Financial News

Crypto Technicals: BTC/USD extends correction, eyes 5700 on break below support at 21-EMA

BTC/USD chart - Trading View

Exchange - Coinbase

Support: 6588 (21-EMA); Resistance: 8488 (Jul 24 high)

Technical Analysis: Bias Neutral

BTC/USD is extending weakness for the 2nd straight session.

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FxWirePro: A quick glance through Aussie rates derivatives strategies on RBA cut bids

Following the very weak Q1 CPI release of Australia, the market has re-calibrated its RBA expectations and pushed 3yr swap rates to new record lows quicker than even we had expected under our expectation that the RBA would cut rates in August and November.

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FxWirePro: WTI likely to retest $65 area amid Middle East tensions

Expect a higher oil price.

  • As the Trump administration turns its screw on Iran, ratcheting up tensions in the Middle East, expect the oil price to once again move higher. While Saudi Arabia and OPEC has a spare capacity of almost 2 million barrels, OPEC members have announced that they do not intend to breach the production agreement reached between OPEC and Russia-led Non-OPEC countries last November, when countries agreed to reduce production by 1.2 million barrels per day, creating a supply shortage in the cash market.
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Stable-Coins Series: Coinbase compliance experts now featured in Facebook

Facebook has announced two new veterans joining their compliance team on-board, who formerly played their key role at Coinbase that happens to be the leading major cryptocurrency exchange in the world.

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FxWirePro: USD/JPY likely to correct higher on strong USD

Yen likely to correct lower and USD/JPY to push higher,

  • After failing to clear resistance around 112.2 area, the USD/JPY has corrected lower riding on a weaker U.S. dollar and risk aversion.
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