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Bitcoin (BTCUSD) has been struggling to make significant gains in the past few sessions. The sentiment surrounding Bitcoin has deteriorated after facing multiple rejections at the 50-day simple moving average (SMA). This sideways movement has left investors uncertain about the future direction of BTCUSD. The momentum indicators for BTCUSD are currently skewed to the downside.
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In a tragic turn of events, a luxury yacht named “Bayesian,” carrying 22 people, was struck by a violent storm off the coast of Sicily. This incident led to the sinking of the vessel, leaving six individuals missing, including British tech entrepreneur Mike Lynch and his daughter. The missing persons also include high-profile individuals such
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The USD/CHF pair has been experiencing a downward trend, currently trading near 0.8620. The weakening US Dollar can be attributed to the market’s expectation of three quarter-point rate cuts by the Federal Reserve this year. This anticipation has put pressure on the USD, resulting in a bearish sentiment for the currency pair. The upcoming speech
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Investors around the world are eagerly awaiting Federal Reserve Chair Jerome Powell’s speech at the end of this week. The market sentiment is optimistic, with expectations of dovish rhetoric from Powell following a series of signals from other Fed speakers hinting at a September rate cut. This anticipation is reflected in the positive performance of
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The upcoming week poses a critical juncture for the US dollar, as investors closely monitor the possibility of 2024 Fed rate cuts amidst concerns of a US economic downturn. The FOMC Meeting Minutes scheduled for Wednesday, August 21, are likely to draw significant attention from investors, shaping sentiment towards the US economy, labor market, and
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China is facing a series of economic challenges that are putting pressure on policymakers to take drastic actions. Recent data shows that the world’s second-largest economy is struggling to maintain growth, with new home prices falling at the fastest pace in nine years, industrial output slowing down, export and investment growth declining, and unemployment on
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