing a base on a short-term time frame so BTC can kick-start a larger leg-up. Interestingly, on-chain metrics are lining up with the bullish outlook portrayed from a technical perspective. An uptrend now seems inevitable for BTC and, therefore, the larger ecosystem.

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Gold: Bulls to take action with a break above $1,830 Premium

Following the previous week’s sharp decline, gold started the new week on a firm footing and staged a recovery toward $1,800. With buyers managing to lift the precious metal above that key resistance area, XAU/USD extended its rally toward $1,830 before going into a consolidation phase in the second half of the week. 

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THE STOCK OF THE DAY

Can Apple earnings provide the catalyst for another rally?

Apple will report earnings next week on January 27 in what is the most anticipated of earnings releases by institutional and retail investors. Earnings per share (EPS) is expected to come in at $1.89, while revenue is expected to reach $118.8 billion. However, ahead of the earnings release AppleInsider.com quotes a note from JPMorgan saying the investment bank expects Apple to beat consensus and break its holiday quarter records. 

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