Crypto correction in the making? – Silver strong

Frank Walbaum

Important News for the day

Tue, 10th, 04:30 CET AU AUD rate statement.

Political uncertainty

Reports circulate that Syrian leader Assad has received asylum in Russia and already fled the country. Financial markets seemingly remain calm with the current situation. The price of Gold does not move much and also oil markets rather remain weak for now. The rebels, who took over the capital of Damascus are said to be linked with al- Qaeda.

Market talk

The Dollar shows some slight potential against most other currencies. In particular the AUDUSD keeps losing steam, after the slide started to gain momentum in late trading, yesterday. Crypto markets remain shaky. Bitcoin’s run higher might have found a resistance with the USD 100k level and also XRP is looking set to weaken at current levels. Worth noting that Silver prices had a big run up into the USD 32.20 area. Should yesterday’s high break, the market might continue to higher levels.

Tendencies in the markets

Equities sideways, USD stronger, cryptos weaker, oil weaker, Silver strong, Gold sideways, JPY weaker.

Author

Frank Walbaum

AUD/USD reclaims 0.7000 as blue wave sweep tumbles the US Dollar

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USD/JPY: Bullish pin bar faces 200-day SMA wall

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Gold pops to four-day highs near $4,050

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Circle reserve income falls 8% as ARC presale lifts Q3 revenue

Circle (CRCL) reported increased revenue in its Q3 earnings update on Wednesday as the $182 million ARC token presale offset the decline in reserve income. The stablecoin issuer stated that total revenue and reserve income reached $865 million in Q3, up 17% from a year earlier. Net income from continuing operations increased 5% to $226 million, while adjusted EBITDA climbed 85% to $317 million.

US midterms 2026: Investor Q&A on the Democratic sweep

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US Dollar breaks below 101.50 as Democrats sweep Congress

The US Dollar (USD) comes under heavy selling pressure on Wednesday, with the US Dollar Index (DXY) falling around 0.5% to trade near 101.35 after sliding below the 101.50 level. The Greenback retreats to its lowest level in four weeks as investors reassess the political and economic outlook following the Democratic Party's sweeping victory in the United States (US) midterm elections.