Fundamental view: Bitcoin showed a uptrend against the greenback in this week. It cannot be forgotten that Bitcoin price took a massive hit on September 20 as the news of China banning cryptocurrencies spread like wildfire. The People’s Bank of China (PBOC) posted a circular that tightened the noose around mining and cracked down on the mining gray areas. The recent [...]
Fundamental view: Gold had showed a uptrend against the greenback in this week eventhough Fed sentiment and US political drama has led the way. An intensifying global energy crisis, the China Evergrande debt issue and the Fed’s tapering fears kept investors on edge has benefited the greenback. The several appearances by Fed Chair Jerome Powell [...]
Fundamental view: Aussie has bounced back and forth and closed the week forming a neutral candle. Demand for the American currency and plummeting equities has undermined the aussie whereas a nice comeback in gold prices partially offset their effects. Fed Chair Powell speech favored the greenback. The head of the Fed referred to stubbornly high [...]
Fundamental view: The US dollar has rallied significantly against the Japanese yen during the course of the trading week. Surging US Treasury yields has helped the USD/JPY to reach a level of 112, the first time high since the pandemic. Federal Reserve Chair Jerome Powell has noted in his comments after the FOMC that a majority of members felt that [...]
