Month: October 2023

Gold retests $2,000/oz on geopolitical risk and recession fears

Posted on by Vrasidas Neofytou

The surging U.S. bond yields and inflation, the stronger greenback, the higher energy and production expenses, and the elevated borrowing costs have brought major headwinds for corporations across the board, especially in the growth-sensitive technology sector.

Gold’s rally accelerated on Wednesday following a steep sell-off in the mega-cap technology stocks after some disappointing Q3 earnings, with tech giant Alphabet slumping nearly 10% after its cloud division missed revenue estimates, while Amazon and Nvidia followed with 4% losses each.

The surging U.S. bond yields and inflation, the stronger greenback, the higher energy and production expenses, and the elevated borrowing costs have brought major headwinds for corporations across the board, especially in the growth-sensitive technology sector.

Gold’s rally accelerated on Wednesday following a steep sell-off in the mega-cap technology stocks after some disappointing Q3 earnings, with tech giant Alphabet slumping nearly 10% after its cloud division missed revenue estimates, while Amazon and Nvidia followed with 4% losses each.

The surging U.S. bond yields and inflation, the stronger greenback, the higher energy and production expenses, and the elevated borrowing costs have brought major headwinds for corporations across the board, especially in the growth-sensitive technology sector.

Germany, Europe’s largest economy and heavy industrial leader in the region had entered a recession earlier this year. At the same time, its Manufacturing and Services PMI remained in contraction at the start of the fourth quarter.

Gold’s rally accelerated on Wednesday following a steep sell-off in the mega-cap technology stocks after some disappointing Q3 earnings, with tech giant Alphabet slumping nearly 10% after its cloud division missed revenue estimates, while Amazon and Nvidia followed with 4% losses each.

The surging U.S. bond yields and inflation, the stronger greenback, the higher energy and production expenses, and the elevated borrowing costs have brought major headwinds for corporations across the board, especially in the growth-sensitive technology sector.

Germany, Europe’s largest economy and heavy industrial leader in the region had entered a recession earlier this year. At the same time, its Manufacturing and Services PMI remained in contraction at the start of the fourth quarter.

Gold’s rally accelerated on Wednesday following a steep sell-off in the mega-cap technology stocks after some disappointing Q3 earnings, with tech giant Alphabet slumping nearly 10% after its cloud division missed revenue estimates, while Amazon and Nvidia followed with 4% losses each.

The surging U.S. bond yields and inflation, the stronger greenback, the higher energy and production expenses, and the elevated borrowing costs have brought major headwinds for corporations across the board, especially in the growth-sensitive technology sector.

This statement is supported by the official data released on Tuesday showed that the Eurozone’s Manufacturing and Services activity had further declined in October, which raised concerns over a potential recession in the region.

Germany, Europe’s largest economy and heavy industrial leader in the region had entered a recession earlier this year. At the same time, its Manufacturing and Services PMI remained in contraction at the start of the fourth quarter.

Gold’s rally accelerated on Wednesday following a steep sell-off in the mega-cap technology stocks after some disappointing Q3 earnings, with tech giant Alphabet slumping nearly 10% after its cloud division missed revenue estimates, while Amazon and Nvidia followed with 4% losses each.

The surging U.S. bond yields and inflation, the stronger greenback, the higher energy and production expenses, and the elevated borrowing costs have brought major headwinds for corporations across the board, especially in the growth-sensitive technology sector.

This statement is supported by the official data released on Tuesday showed that the Eurozone’s Manufacturing and Services activity had further declined in October, which raised concerns over a potential recession in the region.

Germany, Europe’s largest economy and heavy industrial leader in the region had entered a recession earlier this year. At the same time, its Manufacturing and Services PMI remained in contraction at the start of the fourth quarter.

Gold’s rally accelerated on Wednesday following a steep sell-off in the mega-cap technology stocks after some disappointing Q3 earnings, with tech giant Alphabet slumping nearly 10% after its cloud division missed revenue estimates, while Amazon and Nvidia followed with 4% losses each.

