Bitcoin ASIC miners — machines optimized for the sole purpose of mining Bitcoin — are currently selling at bottom-of-the-barrel prices not seen since 2020 and 2021, in what is being viewed as another sign of a deepened crypto bear market. According to the latest data from Hashrate Index, the most efficient ASIC miners, those generating
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The EURUSD has moved to a new low for the day and in the process is moving closer to the lows for the week. Looking at the hourly chart, the price has been waffling up and down in volatile trading this week. On the topside, the high price has a solid ceiling near the 1.0657
The holiday mood will continue after the Christmas break but that might not mean a pause in the action for stocks ahead of the new year. I’ve highlighted the technical predicament for the S&P 500 for a while now, ever since before we got to the Fed meeting earlier this month here. And that story
Oil prices rose in light trade on Tuesday on concerns that winter storms across the United States are affecting logistics and production of petroleum products and shale oil. Brent crude was up 73 cents, or 0.9%, at $84.65 a barrel by 0122 GMT, while U.S. West Texas Intermediate crude was at $80.41 a barrel, up
USD/JPY retreats from one-week high to snap three-day uptrend. Downside break of weekly support line adds strength to bearish bias. 100, 200 EMAs add to the upside filters. USD/JPY remains depressed around 132.90 as it prints the first daily loss in four during early Tuesday morning in Europe. In doing so, the Yen pair justifies
2022 has been a bumpy year for the cryptocurrency market, with one of the worst bear markets on record and the downfall of some major platforms within the space. The global economy is beginning to feel the consequences of the pandemic, and clearly, this has had an influence on the crypto industry. Below is a
The GBPUSD has traded lower today and to the lowest level since November 30. In the process, the price extended back below the 200 day moving average of 1.20791 (see green step down line on the chart above). On December 1, the price first moved above that moving average level, and although the price made
Despite a bit of a setback over the past few weeks, markets are arguably still sticking with their guns as we look towards next year. It is very much a case of nobody wants to buy what the Fed is selling – at least in terms of pricing and rates. That doesn’t bode well for
Mumbai, The rupee appreciated 17 paise to close at 82.65 (provisional) against the US dollar on Monday, tracking positive domestic equities and the weakening of the American currency in the overseas market. At the interbank foreign exchange market, the local unit opened at 82.79 and touched an intra-day high of 82.63 and a low of
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As the US stocks get hammered with the Nasdaq index now down -3.37% and the S&P down over 2.55%, the AUDUSD is taking on some downside price pressures on “risk-off” sentiment. Looking at the daily chart, that move has the AUDUSD pair down testing the 100 day MA at 0.6658. The last 6 trading days
Gold prices were flat during early Asian hours on Friday, as traders awaited economic data due later in the day to gauge the Federal Reserve‘s rate hike stance. * Spot gold was little changed at $1,793.22 per ounce as of 0034 GMT. U.S. gold futures rose 0.3% to $1,801.20. * Investors’ attention turns to personal
Big institutional investors are still largely staying away from the crypto market, as the asset class’ volatility poses a challenge to money managers, Jared Gross, head of institutional portfolio strategy at JPMorgan Asset Management, told Bloomberg. “As an asset class, crypto is effectively nonexistent for most large institutional investors,” Gross noted, explaining that “the volatility is too
The USDCHF is trading to a new session high and in the process has moved into a swing area (see red numbered circles). That area comes in between 0.9311 to 0.9325. On Monday, the price moved above that area reaching highs at 0.9346 and later at 0.9340. Both of those moves took the price above
Today’s Canadian GDP data and federal budget stats highlighted an economy that was on a solid footing in Q4 and some of the tailwinds from oil prices. The numbers helped to cap USD/CAD at 1.3700 this week and after several attempts at that level failed, the pair has sagged down to 1.3563, which is the
New Delhi: Gold prices edged down at open, and were stuck in a tight range on Friday, amid thin trading. Bullion prices dropped fter US economic data highlighted the country’s economy rebounded faster than previously estimated, boosting the dollar and potentially setting the Fed on a keener path to fight inflation. Gold futures on were