Bitcoin prices edge closer to $60,000

Prices of Bitcoin, continued to trade close to a 5-month highs in today’s session, as it is expected that the SEC will shortly approve a EFT product.

The world’s largest cryptocurrency rallied to an intraday high of $58,488 on Wednesday, its highest level since May. 

Bitcoin prices have climbed by as much as $13,000 so far in October, after dropping to as low as $39,000 in September.

Recent rallies in BTCUSD have come as markets expect the US Securities and Exchange Commission to approve a ETF for Bitcoin within the fortnight.

Many believe that prices could surpass its all-time high of over $65,000 with that time frame.

GBPUSD hits 2-week high on BOE rate hike uncertainty

GBPUSD hit a 2-week high in today’s trading session, as markets reacted to comments from a policymaker from the BOE.

The Bank of England member Silvana Tenreyro was speaking regarding the potential for a near-term rate hike, due inflation concerns.

In her comments Tenreyro stated that, "Typically, for short-lived effects on inflation, such as the big rises in the prices of semiconductors or energy prices, it would be self-defeating to try to respond to their direct effects".

The comments from Tenreyro, who is seen as a dovish member of the bank, sent GBPUSD to an intraday high of 1.3734, its highest level since September 27th. 

London’s FTSE 100 rallied on the news, closing 0.92% higher.

 

Trading any financial instrument on margin involves considerable risk. Therefore, before deciding to participate in margin trading, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consulting with your investment counselor, attorney or accountant as to the appropriateness of an investment in margin trading is recommended. This electronic mail message is intended only for the person or entity named in the addressee field. This message contains information that is privileged and confidential. If you are not the addressee thereof or the person responsible for its delivery, please notify us immediately by telephone and permanently delete all copies of this message. Any dissemination or copying of this message by anyone other than the addressee is strictly prohibited.

Feed news

Latest Forex Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD remains vulnerable near 1.1600 amid firmer dollar

EUR/USD is hovering around 1.1600, on the defensive amid a broadly stronger US dollar. Markets cheer US-Sino talks and stimulus progress despite looming inflation fears. The Fed-ECB monetary policy divergence weighs down on the euro. US Consumer Confidence data awaited.

EUR/USD News

GBP/USD hovers around 1.3750, Brexit talks in London eyed

GBP/USD is trading above 1.3750, struggling for a clear direction after Monday’s rebound. Market sentiment improves on stimulus hopes, US-Sino talks but the dollar remains firmer. UK’s Frost offers EU Dec deadline to solve the row over the NI proposal. All eyes on the Brexit talks.

GBP/USD News

XAU/USD flirts with $1,800 amid stronger USD, risk-on mood

Gold snaps a five-day uptrend, refreshes intraday low of late. Market sentiment dwindles amid pre-GDP caution, light calendar. US Treasury yields rebound, add strength to the greenback.

Gold News

Traders book profits from Shiba Inu to push Dogecoin to $0.34

Dogecoin price could see some incoming speculative money from profit-taking in Shiba Inu A bullish close above the Cloud on the daily chart indicates future upswing likely. The outperformance of Shiba Inu is likely as Dogecoin lags the majority of the market.

Read more

Conference Board Consumer Confidence October Preview: Watch what we do... Premium

Confidence expected to slip to 108.3 from 109.3 in September. Michigan Consumer Sentiment eroded slightly in October. Sentiment seems divorced from labor market and Retail Sales. Federal Reserve taper will not hinge on a happy US consumer.

Read more

Majors

Cryptocurrencies

Signatures