Category: July
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Michael Saylor’s MicroStrategy Bought 169 Bitcoin For $11.4 Million In July
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MicroStrategy Incorporated (Nasdaq: MSTR) announced its second-quarter 2024 financial results, revealing an increase in its bitcoin holdings. The company acquired 12,222 bitcoins since the start of the quarter, at an average price of $65,882 per bitcoin, bringing its total holdings to 226,500 bitcoins, purchased for $8.3 billion at an average…
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ICYMI – the J.P. Morgan Global Manufacturing PMI fell to 49.7 in July from 50.8 in June
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The latest JPM Global Manufacturing PMI was released on Thursday, falling below 50 in July, indicating a return to contraction. JPMorgan’s global manufacturing PMI fell to 49.7 in July from 50.8 in June. First contraction in 2024 so far, ending 6-month expansion streak Output growth slowed sharply, and new orders…
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Bitcoin down 10% since end of July 29, DOW also slips
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Bitcoin showed its correlation with traditional markets on August 1, as the cryptocurrency fell alongside stocks and market indices. Bitcoin (BTC) has fallen more than 10% since July 29, when the cryptocurrency surged toward $70,000 and hit a two-month high after Donald Trump’s remarks in Nashville. As of this writing,…
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XRP Beats Out Bitcoin, Ethereum, And Dogecoin In July, What Happened?
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July was a month of intense competition, with leading coins like Bitcoin, Ethereum, XRP, and Dogecoin vying for dominance. Amidst this struggle, an unexpected victor emerged, as the price of XRP managed to outperform its beloved peers to become the best performer among the top 10 cryptocurrencies by market cap.…
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Daily Broad Market Recap – July 31, 2024
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The last trading day of the month was a busy one for data traders as they priced in new updates from around the world. What headlines have moved major assets in recent trading sessions? We have a list for you: headlines: Price movement in the broad market: Dollar Index, Gold,…
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UK’s PMI rises to two-year high of 52.1 in July
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Joseph Clark The seasonally adjusted S&P Global Manufacturing Purchasing Managers’ Index (PMI) for the UK rose to a two-year high of 52.1 in July, up from 50.9 in June and the previous flash estimate of 51.8. Key findings include: Fastest output growth since February 2022; higher input price inflation to…
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China Caixin Manufacturing PMI for July 2024 49.8 (expected 51.5, prior 51.8)
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I have revised this result twice, as it has returned to contraction again after a good June. This was a major failure to meet expectations. This is its first contraction in nine months, and points to underlying problems in the Chinese economy. The PMI had performed better than the official…
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Japan spent $36.8 billion in July intervention, official data shows By Reuters
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By Kevin Buckland TOKYO (Reuters) – Japanese authorities spent 5.53 trillion yen ($36.8 billion) intervening in the foreign exchange market this month to lift the yen from a 38-year low, official data showed on Wednesday. The Finance Ministry figures confirmed the doubts of traders and analysts following the sharp rise…
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Daily Broad Market Recap – July 30, 2024
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Risk aversion was the name of the game on Tuesday, as caution ahead of this week’s major market events mixed with weaker U.S. technology stocks and rising geopolitical tensions in the Middle East. How have major assets behaved in recent trading sessions? We share the details: headlines: Australia Building Approvals…
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Daily Broad Market Recap – July 29, 2024
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A lack of data releases kept traders on the sidelines on Monday, leading to volatile price movements for most major assets. What headlines dominated the news agencies anyway? headlines: during the Weekend, British Chancellor of the Exchequer Rachel Reeves Beware ofMaking tough decisions about spending, social care, and taxes“After reviewing…
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Must-Have Tokens Of July Solana and Mpeppe (MPEPE) With Both Tokens Set To Reach New ATH
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Solana (SOL) has consistently been among the top performers in the cryptocurrency market. Known for its high-speed transactions and low fees, Solana (Sunday) It has attracted a variety of projects, from decentralized finance (DeFi) to non-fungible tokens (NFTs). This strong performance has positioned Solana (SOL) as the must-have coin for…
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Must-Have Tokens Of July Solana and Mpeppe (MPEPE) With Both Tokens Set To Reach New ATH
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Solana (SOL) has consistently been among the top performers in the cryptocurrency market. Known for its high-speed transactions and low fees, Solana (Sunday) It has attracted a variety of projects, from decentralized finance (DeFi) to non-fungible tokens (NFTs). This strong performance has positioned Solana (SOL) as the must-have coin for…
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Monday morning open levels, indicative FX rates 29 July – little changed from late Friday
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Premium Forex Watch Recaps: July 23 – 24, 2024
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This week our strategists focused on Eurozone business surveys and the Bank of Canada interest rate statement, which led our strategists this time to focus on the Euro and Canadian Dollar. Of the four scenario/price outlook discussions this week, It can be said that both discussions witnessed the raising of…
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Analyst Predicts Solana Rise To $1,400 As Similarities With July 2021 Emerge
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Cryptocurrency Analyst Ali Martinez He identified similarities between the current price action of Solana and Price hike in 2021Based on his analysis, Solana (SOL) stock could surge above $1,000 if it reverses its move from 2021. Solana stock price could rise to $1,400 Related reading Martinez expected that Solana Solana…
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Analyst Predicts Solana Rise To $1,400 As Similarities With July 2021 Emerge
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Cryptocurrency Analyst Ali Martinez He identified similarities between the current price action of Solana and Price hike in 2021Based on his analysis, Solana (SOL) stock could surge above $1,000 if it reverses its move from 2021. Solana stock price could rise to $1,400 Related reading Martinez expected that Solana Solana…
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Kickstart the FX trading day for July 26 w/a technical look at the EURUSD, USDJPY & GBPUSD
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In the opening video for July 26, 2024, I take a look at three other major currency pairs from a technical perspective – EURUSD, USDJPY, and GBPUSD. The EUR/USD pair has been trading up and down for the past three days. In favor of the buyers, the low today has…
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University of Michigan consumer sentiment for July 66.4 versus 66.0 estimate (and prelim)
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Previous month 68.2 Current status 62.7 vs. 64.1 initially and 65.9 last month. Expectations: 68.8 vs. 67.2 initially and 69.6 last month One-year inflation expectations: 2.9% vs. 2.9% initially and 3.0% last month. 5-year inflation forecast 3.0% vs. 2.9% initially and 3.0% last month Mix of details compared to the…
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Global Market Weekly Recap: July 22 – 26, 2024
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Market correlations have been intermittent throughout the week as traders try to reconcile several key market drivers throughout the week. In particular, renewed growth concerns in China and a tech sector sell-off on weak US earnings data led to large inflows into safe-haven assets during the first half of the…
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Daily Broad Market Recap – July 25, 2024
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Major assets were poised to extend themes from the previous day when the US GDP release shook up overall price action. How did the major assets trade yesterday? We’re breaking down the headlines you might have missed! headlines: People’s Bank of China Surprisely Cuts Medium-Term Lending Facility Rates By 20…