News indicating that Saudi Arabia’s oil output would return to normal quicker than expected, lifted the market’s mood and weighed on the greenback. EUR/USD underpinned by improved Business Sentiment according to the German ZEW Survey.
The GBP/USD pair is trading in the upper end of its weekly range, getting a boost but decreased demand for the greenback following relief news related to the crude oil market after the weekend attack to Saudi facilities.
The USD/JPY pair spiked to 108.35, reaching the highest intraday level since August 1st and then pulled back to the 108.15/20 area.
Citing two sources briefed on the Saudi oil operations, Reuters reported that Saudi Arabia's oil output would return to normal levels quicker than initially thought.
The arrangements for a possible Altcoins season continue with the fantastic bullish development that Ethereum is showing. Yesterday it pierced the 50-period exponential moving average with ease and relentlessly headed towards the $200 level.
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Top 3 price prediction Bitcoin, Ripple, Ethereum: Altcoins niche improves with XRP pushing against barriers
The market expects the resolution to this bottleneck convinced that without Bitcoin's participation it will be difficult to consolidate gains in the Altcoin niche. But recent history does not support this theory.
Bitcoin and all major altcoins have been a mixed picture during European hours on Tuesday. The total market capitalization stays edged towards to $265 billion, average daily trading increased to $57 billion, while Bitcoin's market dominance retreated to 69.1%.
Litecoin has retraced from Monday’s high of $73.86 to trade at $72.50 by the time of writing. The fifth-largest coin with the current market value of $4.58 billion has been range-bound with bullish bias on Tuesday.