The US dollar index rose to 105.40 after the Fed’s 75-basis-point key rate hike, while the stock and the crypto markets fell. However, during the past few days, investors and traders returned to risk assets as they expect inflation growth to slow. Moreover, Jerome Powell, the head of the Federal Reserve, announced the Fed might start cutting the key rate by 2024, which is the most evident hint of an upcoming market reversal.
Bitcoin got hit by the news
2019-11-11 • Updated
SELL 10,450; TP 9,900; SL 10,630
Bitcoin has confirmed a top, closed below the 50-day MA at 10,921 yesterday and fell through all the key MAs on H4. The price is now urged back to the support line and 38.2% Fibo retracement at 9,780.
The US Securities and Exchange Commission (SEC) delayed making a decision on three bitcoin exchange-traded fund (ETF) proposals. The news put off the cryptocurrency’s rally: BTC will likely consolidate now.
Notice that with FBS you trade Bitcoin CFD.
As fears about global economic well-being mount, market players turn to BTC seeing it as a kind of independent alternative.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD
The US dollar index has all chances of reaching the 2000s high of 120.00.
The Consumer Price Index announcement by Statistics Canada is set for release in a few hours will reveal the state of inflation in the Canadian economy