XBTFX

XBTFX

Friday was the major trading day on the US financial markets, after the release of jobs data for August. The US nonfarm payrolls came weaker than market was expecting, which implied market higher volatility. The nonfarm payrolls came at the level of 142K, while the market was expecting to see 160K for the month. On the positive side was a modest decrease in the...

XBTFX

The US jobs data were in the center of market attention during the previous week, which implied some higher volatility of USD. The price of gold was following general negative correlation with USD, moving between levels of $2.524 down to $2.470. Still, Fridays weaker than expected jobs data pushed the price of gold back to higher levels, ending the week at $2.516....

XBTFX

Negative investors sentiment marked the previous week on the US equity markets. At the start of the week a news hit the market that market favorite tech company Nvidia was charged by the U.S. Justice Department for violence of antitrust law in the US. As news is reporting, charges came from company Xockets Inc for illegal use of the company's patents related to...

XBTFX

The pivotal moment during the previous week was the moment of a release of jobs data in the US. Friday brought increased volatility, considering weaker than expected non-farm payrolls. NFP reached the level of 142K in August, which was an increase from the revised figure from the previous month of only 89K. Still, the market was expecting to see the figure of 160K...

XBTFX

It was another tight week for financial markets including the crypto market. For the second week in a row the crypto market was losing strength, additionally negatively impacted by the liquidation of leveraged positions. At the start of the week BTC was trying to sustain the $58K level, however, negative sentiment on the market pushed the price of BTC further to...

XBTFX

Last week in the news The previous week started with a negative market sentiment after leaked information regarding Nvidia's subpoena received from the U.S. Department of Justice, while the same sentiment continued till the end of the week, after releasing weaker than expected jobs data. Such sentiment increased US Dollar volatility, while the price of gold...

XBTFX

After Powell`s the “time has come” for the Fed to pivot, and the latest PCE data, markets were adjusting their expectations for the level of Fed's rate cuts in the coming period. The Julys PCE data came surprisingly lower from market expectations, of 2.5% on a yearly basis, compared to 2.6% expected by markets. At the same time, investors are considering both...

XBTFX

The price of gold continued its rally toward the higher grounds during the previous week. Although the US Dollar was gaining in strength, the price of gold was only modestly trying to catch up with the negative correlation, modestly dropping on Friday's trading session. During the whole week, the price of gold was testing the $2.5K support line to the downside,...

XBTFX

The Fed's favorite inflation gauge, the PCE index, was standing behind the increased investors optimism during the previous week. The Index reached the level of 2.5% in July, which was lower from market expectation of 2.6%. The US equities reacted positively, in expectation of the first Fed's rate cut. The S&P 500 gained more than 1%, ending the week at the level...

XBTFX

The US Durable Goods Orders were increased by 9.9% in July for the month, much higher from forecasted 5%, and certainly better from -6.9% posted for the previous month. Durable goods orders excluding transportation were down by -0.2% for the month. CB Consumer Confidence in August reached 103.3, higher from market estimate of 100.7. GDP Growth Rate, second...

XBTFX

The focus of the market continues to be on the US inflation data and Fed's next move when interest rates are in question, in which sense, some repositioning is taking place. During the previous week the crypto market was left behind investors' focus as PCE data together with personal income and personal spending was set for a release. As data is showing that...

XBTFX

Last week in the news The PCE data were the ones to shape investors confidence during the previous week. Data on inflation, personal income and personal spending showed some potential for both rate cuts, and also continuation of high corporate earnings. The US equity markets benefited the most from such market expectations, with S&P 500 surging by 1%, ending the...

XBTFX

The “time has come” for the Fed to pivot. This was the note from Fed Chair Powell at the Wyoming Jackson Hole Symposium, and was the note that the market was waiting for a long time to hear. Current market expectation is that the Fed will make its first cut in September, however, the question that is currently occupying Wall Street is whether it is going to be 25...

XBTFX

A brand new ATH or the price of gold occurred during the previous week, supported by weakened US Dollar. Gathering in the Wyoming Jackson Hole Symposium revealed plans of the Fed that the time has come for the first interest rate cut soon. Although Powell did not mention when this cut might occur, market participants are almost sure at this moment that it will...

XBTFX

The Jackson Hole Symposium is a yearly event closely watched by the markets. The speech held by Fed Chair Powell, revealed that the Fed is “nearing” its first rate cut. Markets are now almost sure that the Fed will make such a decision at their September FOMC meeting. The US equity markets reacted positively to Powell`s rhetoric, bringing the S&P 500 to the level...

XBTFX

The most important event during the previous week was the Jackson Hole Symposium, which is gathering central bankers from most important economies. The speech held by Fed Chair Powell was the most important one as he noted that the inflation, around 2.5%, is close to the Fed's target and that the time has come for the first cut of interest rates. Markets have...

XBTFX

A statement from Fed Chair Powell at Jackson Hole Symposium on Friday, was supportive also for the crypto market, as it was for equity and gold markets. Investors are considering that the environment of decreased interest rates would be supportive for companies, in which sense, they are positioning accordingly for the future gains. An environment of decreased...

XBTFX

Last week in the news “The time has come for policy to adjust” were the words of Fed Chair Powell which marked the previous week impacting strongly market sentiment. Almost all markets reacted positively to a potential Feds pivoting point, with S&P 500 gaining 1,45% for the week and nearing its all time highest level from July this year. The US Dollar continued...