Sterling in focus as Gold remains weak, Ethereum-led crypto bounce [Video]
Author

Kim Cramer Larsson
KCL Consult
Kim Cramer Larsson hosts the Daily Technical Update, a daily 15-20 minutes video with live charts.
Author

Kim Cramer Larsson
KCL Consult
Kim Cramer Larsson hosts the Daily Technical Update, a daily 15-20 minutes video with live charts.
Ripple and Stellar trade higher as both altcoins extend their recovery after defending key support levels earlier this week. XRP is up more than 2% so far this week, while XLM has rebounded after finding support around $0.177. Improving derivatives metrics and fading bearish momentum indicators suggest the recovery could extend in the near term.
The Bank of Canada held its policy rate at 2.25% on Wednesday and published a Monetary Policy Report whose entire disinflation path rests on one assumption: Brent falls to $75 and stays there. That assumption was finalised on Friday and was stale before Governor Tiff Macklem reached the podium.
The June CPI fell 0.4% on the month, the largest one-month decline since April 2020, dragging the annual rate to 3.5% from May's 4.2% and snapping a three-month acceleration streak. Core prices went nowhere, flat on the month and down to 2.6% YoY, both under consensus.