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Monero remains bid near record highs

Omkar Godbole FXStreet Contributor

Monero [XMR/USD] trades around $90 in Asia, just shy of the record high of $99 clocked earlier this week.

The virtual currency witnessed an upside break of the trading range of $40-$55 on Monday after the reports hit the wires that South Korean exchange Bithumb is soon to launch trading in Monero. CoinMarketCap data show the volumes are highest on the Poloniex exchange today, up 44.22% in the last 24 hours.

The spike in Monero could also be attributed to increased curiosity among investors about crypto currencies in general following the record rally in Bitcoin.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

AUD/USD renews two-month lows near 0.6950 after Australian CPI data

AUD/USD is renewing two-month lows near 0.6950 in the Asian session on Wednesday, as below-expectations August Australian underlying CPI data pours cold water on expectations for further RBA interest rate hikes. Chinese PMI data also fail to inspire the Australian Dollar, despite a pause in the US Dollar advance.

USD/JPY drops below 157.00 as intervention risks counter Japan's weak data

USD/JPY keeps losses below 157.00 in the Asian session on Wednesday, as hawkish BoJ expectations, along with intervention risks, underpin the Japanese Yen, countering dismal domestic factory output and retail sales data. Meanwhile, a broad US Dollar retreat also collaborates to the pair's downside.

Gold consolidates below $4,200, looks to US ADP and PCE

Gold struggles to capitalize on the previous day's recovery from an eight-week low, consolidating below $4,200 in the Asian session on Wednesday. The overnight slide in oil prices eased the US Treasury bond rout, supporting the bullion. However, Fed rate-hike bets and inflationary concerns keep bond yields near multi-year highs. Moreover, geopolitical uncertainties underpin the safe-haven US Dollar, which, in turn, limits bullion.

Ethereum sees profit-taking near $2,700 ahead of key US economic data

Ethereum (ETH) has shown signs of profit-taking near $2,700 over the past few days, with rising exchange deposits and a slowdown in exchange-traded fund (ETF) inflows ahead of US inflation and labor market data releases. The top altcoin's Exchange Reserves, which track the total amount of a crypto asset held across exchange wallets, have increased by roughly 125K ETH since Friday.

Silver is more volatile than Gold ahead of PCE and NFP. This chart shows the positioning gap

The market’s attention is focused on American data this week, but there’s something only those with a trained eye may be looking at: Gold and Silver positioning gap. Financial markets are moving on fears, mostly related to persistently high energy prices driven by the Middle East war. Sure, the US Dollar (USD) is strong, but at what cost?

Monero remains bid near record highs

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AUD/USD renews two-month lows near 0.6950 after Australian CPI data

USD/JPY drops below 157.00 as intervention risks counter Japan's weak data

Gold consolidates below $4,200, looks to US ADP and PCE

Ethereum sees profit-taking near $2,700 ahead of key US economic data

Silver is more volatile than Gold ahead of PCE and NFP. This chart shows the positioning gap

Silver is more volatile than Gold ahead of PCE and NFP. This chart shows the positioning gap

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