For the last week, crypto assets jumped, backed by a 25% leap in Bitcoin Cash, in contrast with a backdrop of further indications of sluggishness in fiat currencies, including the evergreen buck…
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.
On Monday, the evergreen buck slumped to a two-and-a-half week minimum because market participants pulled back ahead of the Fed’s meeting a bit later in the week…
On Friday, key crypto assets showed mixed performance in Asia, with mild movements because the trading week drew to its end…
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…