– The founder of Cardano and co-founder of Ethereum, Charles Hoskinson, has stated that the crypto industry no longer needs bitcoin. According to him, it has become a religious symbol, which means its ecosystem is doomed. “98% of changes in the industry are happening outside of the first cryptocurrency,” writes Hoskinson. “The hash rate of…
The brokerage company NordFX has summarized the trading performance of its clients for August 2024. Additionally, the social trading services, CopyTrading and PAMM, along with the profits earned by the company’s IB partners, were evaluated. ● In August, the top, “golden” spot on the podium was claimed by a client from South Asia, account No….
EUR/USD: Dollar Takes the Offensive ● Since the beginning of July, the DXY dollar index had been declining, reaching an eight-month low of 100.51 on 27 August. The primary reason for this negative trend was the concern about a potential slowdown in the U.S. economy. According to the markets, to support the economy, the Federal…
EUR/USD: Fed Chair Sinks the Dollar ● On Wednesday, 21 August, the DXY dollar index dropped to an eight-month low, finding support at the 100.92 level. Consequently, the EUR/USD pair recorded a 13-month high, reaching 1.1173. The last time it reached such heights was in July 2023. This dynamic can be attributed to the rise…
EUR/USD: Wall Street Triumphs Over the Dollar ● The Dollar Index (DXY) fell throughout the beginning of the week, while the EUR/USD pair rose. This was due to the after-effects of the “Grey Friday” on August 2 and the “Black Monday” on August 5, which we covered in detail in our previous review. The EUR/USD…
EUR/USD: “Black Monday” Following “Grey Friday” ● The past week did not begin on Monday as usual but rather on… Friday. More precisely, the key event that shaped the dynamics of the dollar was the release of US labour market data on Friday, 2 August, which caused turmoil in the markets. The US Bureau of…
EUR/USD: What the ECB and Fed Will Do ● There was a significant amount of news last week, so we will highlight and analyse only the most important ones. Germany set the tone for European statistics, with consumer inflation rising instead of falling. According to the initial estimate, the Consumer Price Index (CPI) increased year-on-year…
The brokerage company NordFX has released the performance results of its clients’ trading activities for July 2024. The evaluation also covered the social trading services, PAMM and CopyTrading, as well as the profits earned by the company’s IB partners. ● The highest profit in July was achieved by a trader from East Asia, account…
EUR/USD: Eurozone – Rising Inflation, Falling Economy ● As revised Eurostat data published on Monday, June 17, showed, inflation (CPI) in the 20 Eurozone countries accelerated to 2.6% (y/y) in May, compared to 2.4% in April when it was at its lowest since November 2023. The consumer price index in the services sector increased annually…
EUR/USD: Hawkish Sentiments of the Fed ● As expected, the key day of last week was Wednesday, 12 June. After the publication of inflation data in the USA, the dollar came under strong pressure. Fresh figures showed that in May, the overall inflation rate (CPI) in annual terms decreased to 3.3% compared to the expected…