Weekly Cryptonews
Bitcoin could not resist the $10,924 level and fell below the 50-day SMA on Tuesday.
Greenback goes up a bit backed by soaring US bond yields
On Tuesday, the US currency appreciated a bit, retreating from the minimum for more than a week. The surge of the evergreen buck is associated with signals about the reduction of tensions in international trade, which led to the fact that the profit of American government bonds again exceeded the level of 3%.
The US dollar index, estimating the purchasing power of the US currency versus six key currencies, inched up by 0.04%, reaching up to 92.60, having dived to 92.11 on Monday - the lowest outcome since May 2.
The evergreen buck obtained support after the revenue of 10-year US government bonds rallied to 3,025% - the highest outcome for three weeks. If the yield of US bonds beats the value of 3,035%, recorded on April 25, then it’s going to be the highest outcome since the beginning of 2014.
The soar in the yield of US government bonds can be explained by the receding tension in trade relations between the United States and China after President Donald Trump expressed his wish to help restart the Chinese technology company ZTE.
The previous month, the Trump administration banned US companies from selling software as well as electronic components from the Chinese ZTE, which nearly paralyzed the work of the latter.
The previous week, the evergreen buck added to a maximum of four and a half months. However, then the US currency started falling after weak inflation data in America, while investors were disheartened by a more aggressive rate of interest rate lift in the US.
In March the Federal Reserve increased the interest rate and also gave a forecast for two more hikes this year, although a great number of market participants are assured that there will be three such increases.
Similar
The CAD falls on the weaker-than-expected retail figures
The level of retail sales released today came out lower than the forecasts.
Market updates on July 19
Will Friday be more optimistic for the USD?
Latest news
British inflation tacks on for the first time this year
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
Evergreen buck heads north
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
Gold ascends on Brexit jitters
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…
Deposit with your local payment systems
