Author: FX
Bitcoin’s been flexing harder than a gym influencer on TikTok lately, and everyone’s wondering: “What’s behind this wild ride?” Spoiler alert: It’s not just one thing. It’s multiple bullish forces stacking up at once. Bitcoin reached a new all-time high (ATH) last Thursday, closing at a little over $111,000. Its price action shows a clear uptrend starting around mid-April. Bitcoin’s price skyrocketed from around $76,000 to a peak near $112,000, a significant rally of over 47% in about a month! There’s been a slight pullback from the peak and could indicate some profit-taking or a minor retracement, but as long…
Gold price dips over 0.50% as improved sentiment trims haven flows after last week’s 4.86% surge.Trump postpones 50% EU tariffs to July 9, easing short-term trade war fears.Strong Chinese Gold imports and Russia-Ukraine tensions keep the bullish outlook intact.Gold price drops more than 0.50% on Monday amid the lack of demand for haven assets after United States (US) President Donald Trump delayed tariffs on the European Union (EU). In the meantime, trading remains thin due to the closure of the United Kingdom (UK) and US financial markets for holidays. At the time of writing, XAU/USD trades at $3,336.Market mood improved…
Trump Media plans to raise $3B to buy cryptocurrency.The Chief Executive Officer of Trump Media & Technology Group (TMTG)—the parent company of Truth Social—is Devin Nunes. A former U.S. Representative from California and Chair of the House Intelligence Committee, Nunes resigned from Congress in January 2022 to assume leadership of TMTG. In addition to his role at TMTG, Nunes was appointed Chair of the President’s Intelligence Advisory Board in January 2025. He continues to serve as CEO of TMTG while holding this advisory position.TMTG is publicly traded under the ticker symbol DJT on the Nasdaq. The company has been expanding…
Futures market gains on Monday during Memorial Day closure.Trump’s walk back of EU tariffs to July 9 boosts equity futures.Dow Jones futures rise more than 1% on reduced tariff risk.Salesforce, Nvidia report Q1 earnings on Wednesday after market close.Though markets are closed in the US for the Memorial Day holiday, stock investors bored with barbecue and checking their phones will notice that the futures market has shifted bullish ahead of the Tuesday open. Futures for the Dow Jones Industrial Average (DJIA), S&P 500 and NASDAQ 100 have all advanced around 1% or more on Monday after US President Donald Trump…
It is Spring Bank Holiday in the UK and Memorial Day holiday in the US. Peace to those that died in the fight for freedom and to their families. Today, the USD moved lower but has since retraced the declines to start the NA session.. The US banks, stock and bond markets are closed but Canada is open. The forex market never sleeps (it may rest though). The price action is likely to be somewhat limited in the forex. A snapshot of the USD to start the session now shows a mixed picture. The greenback is lower vs:EUR -0.11%GBP -0.17%CAD…
EUR/USD surrenders some of its early gains as the US Dollar recoups its initial losses.Trump’s erratic policy announcements have renewed concerns over the USD’s credibility.According to revised estimates, the German economy rose at a robust pace of 0.4% in the first quarter of the year.EUR/USD gives up a majority of intraday gains and drops to near 1.1375 during European trading hours on Monday from the monthly high of 1.1425 posted earlier in the day. The major currency pair surrenders gains as the US Dollar (USD) claws back significant initial losses, with the US Dollar Index (DXY) rebounding to near 99.00.However,…
Harry Dinkleburg just lost his beer money on a Cable short. He blames the market, flexes his fingers, and then aggressively shorts all the pound pairs with huge forex position sizes. He then loses his son’s college fund on the same day, so he calls it quits and ends the day before lunch. Harry Dinkleburg lacks vigor, or the ability to function well in the face of psychological stress. Instead of moving on from a losing forex trade, he aggressively took on risky trades in an effort to regain his losses. And because he was trading on emotions, his trades…
A slow start to the week is expected, with a bank holiday in the U.K. for the observance of Spring Bank Holiday, and in the U.S. for Memorial Day. On Tuesday, Japan will release the BoJ Core CPI y/y, while in the U.S., we will get the durable goods orders m/m and CB consumer confidence. Wednesday will bring inflation data for Australia, with the main focus on the RBNZ monetary policy announcement. In the U.S., the FOMC meeting minutes will be released. Thursday, many countries will observe Ascension Day, leading to lighter market activity. In the U.S., we’ll get the…
Indian Rupee recovers in Monday’s early European session.Mounting concerns about US fiscal health and weaker US Dollar support the INR. RBI rate cut bets and higher crude oil prices might cap the INR’s upside. The Indian Rupee (INR) edges higher on Monday after hitting its best performance in more than two years in the previous session. According to Bloomberg, the Indian currency’s biggest gain was seen after November 11, 2022, when it appreciated around 99 paise in a single day. Mounting concerns about US fiscal health and selling US Dollar from foreign banks provide support to the local currency. Nonetheless, expectations of lower…
Bitcoin appears to have completed a short-term pullback on its uptrend and could be setting its sights higher again. Or is a deeper correction still due? Bitcoin (BTC/USD) 4-hour Forex Chart by TradingView After hitting fresh record highs around the $112K level last week, bitcoin staged a quick pullback to the former resistance zone around $107K that coincided with a longer-term rising trend line. Can this support keep holding and send BTC/USD to new all-time highs again? Remember that directional biases and volatility conditions in market price are typically driven by fundamentals. If you haven’t yet done your homework on…