XBTFX

XBTFX

As the Feds December meeting is approaching, so the market nervousness is increasing. During the previous week the 10Y US benchmark reverted back toward the 4,4% level, from 4,2% traded previously. Such a move was a reflection of market expectations that the Fed will cut interest rates by additional 25 bps on December 18th. Also, ahead of the FOMC meeting,...

XBTFX

The price of gold slipped a bit during the previous week, to adjust for the rise of the US Dollar. The highest-lowest trading range was between levels of $2.725 down to $2.650 where the price is closing the week. Still, analysts see this drop in price as only a temporary move, considering the FOMC meeting scheduled for December 18th, where the Fed is expected to...

XBTFX

A week after the S&P 500 reached a new ATH, the market slowed down a bit during the previous week. The new ATH has been tested for a potential for further move toward the upside, however, there has not been enough market strength, so the index reverted just a bit to the downside. The lowest weekly level reached was 6.030 points. The market's beloved tech...

XBTFX

The most important event for the eurusd currency pair during the previous week was the ECB meeting, where euro interest rates were cut by another 25 basis points, bringing the deposit rate to 3%. In an after the meeting address to the public, ECB president Lagarde noted that more cuts might come in the early 2025, which will set the euro rates to neutral. Analysts...

XBTFX

BTC had a relatively mixed week, but was traded around some positive news. Namely, the CEO of BlackRock, the largest investment company in the US, expressed his opinion that an optimised portfolio should contain up to 10% exposure in BTC. This is how BlackRock is advising its clients. Still, BTC started the week in a negative sentiment, reaching its lowest weekly...

XBTFX

Last week in the news The ECB cut euro reference rates by 25 basis points, which the market expects also for Fed at their FOMC meeting on December 18th. Markets were traded in a relatively mixed manner during the previous week, positioning as per expectations for the forthcoming rate cut. The S&P 500 tested for one more time the recent ATH, however, ended the...

XBTFX

The NFP data were in the center of market attention during the previous week. Analysts perceived posted data as “not too hot and not too cold”. Indeed, they were somewhere in between. The US economy added 227K new jobs, which was higher from market estimate, but at the same time the unemployment rate reached 4,2%, a modest increase from 4,1% posted previously....

XBTFX

During the previous week the price of gold was sort of side-traded. Although the US Dollar lost some of its strength, especially after the NFP data, the price of gold was staying relatively still. The weekly highest-lowest range was between levels of $2.664 down to $2.618 reached at Friday trading season. It seems that the market is currently not sure which side...

XBTFX

The positive track for S&P 500 continued for another week. The index reached a fresh new all time highest level during the previous week, at the level of 6.090. November jobs data were in the center of attention of investors, which witholded the positive sentiment during the first week of December. The US economy added 227K new jobs, which was modestly higher from...

XBTFX

The Non-farm Payrolls for November were the main macro indicator that the market was waiting for during the previous week. The NFP of 227K in November was slightly above the market expectations of 200K. At the same time, the unemployment rate in November increased a bit to 4,2%, from the previous 4,1%. Average hourly earnings were higher by 0,4% for the month,...

XBTFX

The long awaited $100K target came finally during the previous week. This is another significant milestone for BTC and the crypto market. Although BTC was struggling during the first half of the week to push the price toward the higher grounds, still, news regarding a new SEC leadership pushed the price above the $100K target for the first time in the history of...

XBTFX

Last week in the news A positive sentiment still holds on financial markets, but a star of the previous week was BTC. The value of BTC managed to cross the $100K level for the first time in history of this coin. The US equity markets also traded in a positive sentiment for the third consecutive week, with the S & P 500 reaching a fresh new all time highest level...

XBTFX

Regardless of a Thanksgiving Holiday in the US, during the previous week the 10Y US Treasury yields slides back till the levels from October this year. The yields started the week around the level of 4,42% while they are ending the week at 4,17%. Feds favourite inflation gauge, the PCE Price Index was released early in the week, which was in line with market...

XBTFX

As geopolitical tensions weakened during the previous week, and following negative correlation toward the US Dollar strengthening, the price of gold made a short term correction during the previous week. The price of gold started the week by testing the $2,7K resistance line, however, it swiftly reverted toward the downside, reaching its lowest weekly level at...

XBTFX

Analysts are noting that the S&P 500 ended its best week in 2024. Although the year is slowly approaching the New Year holidays in December, the market sentiment continues to remain quite strong. The index reached its fresh new all time highest level at 6.043, breaking its 6K level. One of the topics which pushed the semiconductor and chip producers shares to...

XBTFX

The most important macro indicator posted during the previous week was the PCE indicator for October, a Fed's favorite inflation gauge. Posted data show that the PCE Price Index increased by 0,2% on a monthly basis, while core PCE was up by 0,3%. Both figures were in line with market expectations. Personal Income was increased by 0,6% for the month, while Personal...

XBTFX

Although it seems that the BTC slowed down its path toward the upside, still, charts seem more like a short pause before the next final milestone is reached for this year. Previous week was a little bit bumpy for BTC, as the coin modestly reverted toward the downside, reaching the lowest weekly level at $91.115. The support line at $90K has not been clearly...

XBTFX

Last week in the news Regardless of a Thanksgiving Holiday in the US during the previous week, markets ended November with a positive sentiment. The US equity market ended its one of best months in the year, with the S & P 500 reaching its new all-time highest level at 6.040. Decreased geopolitical risks and strengthening of US Dollar, impact the price of gold to...