The Crypto market usually also has a rough time in September. Bitcoin lost 12.7% in September 2021, 17.4% in 2020, 17.5% in 2018, 21.4% in 2017 and 45.4% in 2015. The main cryptocurrency increased by 13.3% and 3.95% in 2016 and 2019, respectively.
Dollar hits new 31-month low
2020-12-03 • Updated
Ichimoku Kinko Hyo
EUR/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
XAU/USD: There is an indecision battle between bulls and bears and stands above key 50% retracement area.
US Market View
U.S. stocks are seen opening mixed Thursday, pausing around record highs as investors await more fresh news on Covid-19 vaccines and potential fiscal stimulus. Positive news over the development of Covid-19 vaccines, with the U.K. becoming the first country to approve the Pfizer-BioNTech injection for emergency use on Wednesday, have helped global stock markets post strong gains.
However, the roll out of this vaccine, and others are likely to be approved shortly, will likely take several months. The U.S. is still set for a difficult winter, with more than 100,000 people currently in hospitals across the country sick with Covid-19, for the first time ever. The dollar continued its descent, hitting a fresh 31-month low as the prospect of a recovery next year enticed ever more money out of safe havens and into foreign currencies. The euro rapidly gained another cent after breaking through $1.20 for the first time since April 2018, while the Australian dollar, Korean won won both hit new 30-month highs.
USA Key Point
- US weekly initial jobless claims 712K vs 775K expected
- The GBP is the strongest and the USD is the weakest
- Cable nears the week's highs as buyers hold on to Brexit deal hopes
US100 broke through the strong resistance trendline, following July's inflation numbers on Wednesday, which were less than analysts expected…
US stocks have delivered their worst first half of a year in more than 50 years triggered by the Fed's attempt to control inflation and growing concerns about recession.
Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.
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.