UK Breaking News: Service Sector Activity & Manufacturing PMI Plummet
The flash UK PMI data confirmed a dire start to Q4, adding to the likelihood that the UK economy already finds itself in the midst of a recession. Read More
Crypto Staking Platform Freeway Halts Withdrawals
<p>Freeway, a cryptocurrency staking platform, has paused withdrawals citing <a href=”https://www.financemagnates.com/cryptocurrency/eth-is-best-performing-asset-in-july-as-crypto-volatility-decline-continues-report/” target=”_blank”>crypto and forex market volatility</a>. The sudden move of the project is signaling another rug-pull in the crypto space.</p><p>The cryptocurrency project offers ‘Superchargers’ with an annual yield of up to 43 percent. It takes deposits in both fiat and cryptocurrencies, putting them in regulated brokerage accounts.</p><blockquote class=”twitter-tweet”><p lang=”en” dir=”ltr”>As […]
British Pound Bounces After Boris Backdown Amid US Dollar Strengthening
The British pound has found firmer footing after Boris Johnson pulled out the race to be Prime Minister. The US Dollar resumed ascending elsewhere as growth risks re-emerge. Read More
Japanese Yen Whipsawed Against US Dollar on Intervention Speculation
The Japanese Yen continues to lose ground against the US Dollar despite rumours of the Bank of Japan intervening again in USD/JPY. Can central bank selling contain USD/JPY? Read More
AUD/USD Eyes Chinese GDP After Dow Jones Surged Amid Risk-On Move
The Australian Dollar is likely at the mercy of Chinese economic data, which includes the previously delayed third-quarter GDP growth rate. Read More
Markets Week Ahead: Dow Jones, Yields, US Dollar, USD/JPY, EUR/USD, USD/CAD, China GDP, ECB, BoC
An event-filled week is ahead, with Chinese GDP data, US PMIs, and rate decisions from the Bank of Canada and European Central Bank filling the docket. That should keep volatility elevated. Read More
Research: How Bitcoin and Ethereum compare to Global Currencies so far in 2022
The cryptocurrency industry has historically been more volatile than either equities or forex markets. The post Research: How Bitcoin and Ethereum compare to Global Currencies so far in 2022 appeared […]
S&P 500 Week Ahead Forecast: Megacap Tech Earnings in Focus as Fed Enters Blackout
Quarterly results from Alphabet, Microsoft, Meta Platforms, Apple and Amazon will take center stage next week as the Fed’s blackout period temporarily reduces attention on monetary policy. Read More
USD/CAD to Eye Yearly High on Smaller BoC Rate Hike
USD/CAD may attempt to retrace the decline from the yearly high (1.3978) as the Bank of Canada (BoC) is expected to deliver a smaller rate hike. Read More
Euro Forecast for the Week Ahead: EUR/USD Eyes Jumbo ECB Rate Hike as Recession Looms
The Euro is facing an anticipated 75-basis point rate hike from the European Central Bank in the week ahead. Despite recession woes, the ECB will likely press on to fight persistent inflation. Read More