XBTFX

XBTFX

During the previous week markets full attention was on PCE data which were published on Friday. The PCE index rose 0.1% for the month, and 2.5% on a yearly basis, which was fully in line with market estimates. The evident slowdown in inflation in the US increased the probability that the Fed might make the first cut in September this year. The 10Y US benchmark...

XBTFX

During the week the price of gold was following its negative correlation with the US Dollar. As the USD was strengthening, so the gold was traded on lower grounds. The lowest weekly level reached was $2.358. However, Friday`s posted PCE data were a game changer, as the data was in line with market expectations, and increased odds for a Fed's rate cut in September....

XBTFX

The oversold sentiment was holding the stock market during the previous week, however, the soft PCE report on Friday, brought back some optimism. The investors continue to be focused on the economic cycle movement, where small-cap indices gained during the week, while tech heavy indices were on a losing track. In this sense, Russell 2000 gained 1.67% during the...

XBTFX

The PCE indicator is currently the one that the market is closely watching, as an indication of a potential next move of the Fed when it comes to the interest rate decision. This index was published on Friday, indicating that the inflation, measured through PCE Index, was standing at the level of 2.5% on a yearly basis, which was fully in line with market...

XBTFX

Previous week was traded under investors' sentiment over the first ETH ETF which started trading in the US after the SEC`s approval, while on the macro side there were posted PCE data for June, showing that the inflation is further slowing down in the US. The BTC gained on investors expectations that the potential Fed's rate cut in September, and probably another...

XBTFX

Last week in the news The released June PCE Index was the major driver of the sentiment on financial markets during the previous week. The US Dollar strengthened during the week, however, PCE data pushed the currency into correction. Following the correlation with the USD, the price of gold ended the week a bit higher from previous weekly levels, at $2.385. The...

XBTFX

As there has not been currently important macro data posted during the previous week, the investors were weighing comments from Fed officials on a potential course of action when interest rates are in question. In this sense, Mary Daly, Fed President of San Francisco, noted her hopes for more data which would indicate that the inflation is on its way to the 2%...

XBTFX

During the previous two weeks the price of gold attempted for one more time to clearly break the $2.4K level, but for one more time investors decided that it is too early for such a move. A fresh new all time highest level has been reached at the beginning of the week, at the level of $2.480, when the reversal point began. The rest of the week gold was traded with...

XBTFX

The major event during the previous week had nothing to do with financial markets, however, it led to a loss of investors confidence. Namely, an unfortunate situation occurred with an update of the Microsoft operating system, where many users were experiencing technical issues with the use of their computers based on the MS operating system. Considering that some...

XBTFX

Retail Sales in the US were standing at 0% in June on a monthly basis, which was in line with market estimates. Retail Sales excluding autos were higher by 0.4%. Building permits preliminary for June reached the level of 1.446M, which was mostly in line with 1.40M market estimate. Industrial production in June was higher by 0.6% compared to the previous month,...

XBTFX

BTC bulls won the fight during the previous week, however, it was grounded on unfortunate events. Namely, the assassination attempt on the US Presidential candidate, Donald Trump, was the trigger which left the world in shock, however, at the same time, increased Trump's odds to win the presidential elections. The game story with the crypto market is that Trump...

XBTFX

Last week in the news There are two major events which impact the markets during the previous week. The first one was assassination attempt on the US presidential candidate Donald Trump, which occurred on Sunday, and the second one was the largest IT outrage that occurred during an update of the Microsoft systems. The ECB left interest rates unchanged, but it was...

XBTFX

Inflation data posted during the previous week were the ones that the market was closely watching. A better than expected inflation in June in the US made an impact on Treasury yields. The consumer price index in June was down 0.1% from the figure posted in May, bringing CPI to the level of 3.0% on a yearly basis. At the same time core inflation was higher by...

XBTFX

The inflation in the US was the major driver on financial markets during the previous week. As the inflation figure for June was better than market anticipated, it supported the market expectations that the Fed might cut interest rates as soon as September. Expectations pushed the USD to the lower grounds, bringing the price of gold to the highest weekly level at...

XBTFX

The S&P 500 continues with old optimism, this time supported by the US inflation figures. A fresh all time highest level has been reached at Friday`s trading session at the level of 5.658, gaining 1.4% for the week. The gain was supported by better than expected US inflation data for June, and Fed Chair Powell`s testimony in front of the US Congress. Tech stocks...

XBTFX

Fed Chair Powell had a testimony in front of a US Congress during the previous week, which was the major weekly event, that the market was watching closely. Although the major interest of the market was indication when the Fed will start pivoting, still Chair Powell avoided to provide such information in order not to “influence the market”. Core inflation rate...

XBTFX

Based on market movements of BTC during the previous week, it could be concluded that bulls and bears cannot agree who is willing to take charge on the BTC market. There has been a solid volatility during the week, however, it was only within a relatively short range (for BTC), between levels of $56K and $58K. Still, there have been some attempts to push the price...

XBTFX

Last week in the news The US CPI data for June were the major market mover during the previous week. A better than expected CPI data pushed the value of USD to the lower grounds, supporting the price of gold to test again levels modestly above $2.4K. US Treasury yields also adjusted to these results, where 10Y Treasuries dropped to the level of 4.18%. At the same...