Category: July
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HSBC Australia To Block Crypto Payments From 24 July 2024
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In a move that sent shockwaves through the cryptocurrency community, HSBC Australia, one of the country’s leading financial institutions, has announced that… Advertise A blanket ban on all payments to cryptocurrency exchanges. From July 24, 2024, the bank will automatically reject any transactions it believes are linked to digital assets,…
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Daily Broad Market Recap – July 24, 2024
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The Japanese Yen was the pips king in the Forex market once again, posting its third consecutive day in the green with a solid performance. In contrast, US stocks suffered sharp losses due to a broad sell-off in technology stocks, while commodities also declined. Here are the market headlines you…
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Economic calendar in Asia on Thursday, July 25, 2024 – some data from Japan
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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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XRP Price Rally Expected On July 25?
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Credit: zebpay The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) in the Ripple vs. SEC lawsuit has been a source of great uncertainty for the cryptocurrency community, especially for XRP investors. However, recent developments have reignited hopes for a potential settlement, sparking speculation about…
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UK’s flash composite PMI reading at 52.7 in July
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Joseph Clark The seasonally adjusted global PMI for the UK rose from 52.3 in June to 52.7 in July, slightly higher than 52.6. The services PMI came in at 52.4, up from 52.1 in June, its highest level in two months. flash The manufacturing PMI came in at 51.8, up…
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Eurozone July flash services PMI 51.9 vs 53.0 expected
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Previous 52.8 Manufacturing PMI 45.6 vs. 46.1 expected Previous 45.8 Composite PMI 50.1 vs. 51.1 expected Previous 50.9 Eurozone economic growth stalled in July, as growth in services activity slowed and manufacturing conditions continued to slacken. The first reading was four months lower and the second reading was a seven-month…
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Daily Broad Market Recap – July 23, 2024
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The US dollar has been steadily rising against most of its rivals in the foreign exchange market, but the Japanese yen has been a notable exception. Price action across other asset classes was hotter, with volatility rising but market correlations appearing to have broken down. What’s up with that?! Here…
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Will The Bitcoin Price Close Out July In Green Or Red? Historical Data Gives Direction
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So far in July, Bitcoin price has shown positive movement, breaking out of June’s downtrend and rising to new monthly highs. While this rally has been encouraging, it still leaves investors with doubts as Bitcoin price remains below $70,000. As the month comes to a rapid end, the question remains…
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Will The Bitcoin Price Close Out July In Green Or Red? Historical Data Gives Direction
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So far in July, Bitcoin price has shown positive movement, breaking out of June’s downtrend and rising to new monthly highs. While this rally has been encouraging, it still leaves investors with doubts as Bitcoin price remains below $70,000. As the month comes to a rapid end, the question remains…
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Forexlive European FX news wrap 23 July – The US Dollar remains in the driver’s seat
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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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Daily Broad Market Recap – July 22, 2024
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Political developments in the US and China’s surprise move to ease monetary policy dominated headlines earlier this week. How did asset classes react to this news? Here are the market headlines you need to know: headlines: US President Biden withdraws from presidential raceVice President Harris is endorsed as the Democratic…
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US SEC approves first spot ether ETFs to start trading Tuesday (July 23, 2024)
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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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All Ethereum ETFs Approved, To Debut On 23 July 2024
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The cryptocurrency markets have been eagerly awaiting the launch of Ethereum ETFs, and the wait is finally over. The U.S. Securities and Exchange Commission (SEC) has issued a consent A group of Ethereum-based exchange-traded funds (ETFs), paving the way for the ETFs to begin trading on July 23, 2024, the…
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All Ethereum ETFs Approved, To Debut On 23 July 2024
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The cryptocurrency markets have been eagerly awaiting the launch of Ethereum ETFs, and the wait is finally over. The U.S. Securities and Exchange Commission (SEC) has issued a consent A group of Ethereum-based exchange-traded funds (ETFs), paving the way for the ETFs to begin trading on July 23, 2024, the…
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Market Outlook for the Week of 22nd – 26th July
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The foreign exchange calendar is light on events scheduled for Monday and Tuesday. On Tuesday, traders will be watching the US existing home sales data and the Richmond manufacturing index. On Wednesday, focus shifts to the spot services PMI and spot manufacturing PMI for Australia, Japan, the eurozone, the UK…
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Early Monday FX rates – 22 July 2024 – US dollar little changed after Biden pulls out
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I’ve posted the very early interest rates here: Opening levels Monday morning, indicative exchange rates July 22, 2024, little changed from late Friday Now updating with Sunday’s big political news from the US, Biden has withdrawn from the presidential election: It’s finally Gopher. It’s still very early here in Asia,…
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Premium Forex Watch Recaps: July 16 – 17, 2024
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This week, the calendar gave us employment and inflation data updates to work through, prompting our strategists to focus on the NZD and AUD this time around. Of the four scenario/price outlook discussions this week, It can be said that both discussions witnessed the raising of fundamental and technical arguments.…
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Weekly Market Outlook (22-26 July)
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Upcoming Events: Monday:PBoC LPR. Wednesday:Spot PMIs for Japan/Australia/Eurozone/UK/US, Bank of Canada monetary policy decision. ThursdayUS durable goods orders, US jobless claims, US Q2 GDP advance. FridayTokyo Consumer Price Index, US Personal Spending Index. Monday The People’s Bank of China is expected to keep the benchmark mortgage rate unchanged at 3.45%…
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Kickstart the FX trading day for July 19 w/a technical look at the EURUSD, USDJPY & GBPUSD
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In my opening video on July 19, I took a look at the three major currency pairs – EURUSD, USDJPY, and GBPUSD. The EUR/USD pair fell, continuing the decline it started yesterday, and in the process tested its rising 200-hour moving average at 1.08794. This moving average will serve as…
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Global Market Weekly Recap: July 15 – 19, 2024
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Market correlations were a bit mixed this week, suggesting that major assets were mostly moving to their own rhythms. Traders were also likely struggling to balance different themes and stories, including mixed interest rate cut speeches from Fed members, weaker-than-expected global economic activity data, and geopolitical headlines. US stock indices…