The first part of the week was more than optimistic for Bitcoin. However, now it is going through the correction phase.
Daily News: Wednesday, January 24
The middle of the working week is a good time to gather past and future events, analyze and trade!
- USD/JPY pair is falling. Despite the BOJ report where the Bank announced stability of its loose monetary policy and unchanged interest rate, the price of USD/JPY is sliding down. The candlestick hit the support line of 110 and fell to 109.8. We are waiting for trading news.
- New high. EUR/USD pair achieved a new 3-year high of 1.2335. The depreciation of USD against the JPY affected the Fiber. Now the pair is falling, but let’s see where the pair will go.
- The Aussie, the loonie, and the kiwi are rising. The weakness of the US dollar supports other currencies. Despite the yesterday fall of Aussie, the Australian dollar is rising now and economists believe in bullish trend still. The Canadian dollar and the New Zealand dollar are growing stably.
- The World Economic Forum in Davos that started yesterday is continuing. Economists are waiting for Trump’s speech, supposing that it will give chances to USD to show a bit of life. More information about the WEF and Trump’s address you can find here
- An anticipated Chair of the Fed. As expected, Jerome H. Powell became the next chairman of the Fed. The majority of the US Senate voted to confirm him to this position. Expecting vectors of his policy, his background you can find here
- At the end, a positive forecast. Reuters poll predicts the global growth in 2018 that was not seen since 2010. It gives signals to invest in stocks and high-yielding currencies.
On Wednesday, China posted shockingly weaker surge in retail sales as well as industrial output for April, thus increasing pressure on the Chinese cabinet to roll out more stimulus because the trade conflict with America escalates…
In April, American import prices surged less than anticipated in April due to the fact that jumps in the cost of food and petroleum were tamed by the largest tumble in the price of capital goods for a decade, dropping a hint at the fact that inflation…
On Monday, gold declined notwithstanding a lower American currency because data underpinned hopes for a Fed interest rate lift…
On Friday, European stock indices fluctuated at the beginning of the trading session…
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.