The price of Bitcoin has rebounded strongly since Sunday. The leading cryptocurrency has gained nearly 20% since Sunday and about 35% over a week.
The EURUSD continues to consolidate as it awaits the outcome of the FOMC monetary policy meeting on Wednesday night.
Bitcoin is jumping to its highest level in six weeks on Monday, with some investors attributing the rise to speculation that Amazon may venture into digital currencies.
The EURUSD continues to trade flat at a bearish bias on Friday despite the ECB's dovish tone on Thursday which should have alleviated the selling pressure on the pair.
The European Central Bank pledged on Thursday to keep rates low for an extended period and to support the Eurozone economy until inflation stabilizes at 2% on a sustainable basis.
EURUSD is expected to remain stable ahead of tomorrow's ECB July meeting with the increasing risk that the ECB will adopt an accommodative tone. This should limit the euro dollar's rise ahead of the meeting.
Seven in 10 institutional investors plan to invest in or buy cryptocurrencies in the future, although price volatility is a drag on new entrants, according to a study by Fidelity.
Oil prices fell after OPEC and its allies agreed to end oil production cuts but also because the spread of the pandemic poses a risk to the strength of demand.
The EURUSD is at a crossroads moving between a medium-term bullish oblique and the bearish oblique of a short-term wedge.
The New Zealand dollar is up sharply this morning against other major currencies after bouncing off major support following the RBNZ's decision to end its "LSAP" QE.
U.S. consumers faced a third straight monthly increase in prices in June, the latest evidence that the rapidly reopening economy is fuelling pent-up spending on goods and services that, in many cases, remain scarce.
The EURUSD has been trying to rebound since Friday after returning to test a major support oblique last Thursday following the economic fears posed by the spread of the Delta variant.
Pressure is building on the Chinese yuan, which is back to a nearly three-month low against the greenback following disappointing Chinese inflation data and monetary policy easing by the People's Bank of China (PBOC).
In a major policy review presented Thursday, the European Central Bank decided to revise its inflation target and allow consumer prices to rise above the limits when deemed necessary.
WTI crude oil prices fell sharply Tuesday on doubts about OPEC+'s cohesion after the cartel's meeting ended in confusion Monday.
Growth in service sector activity slowed more than expected in June. After reaching a record 64 points in May, the ISM services index came in at 60.1 last month, compared with a consensus of 63.5.
Last Friday, OPEC+ failed to reach an agreement on reducing its oil production restrictions.
The U.S. economy created more jobs than expected in June but the job market is far from having fully recovered from the pandemic, the Labour Department announced Friday, reporting a slightly higher unemployment rate.
The dollar continues to rebound against the Japanese yen, with USDJPY hitting a one-year high of 111 this morning in the face of diverging monetary policies and health conditions.
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