AUD/USD consolidates weekly gains below 0.6600 amid light trading
AUD/USD remains confined in a familiar range, consolidating weekly gains below 0.6600 amid a holiday-thinned Friday. The risk-on mood benefits the Aussie, while the US Dollar struggles to capitalize on the post-NFP rally amid concerns that Trump’s tax-cut legislation would worsen the US fiscal condition.
USD/JPY stays week below 145.00 as Japan's upbeat data reaffirms BoJ rate hike bets
USD/JPY is off the lows but stays pressured below 145.00 due to strong household spending data from Japan, which keeps the door open for more rate hikes by the BoJ and lifts the Japanese Yen. The US Dollar stalls the post-NFP advance amid concerns about the worsening US fiscal condition, keeping the pair away from the weekly top.
Gold price attempts a bounce on US fiscal concerns
Gold price is finding fresh buyers near $3,330 in Friday's Asian trading, having stalled the post-NFP pullback from a one-week high. Concerns that Trump’s tax-cut legislation would deepen the nation’s fiscal imbalances for the coming years check the recent US Dollar recovery, supporting the bright metal.
Ethereum ETFs can enjoy staking yields without losing liquidity following Pectra upgrade
Ethereum trades above $2,500 on Thursday, as digital asset price provider CF Benchmarks revealed in a report that the Pectra upgrade has empowered ETH exchange-traded funds with the ability to efficiently earn staking yields without compromising high liquidity standards.
DEEPER DIVE
Why Millennials are using Gold IRAs to reach their retirement goals
This trend is particularly marked among millennials, who are showing a growing appetite for Gold as part of their retirement planning, including the integration of the yellow metal into individual retirement accounts, and more specifically, Gold IRAs, which are becoming more popular.
The US Dollar just posted its worst first-half performance in decades: What’s behind the downfall?
The USD continues to slide, posting its worst first-semester performance in nearly forty years, according to Bloomberg data reported by SMM. While US President Donald Trump's re-election was initially seen as a supportive factor for the Greenback, recent developments reflect a very different reality
Can AI stocks keep pushing equity markets to new highs?
The US stock market has just set new all-time highs, buoyed by a technology wave dominated by AI. The Nasdaq and S&P 500 have erased a violent spring correction in a matter of weeks, and this spectacular recovery owes much to a clearly identified group: tech giants and AI stocks.
CRYPTOCURRENCIES
Algorand triggers technical breakout as network goes multi-chain
Algorand rebounds after forming a double-bottom pattern, targeting a massive breakout to $0.2598 and $0.3665. Algorand announces the launch of Wormhole Native Token transfers, supporting multi-chain interoperability.
Crypto Today: Bitcoin uptrend anchored by institutional demand as Ethereum, XRP extend gains
Cryptocurrencies are generally ticking higher on Thursday, anchored by steady market sentiment. Bitcoin leads the recovery after breaking above the $109,000 resistance. Altcoins edge higher, with Ethereum’s price stepping above $2,600.
Injective extends gains as Testnet goes live amid rising demand for tokenized stocks
Injective rises 5% on Thursday, adding to the double-digit gains from the previous day. Wednesday's sharp gains came on the back of a major network update.
STOCKS
The top three stocks in June
Technology stocks led the surge, as the Nasdaq Composite rose 6.6% last month while the S&P 500 gained 4.9% and the Dow Jones Industrial Average rose 4.3%. It should come as no surprise then that the top three stocks on the S&P 500 in June were all technology stocks. Here are the top 3 stocks on the S&P 500 in June...
Bitcoin miner MARA holdings sees stock jump 11% — Is it a buy?
MARA Holdings (NASDAQ: MARA) stock was surging about 11% higher on Wednesday and there is good reason to suspect that the rally could continue for the Bitcoin miner. The catalyst on Wednesday was a production update and outlook the company posted.
WEEKLY FORECAST
EUR/USD: Middle East crisis out, Fed’s leadership in Premium
Easing Middle East tensions overshadowed by Trump’s threat to fire Fed’s Powell. US employment and European inflation take centre stage in the upcoming days. EUR/USD holds to substantial gains, hinting at higher highs ahead.
GBP/USD: Pound Sterling awaits central bank talks in the NFP week Premium
The Pound Sterling rebounded firmly to hit over three-year highs against the US Dollar. GBP/USD traders await speeches from Powell and Bailey ahead of the US Nonfarm Payrolls. The daily technical setup suggests further upside for the GBP/USD pair.
Gold: Bearish pressure builds up ahead of US employment data Premium
Gold (XAU/USD) came strong under selling pressure and fell below $3,300 as geopolitical tensions in the Middle East eased. The technical outlook reflects a bearish bias in the near term as investors gear up for June employment data from the US.
Bitcoin: Inches away from all-time highs
Bitcoin price recovers nearly 7% so far this week, remaining just inches away from its record levels. Global risk appetite is increasing as the ceasefire between Iran and Israel, along with the Fed's softer stance on crypto-related banking, takes hold.
US Dollar: US labour market will be at centre of debate Premium
The US Dollar Index falls to more than three-year lows this week. The post-ceasefire optimism weighs heavily on the Greenback. The Fed’s next rate cut is expected at the September 17 meeting.
Week ahead – Markets eye Nonfarm Payrolls as Trump’s pressure on Fed mounts
Middle East ceasefire and Fed shenanigans weigh on the Dollar. ISM PMIs and Nonfarm payrolls to impact Fed rate cut bets. Eurozone inflation and ECB forum to be closely monitored by euro traders.
