Bitcoin dives 14%, slumping below $5,000
On Tuesday, crypto assets dived, with Bitcoin decreasing below the psychologically crucial $5,000 mark for the first time this year…
Greenback slides on caution prior to Powell testimony
On Tuesday, the evergreen buck decreased versus its key rivals, with market participants quite cautious ahead of testimony from fresh Fed Chair Jerome Powell, which could determine whether the greenback’s revival from a three-year minimum has more room to run or not.
Powell's Congressional testimony is going to be his first public debut since being sworn in as Fed Chair in February. Market participants would like to know whether the new governor will stick with the gradual monetary rate policy run by his predecessor Janet Yellen, or he’s going to take a more aggressive stance.
Early in February, the evergreen buck dived to its lowest value since late 2014 versus a basket of key currencies, although it has since revived nearly 2%.
On Tuesday, the US dollar index headed south 0.1% being worth 89.776.
Some market experts are assured that Powell would be quite optimistic on US the economic outlook. Additionally, they guess Powell would be patient in estimating whether inflation is going to inch up or not.
Many experts agree that the evergreen buck won’t probably be boosted by Powell's highly anticipated speech.
Financial experts surveyed by Reuters expect the core PCE to edge up 1.5% in January year-on-year that would be the same as December's tempo and somewhat way off from the Fed's 2% objective.
This week is literally stuffed with American economic data, including consumer confidence, updated fourth-quarter surge, manufacturing as well as personal income, to say nothing of spending numbers.
As the US currency slumped, the common currency rallied 0.1% hitting $1.2332, with market participants seen unlikely to open big positions this week prior to major political events in the EU.
Against the Japanese yen, the evergreen buck tacked on about 0.1% demonstrating an outcome of 107.05 yen.
Similar
Yuan goes down
On Monday, the Chinese Yuan headed south, while the evergreen buck rallied because US-China relations worsened over the weekend…
Greenback is affected by cautious Clarida remarks
On Friday, the evergreen buck declined versus its counterparts due to the fact that Fed Vice Chairman Richard Clarida expressed concerns as for global surge and came up with quite dovish remarks on monetary policy…
Latest news
Forex today: easing geopolitical tensions
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
Common currency ascends ahead of euro zone data
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
Greenback edges down
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
Deposit with your local payment systems
