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.

Latest Posts

• Markets to Watch This Week: Nasdaq 100, US Dollar,BoJ and more
  There continued to be hesitancy in global market sentiment. Wall Street started off 2022 on a sour note, though the second week was less painful. Nasdaq 100 futures were little changed. This is as Dow Jones and S&P 500 futures declined about 0.8% and 0.3% respectively. European and Asia-Pacific benchmark stock indices did not fare any better. Global monetary policy tightening […]
• Market Week Ahead: Inflation Data, Bitcoin, Powell Testimony, and more
  Even though market sentiment started off 2022 on a sour note, there were clear winners and losers on Wall Street. Dow Jones futures declined about 0.1% this past week, while the tech-heavy Nasdaq 100 sank about 4.35% in the worst performance since February. The coming week will bring closely followed inflation figures, while Federal Reserve Chair Jerome Powell […]
• Market Week Ahead: Monetary Policy Meeting, Retail Sales, etc.
  The broad US dollar remained under pressure on Friday and will end this week on a bearish note as investors digest the Bank of England’s (BOE) unexpected interest rate hike and the European Central Bank’s (ECB) shift to a more hawkish attitude. Looking ahead to the coming week, the series of retail sales, the minutes of the […]
• Markets Week Ahead: Nasdaq 100, US Dollar, Gold, Euro, British Pound, Fed and more
  Market mood recovered this past week around the world. On Wall Street, the Nasdaq 100 and S&P 500 gained 3.82% and 3.65% respectively. Across the Atlantic, the Euro Stoxx 50 and FTSE 100 climbed 2.95% and 2.62% respectively. In the Asia-Pacific region, the Nikkei 225 climbed 0.89% while Australia’s ASX 200 jumped 4.05%. Volatility was crushed, with the VIX market ‘fear gauge’ sinking about 39% in the worst week […]
• Market Week Ahead: Omicron Concerns, Inflation Data, Crypto
  Developments around the Omicron coronavirus variant will continue to be the main driver of market sentiment in the week ahead and this news flow, together with a hawkish turn by the Federal Reserve, means Friday’s inflation data will be in the spotlight. Inflation Data The highlight of the economic calendar will be Friday’s November consumer […]

SHARE: