The U.S. dollar held steady against major currencies on Monday, after posting its biggest weekly gain in more than a month, as traders closed short positions ahead of a Federal Reserve policy meeting this week. The greenback was little changed among caution ahead of the Fed meeting that runs two days to Wednesday. In recent [...]
Fundamental view: Bitcoin has made an end to its downtrend as it bottomed on June 8 which indicated that a reversal was due. A bill has also passed to make BTC a legal tender in El Salvador on June 9. This created a historic win for the flagship cryptocurrency, which has come a long way. [...]
Fundamental view: Gold showed a bearish trend last week. Gold has failed to capitalize due to falling US Treasury bond yields. Because of the absence of high-tier macroeconomic data releases, the benchmark 10-year US T-bond yield, lost more than 4% on the uninspiring May jobs report on Friday. University of Michigan said on Friday that [...]
Fundamental view: The Australian dollar initially tried to rally during the week but it gave up gains to form bear candle in the end. Risk appetite has offset demand for the American dollar, despite the US economy is among those improving the most. Australia is not more behind behind, as the Q1 Gross Domestic Product [...]