The surging U.S. bond yields and inflation, the stronger greenback, the higher energy and production expenses, and the elevated borrowing costs have brought major headwinds for corporations across the board, especially in the growth-sensitive technology sector.

Investors believe that the higher interest rates and the expensive raw materials in the major global economies of the USA and Europe could lead to weaker business activity in the following months, leading to weaker profitability and employment.

This statement is supported by the official data released on Tuesday showed that the Eurozone’s Manufacturing and Services activity had further declined in October, which raised concerns over a potential recession in the region.

Germany, Europe’s largest economy and heavy industrial leader in the region had entered a recession earlier this year. At the same time, its Manufacturing and Services PMI remained in contraction at the start of the fourth quarter.

Gold’s rally accelerated on Wednesday following a steep sell-off in the mega-cap technology stocks after some disappointing Q3 earnings, with tech giant Alphabet slumping nearly 10% after its cloud division missed revenue estimates, while Amazon and Nvidia followed with 4% losses each.

The surging U.S. bond yields and inflation, the stronger greenback, the higher energy and production expenses, and the elevated borrowing costs have brought major headwinds for corporations across the board, especially in the growth-sensitive technology sector.

Investors believe that the higher interest rates and the expensive raw materials in the major global economies of the USA and Europe could lead to weaker business activity in the following months, leading to weaker profitability and employment.

This statement is supported by the official data released on Tuesday showed that the Eurozone’s Manufacturing and Services activity had further declined in October, which raised concerns over a potential recession in the region.

Germany, Europe’s largest economy and heavy industrial leader in the region had entered a recession earlier this year. At the same time, its Manufacturing and Services PMI remained in contraction at the start of the fourth quarter.

Gold’s rally accelerated on Wednesday following a steep sell-off in the mega-cap technology stocks after some disappointing Q3 earnings, with tech giant Alphabet slumping nearly 10% after its cloud division missed revenue estimates, while Amazon and Nvidia followed with 4% losses each.

The surging U.S. bond yields and inflation, the stronger greenback, the higher energy and production expenses, and the elevated borrowing costs have brought major headwinds for corporations across the board, especially in the growth-sensitive technology sector.

The resuming recession fears around the world and the lower-than-expected Q3 U.S. earnings are darkening the global economic growth outlook for 2023-2024, keeping haven demand for gold upbeat in October.

Investors believe that the higher interest rates and the expensive raw materials in the major global economies of the USA and Europe could lead to weaker business activity in the following months, leading to weaker profitability and employment.

This statement is supported by the official data released on Tuesday showed that the Eurozone’s Manufacturing and Services activity had further declined in October, which raised concerns over a potential recession in the region.

Germany, Europe’s largest economy and heavy industrial leader in the region had entered a recession earlier this year. At the same time, its Manufacturing and Services PMI remained in contraction at the start of the fourth quarter.

Gold’s rally accelerated on Wednesday following a steep sell-off in the mega-cap technology stocks after some disappointing Q3 earnings, with tech giant Alphabet slumping nearly 10% after its cloud division missed revenue estimates, while Amazon and Nvidia followed with 4% losses each.

The surging U.S. bond yields and inflation, the stronger greenback, the higher energy and production expenses, and the elevated borrowing costs have brought major headwinds for corporations across the board, especially in the growth-sensitive technology sector.

The resuming recession fears around the world and the lower-than-expected Q3 U.S. earnings are darkening the global economic growth outlook for 2023-2024, keeping haven demand for gold upbeat in October.

Investors believe that the higher interest rates and the expensive raw materials in the major global economies of the USA and Europe could lead to weaker business activity in the following months, leading to weaker profitability and employment.

This statement is supported by the official data released on Tuesday showed that the Eurozone’s Manufacturing and Services activity had further declined in October, which raised concerns over a potential recession in the region.

