Market Update Today: US Dollar, Bitcoin, Oil Price, and more

Dollar edges higher with Friday’s payrolls data in focus

EUR/USD – Euro US Dollar
P: 1.1596
A : 1.1600 +0.0004 +0.03%

GBP/USD – British Pound US Dollar
P: 1.3629
A: 1.3628 -0.0001 -0.01%

USD/JPY – US Dollar Japanese Yen
P: 111.45
A: 111.50 +0.05 +0.04%

Traders remained circumspect ahead of key payrolls report at the end of the week that could provide clues to the U.S. Federal Reserve’s next move.

Property developer Hopson Development Holding Co is reportedly to acquire about 51 percent of the indebted Evergrande group’s property management unit, and the deal could be valued at more than 40 billion HKD ($5.14 billion), according to media reports.

Oil hits Multi- highs as OPEC+ sticks to output

WTI
P:79.09
A:79.14
BRENT
P:82.71
A:82. 76

Oil prices have climbed more than 50% in 2021
Demand has bounced back, supply struggled to keep up
OPEC+ wary of any new coronavirus surge, source says.

Bitcoin Soars to $50,000 Again on Institutional Demand

P = 48,918.4 A = 51,482.9 +2552.3 +5.22%

Bitcoin, the world’s largest cryptocurrency in terms of market value, rose on Tuesday, passing the $50,000 mark for the first time in four weeks and adding to gains this month on mounting institutional interest.

Market participants cited the increase in institutional crypto services from banks and financial institutions to cope with rising investor demand, as one factor driving bitcoin’s surge.

In early September, bitcoin fell below $50,000 during a broad selloff in shares of cryptocurrency and blockchain-related firms. It fell further in September, hitting a low of $40,596 on Sept. 21.

Gold down as Dollar strengthens, but continuous inflation concerns cap losses

P: 1762.54 – 2.31
A: 1760.28 – .05%
NFP forecast: 470k

Continuing inflation concerns saw the yellow metal trade close to a more than one-week peak hit during the previous session.

Investors waiting for NFP report this Friday.

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