XBTFX

XBTFX

Markets reacted to released unemployment data during the previous week. The increasing unemployment to 4.1% in June from 4.0% in May was an indication to investors of a possibility that inflation pressures will slow down on decreased employment and that it will provide the necessary space for the Fed to cut interest rates in September. After struggling to sustain...

XBTFX

Posted US unemployment figures increased investors' sentiment that the Fed might cut interest rates in September this year, as weakening jobs market data might put a halt to further inflator pressures. The sentiment was negative for the US Dollar, and supportive for the price of gold. Gold started the previous week around the level of $2.320 and continued with an...

XBTFX

The S&P 500 had another steady up-trend week, reaching a new all time highest level on Friday, after the US unemployment data were released. At the level of 5.567 the index is also ending the week, which represents a 0.54% increase from the previous close, and a 16.7% increase for the year. The index opened the week at 5.475 and showed a consistent upward trend....

XBTFX

The most important macro figures for the week were posted on Friday. The non-farm payrolls for June surged to 206K, significantly above market estimated 190K. At the same time, the unemployment rate was increased to 4.1% in June from 4.0% posted in May. These figures increased market optimism that the Fed still might cut rates in September. Other US macro data...

XBTFX

There has been a significant downside pressure on BTC during the previous week, which pulled the crypto market to the down side. As of Friday, BTC reached its lowest weekly level at $54.0K, however, most of the time, the coin was traded at $56K - $57K range. There are several reasons for such a strong drop in value. The crypto exchanger Mt. Gox announced that it...

XBTFX

Last week in the news The non-farm payrolls and unemployment data shaped investors sentiment on financial markets during the previous week. Friday was the day of significant volatility, which brought US Treasury yields down to the level of 4.28%. Weakening of the US Dollar pushed the price of gold to higher grounds, ending the week at level of $2.391. The US...

XBTFX

Friday brought some higher volatility on the markets as newest inflation data were released, as well as the consumer sentiment. Although 10Y Treasury yields spent the first half of the week testing levels above 4.20%, still, released inflation data pushed the yields toward the 4.40% level. Released PCE data showed inflation at 2.6% y/y, which was the lowest level...

XBTFX

The price of gold was traded in a mixed manner during the previous week. The expectations on the PCE data for May brought back some higher volatility on the markets during the Friday`s trading session. During the week, the price of gold tested some lower grounds, in an attempt to break the $2.300 support line. However, the price reverted back, reaching the highest...

XBTFX

During the past week, the SPX had some notable movements. The index closed at 5.460 on Friday, marking a slight decline of 0.11% within the week after a dip of 0.41% on Friday. Friday's trading session came with strong volatility after the release of PCE data. The trading range was between levels of 5.522 and 5.452. The inflation in May, measured through PCE, was...

XBTFX

The favorite Fed's inflation gauge was the indicator closely watched during the previous week. As per published data on Friday, PCE Price Index in May was standing at 2.6% on a yearly basis, in line with market forecast. Core PCE was also standing at 2.6% in may on a yearly basis. Durable Goods Orders were increased by 0.1% in May, while the market was expecting...

XBTFX

For the second week in a row the crypto market is slowing down. Investors and traders are currently more concerned with the inflation data, which might provide them a clue of when the Fed will make its first rate cut and start their pivoting cycle. The crypto market is a bit left behind at this moment. Daily trading volumes are lower, however, they are still...

XBTFX

Last week in the news Inflation data were in focus of markets during the previous week. The US PCE data published on Friday, impacted some repositioning among asset classes. The US equities reacted to the inflation data by ending Friday`s trading session in red. The S&P 500 ended the week at the level of 5.460. The US Dollar modestly weakened during the week,...

XBTFX

US Treasury yields had a relatively calmer week. Higher volatility was exhausted after the FOMC meeting, two weeks ago. The economic data are weighted and in expectation of the new ones the 10Y US benchmark was moving within a relatively short range, between levels of 4.20% and 4.29%. However, the major concern of market participants continues to be when the Fed...

XBTFX

The demand for the US Dollar pushed the prices of gold to the downside on Friday. Markets are still digesting information from the latest FOMC meeting, as well as, strong US business activity, in which sense, US Dollar gained as of the end of the previous week, while gold slipped to the level of $2.321 on Friday, after reaching its highest weekly level at...

XBTFX

Nvidia has again impacted the course of the S&P index, but this time to the opposite side. The index pulled back on Friday, after the market reassessed the stock's all time high. The stock notably declined on Friday closing down by more than 3%. This drop contributed to a broader sell-off in tech stocks. The decline was partially attributed to profit-taking after...

XBTFX

Retail Sales in May were standing at 0.1% higher from the previous month, however, a bit lower from market anticipated 0.2%. Building Permits preliminary for May were 1.386M, lower by 3.8% on a monthly basis, and below market estimate of 1.45M. Core inflation rate in the EuroZone, final for May, was standing at 2.9%, unchanged from previous estimate. The ZEW...

XBTFX

Some traders are commenting for one more time that the BTC continues to be at its “boring” phase. Evidently, there is no interest for the downside, but there is also no interest for the upside. The price of BTC is slowly exhausting itself during this phase, pushing many traders out of the market, which is expressed through the decreasing value of daily BTC...

XBTFX

Last week in the news Markets used the week after the FOMC meeting for some repositioning and profit-takings in expectation of new data which will provide a clue when the Fed will start its pivoting cycle. The S&P 500 finished the week lower, after reaching a new all time highest level, where Nvidia for one more time was in the center of market interest. The US...