FX Market View #24

Central Bank Meetings are the order of the week A slew of central bank meetings in the week ahead will keep the markets engaged in monitoring the currency majors. Specific attention on Dollar strengthening as the market looks for potential trending patterns to emerge. All in all, there will be a release of policy data…

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Digital Asset Insights #33

Ukraine Adopts New Law To Legalize Bitcoin And Other Cryptocurrencies Ukraine is the latest to join the growing list of countries that have legalized crypto. Seems as times go by, more governments are acknowledging the staying power of cryptocurrencies such as Bitcoin. El Salvador became the first country to adopt Bitcoin as legal tender earlier…

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Digital Asset Insights #32

7 out of 10 Salvadorans want to repeal the new Bitcoin (BTC) law Seven out of every ten Salvadoran citizens want their political representatives to repeal the newly instated Bitcoin law because they do not believe Bitcoin will solve the country’s financial problems. This is a finding of the latest survey from the University Institute…

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FX Market View #23

Market looking to Trade the ‘Corona’ Delta The Dollar could not hold onto the gains made earlier in the week, as it paired losses against most currency majors as well as emerging market currencies. The catalyst behind the sliding Dollar most likely stemmed from two sources. Firstly, the geo-political environment heated up following the inconclusive…

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Digital Asset Insights #31

Bitcoin ‘whale’ behaviour that preceded April’s $64,000 high is back So, just what are Bitcoin whales doing lately? These holders of huge quantities of Bitcoin (BTC) are continuing to buy the asset even as the crypto markets saw a recent dip, data from several sources shows. Most analysts believe it is just such investment behavior that precedes…

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Digital Asset Insights #30

Emerging markets like Nigeria, Kenya led 880% global crypto growth in 2021 A recently published report by on-chain research firm Chainalysis was prepared as an effort to measure grassroots cryptocurrency adoption amid the enormous growth seen in the crypto market over the year due to traction from industries. It has revealed a surge of over 880% in…

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Digital Asset Insights #29

Total crypto market cap back above $2 trillion, FUD now a distant memory The total crypto market cap edged above $2 trillion early last week, making a 12-week high as the market leader, Bitcoin, targeted $50,000, which is a level not seen since FUD ramped up just as the summer season got underway. Many were filled with…

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Digital Asset Insights #28

US senator says proposed crypto laws are a ‘huge mistake’ United States Senator Mike Lee of Utah has raised concerns that the crypto tax provision in the $1.2 trillion infrastructure bill will send more citizens below the poverty benchmark line. Warning that passing the legislation, which he feels is unproven, would stifle innovation in the country, while…

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FX Market View #22

Dollar heads higher on growing US jobs data The Dollar ascended against the currency majors last week, snapping its decline in the beginning of August. Higher than expected jobs growth data was the stimulus that supported the greenback’s upwards trajectory. As a result, US 10-year yields reversed its five week decline, contributing toward the Dollar…

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Digital Asset Insights #27

Dogecoin (Doge), Bitcoin (BTC) recover after brief early Monday, August 2nd sell off Bitcoin and Dogecoin lost over 5% each last Sunday night after a brief sell-off in the crypto markets. Although they had regained most of the losses by Monday morning of last week, futures traders were left nursing millions of dollars in losses. BTC had lost…

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Digital Asset Insights #26

US FEDS WANT TO TAME ‘WILDCAT’ STABLECOINS LIKE TETHER AND USDC A professor of finance at Yale, Gary Gorton, and US Federal Reserve attorney Jeffery Zhang penned a research paper entitled “Taming Wildcat Stablecoins,” which was published in the Social Science Research Network (SSRN). The paper strongly urges supervision of Stablecoins. They argued that introducing a central bank…

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FX Market View #21

Only equity markets trade higher as risk appetite falls As the Delta variant of the corona virus subdued several major economies around the globe, the Dollar strengthened last week. In countries such as Japan and Australia as well as parts of the Eurozone, economic activities had fallen due to the implementation of some quarantine restrictions.…

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FX Market View #20

Dollar rally’s on inflation and retail sales data The Dollar rally’s against all major currencies last week apart for the Yen, to break the resistance it faced earlier in the month. A contributing factor towards the slight rally in Yen is put down to the BOJ tweaking its macro forecasts during Friday’s meeting. In effect,…

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Digital Asset Insights #25

Diamond auctioned for $12 million worth of crypto at Sotheby’s The famous auction house, Sotheby, announced early last week that it had sold a diamond worth $12 million, and its buyer paid in an unspecified cryptocurrency. The diamond is the second-largest pear-shaped diamond, tagged Key 101.38, to be sold in public, according to the firm. The auction…

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FX Market View #19

Dollar resists short term sell-off and trades higher In the past week the Dollar faced resistance to its near-term trend of strengthening against the currency majors. Despite the fact that the jobs report released in the beginning of the month showed robust numbers, the greenback initially declined following a bout of profit-taking. However, the short-selling…

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Digital Asset Insights #24

ETH bumps ahead of Ethereum ‘London’ upgrade. But what’s it about? Ethereum touched just shy $2.4k early last week, making a two-week high, closing three consecutive daily green candles against Bitcoin, and taking ETHBTC to 0.066782 at the time of writing. Some analysts attribute this strength to the up-and-coming London upgrade wherein the Rinkeby testnet…

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FX Market View #18

Is this the time to buy into the Dollar dip? Following a hawkish view from the FED, the markets have priced in at least one rate hike before the end of next year. This contributed towards a Dollar recovery in the past 7 days; however the technical picture appears stretched. The Dollar near-term trend starting…

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Digital Asset Insights #23

“Get more Bitcoin,” says Rich Dad author warning of ‘Biggest Crash in History’ American businessman and best-selling author Robert Kiyosaki says a global crash of epic proportions is coming. “The best time to prepare for a crash is before the crash. The biggest crash in world history is coming. The good news is the best…

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FX Market View #17

Dollar experiences technical weakening gainst the majors During the past week the Dollar was pushed back as it failed to consolidate weeks of gains against the currency majors. From a technical stance this scenario is not totally unexpected. If you include a more hawkish tone from the FED with economic data revealing an increase in…

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Digital Asset Insights #22

MicroStrategy buys 13,005 more Bitcoin, now holds 105,000 BTC CEO Michael Saylor of the business analytics firm MicroStrategy said in a tweet in the beginning of last week that his company has acquired 13,005 more Bitcoin (BTC). The firm now holds over 105,000 Bitcoin in total. Saylor tweeted, “MicroStrategy has purchased an additional 13,005 bitcoins for ~$489…

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