Prices of Cryptocurrencies continued to climb after this weekend’s rally, with Bitcoin racing to a 3-month high to start the week.

BTCUSD hit an intraday high of $52,226 on Monday, which was its highest level since May 13th earlier this year.

The surge in Bitcoin comes as Ripple also rallied, with the altcoin rising by as much as 10% today.

XRPUSD traded as high as 1.3950, pushing Ripple’s market cap to $64.4 billion, which is the equivalent of 2.73% of the cryptocurrency market valuation.

As of writing, ETHUSD was also nearing the $4,000 level, and was trading at $3,937.

 

GBPUSD drops as UK car sales slow

After three days of gains, GBPUSD fell in today’s trading session, as data from the UK showed a slowdown in new car sales.

Figures from the Society of Motor Manufacturers and Traders reported that new car registrations were down 20% in August, verus the same period last year.

This news sent GBPUSD to an intraday low of 1.3818, as rates failed to break out of the key resistance level of 1.3895.

EURGBP also moved, falling to the floor of 0.8564 on Monday, however many now wait to see how markets will react once the U.S. markets reopen on Tuesday.

 

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 climbs above 1.1250 as investors eye coronavirus headlines

EUR/USD preserved its recovery momentum early Friday and rose above 1.1250 during the European trading hours. Markets are doubting the Fed's policy tightening prospects as the new coronavirus variant revives concerns over the economic recovery losing steam.

EUR/USD News

GBP/USD rebounds toward mid-1.3300s on broad dollar weakness

GBP/USD reversed its direction after dipping below 1.3300 earlier in the day and started to push higher toward 1.3350. The greenback is facing heavy selling pressure amid the sharp decline witnessed in the 10-year US Treasury bond yield.

GBP/USD News

Gold clings to strong gains above $1,800 as US T-bond yields plunge Premium

Gold staged a decisive rebound on Friday and reclaimed $1,800. The intense flight to safety is causing US Treasury bond yields to fall sharply and fueling XAU/USD's rally. Investors await news on vaccines' effectiveness against the new COVID variant.

Gold News

Cardano could tank to $1 if ADA fails to defend crucial support

Cardano price is currently hovering below a freshly shattered 6-hour demand zone, ranging from $1.68 to $1.79. This resulting crash could extend to the immediate and critical foothold at $1.40. 

Read more

Black Friday 2021 Discounts!

Do you want to take your trading skills to the next level? Now you have a chance of leaping forward at attractive introductory rates. For Black Friday, FXStreet is offering discounts of up to 50% on its upgraded Premium plans. 

Subscribe now!

Majors

Cryptocurrencies

Signatures