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.
USD bulls try to resist
2020-12-01 • Updated
Ichimoku Kinko Hyo
USD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a new bullish outlook.
XAU/USD: Gold gains after a period of the significant selloff. Gold remains below the key 38.2% retracement area while bulls resist further selloff.
US Market View
World shares edged up to just below record peaks on Tuesday after robust China data boosted expectations of a recovery from the COVID-19 downturn and as drugmakers seek fast approval for their vaccines and authorities look set to keep stimulus support.
Bets of more easing from the Fed in the United States to help the pandemic-hit economy through the winter weighed on the dollar, as riskier currencies rose, while crude prices missed out on the bounce after OPEC+ countries delayed a decision on output cuts. In foreign exchange markets, the dollar was under pressure after closing out its worst month since July with a little bounce and as investors reckon on even more US monetary easing. In a speech released late on Monday, Fed chair Jerome Powell said a slowing recovery and a surging pandemic meant the US was entering a "challenging" few months, with the potential deployment of a vaccine still facing hurdles.
Elsewhere sterling hit a three-month high as traders clung to hopes for a Brexit trade deal before the year's end, while risk-related currencies such as the Canadian and Australian dollar rose against the greenback.
USA Key Point
- Cable eases back to key near-term levels on the pullback after testing 1.3400
- UK November final manufacturing PMI 55.6 vs 55.2 prelim
- Eurozone November final manufacturing PMI 53.8 vs 53.6 prelim
- Germany November unemployment change -39.0k vs 8.0k expected
- France November final manufacturing PMI 49.6 vs 49.1 prelim
US100 broke through the strong resistance trendline, following July's inflation numbers on Wednesday, which were less than analysts expected…
Powell wants a soft landing for inflation, as Greenspan did in 1994. But it looks like he will get a hard landing.
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
After bouncing off the previous Major trendline last month, Bitcoin seems to be retesting the support area again in hopes of catching a bullish momentum.