
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
On Monday, crypto assets were nearly intact.
On The Kraken exchange, the world’s leading digital coin, Bitcoin was demonstrating minor losses on Monday. The currency pair BTC/USD accounted for $6,446.21, heading south by about 0.6% since Sunday.
Coming off a trading marathon in which the most popular stablecoin, Tether happened to break its peg, traders in the greenback-backed crypto asset have started packing up shop for more stable assets. By the way, the vast majority of stablecoins don’t exceed $1 in value, often fluctuation in the range 99 cents- $1.01
For market participants, the instability of Tether offers an intriguing conundrum of whether to opt into other more regulated stablecoins, including Circle dollars, Gemini dollars, or TrueUSD, providing the same 1:1 to the greenback option to Tether, although with more evident security and robustness, as some financial experts pointed out.
Availability and liquidity have likely been Tether’s number one driver of popularity and value, although with a new number of stablecoins tradable on key exchanges, including Okex and Huobi, the stablecoin flippening might keep unfolding.
Having dived to below 90 cents, Tether that should fluctuate at 1-to-1 with the evergreen buck has managed to have its footing trading regained at 99 cents.
Crypto assets, which differ from Bitcoin, also known as altcoins, have concluded the trading marathon on a quiet note. Most of them traded lower than Sunday’s settlement.
The currency pair ETH/USD lost 0.5% hitting $201.85. Moreover, the currency pair BCH/USD declined by 1.6% being worth $443.20. The currency pair LTC/USD dipped by 1.3% hitting $51.99. As for XRP/USD, this currency pair headed south by 1.1% demonstrating 45 cents.
Meanwhile, Bitcoin futures demonstrated a slow start. November delivery Cboe Global Markets futures XBTX8 rallied by 0.1% hitting $6,390. October delivery Cowhile CME Group futures BTCV8 soared by 0.2% being worth $6,390.
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
The first week of November promises to be eventful, as we have the Fed meeting, the BOE update, and the NFP release. Read more details here.
Oil prices are rising and Russia banned the export of its petrol. What's happening in the markets?
Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.
In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.
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