Germany, Europe’s largest economy and heavy industrial leader in the region had entered a recession earlier this year. At the same time, its Manufacturing and Services PMI remained in contraction at the start of the fourth quarter.

Gold’s rally accelerated on Wednesday following a steep sell-off in the mega-cap technology stocks after some disappointing Q3 earnings, with tech giant Alphabet slumping nearly 10% after its cloud division missed revenue estimates, while Amazon and Nvidia followed with 4% losses each.

The surging U.S. bond yields and inflation, the stronger greenback, the higher energy and production expenses, and the elevated borrowing costs have brought major headwinds for corporations across the board, especially in the growth-sensitive technology sector.

Gold price, Daily chart

The resuming recession fears around the world and the lower-than-expected Q3 U.S. earnings are darkening the global economic growth outlook for 2023-2024, keeping haven demand for gold upbeat in October.

Investors believe that the higher interest rates and the expensive raw materials in the major global economies of the USA and Europe could lead to weaker business activity in the following months, leading to weaker profitability and employment.

This statement is supported by the official data released on Tuesday showed that the Eurozone’s Manufacturing and Services activity had further declined in October, which raised concerns over a potential recession in the region.

Germany, Europe’s largest economy and heavy industrial leader in the region had entered a recession earlier this year. At the same time, its Manufacturing and Services PMI remained in contraction at the start of the fourth quarter.

Gold’s rally accelerated on Wednesday following a steep sell-off in the mega-cap technology stocks after some disappointing Q3 earnings, with tech giant Alphabet slumping nearly 10% after its cloud division missed revenue estimates, while Amazon and Nvidia followed with 4% losses each.

The surging U.S. bond yields and inflation, the stronger greenback, the higher energy and production expenses, and the elevated borrowing costs have brought major headwinds for corporations across the board, especially in the growth-sensitive technology sector.

Gold price, Daily chart

The resuming recession fears around the world and the lower-than-expected Q3 U.S. earnings are darkening the global economic growth outlook for 2023-2024, keeping haven demand for gold upbeat in October.

Investors believe that the higher interest rates and the expensive raw materials in the major global economies of the USA and Europe could lead to weaker business activity in the following months, leading to weaker profitability and employment.

This statement is supported by the official data released on Tuesday showed that the Eurozone’s Manufacturing and Services activity had further declined in October, which raised concerns over a potential recession in the region.

Germany, Europe’s largest economy and heavy industrial leader in the region had entered a recession earlier this year. At the same time, its Manufacturing and Services PMI remained in contraction at the start of the fourth quarter.

Gold’s rally accelerated on Wednesday following a steep sell-off in the mega-cap technology stocks after some disappointing Q3 earnings, with tech giant Alphabet slumping nearly 10% after its cloud division missed revenue estimates, while Amazon and Nvidia followed with 4% losses each.

The surging U.S. bond yields and inflation, the stronger greenback, the higher energy and production expenses, and the elevated borrowing costs have brought major headwinds for corporations across the board, especially in the growth-sensitive technology sector.

Gold price, Daily chart

The resuming recession fears around the world and the lower-than-expected Q3 U.S. earnings are darkening the global economic growth outlook for 2023-2024, keeping haven demand for gold upbeat in October.

Investors believe that the higher interest rates and the expensive raw materials in the major global economies of the USA and Europe could lead to weaker business activity in the following months, leading to weaker profitability and employment.

This statement is supported by the official data released on Tuesday showed that the Eurozone’s Manufacturing and Services activity had further declined in October, which raised concerns over a potential recession in the region.

Germany, Europe’s largest economy and heavy industrial leader in the region had entered a recession earlier this year. At the same time, its Manufacturing and Services PMI remained in contraction at the start of the fourth quarter.

Gold’s rally accelerated on Wednesday following a steep sell-off in the mega-cap technology stocks after some disappointing Q3 earnings, with tech giant Alphabet slumping nearly 10% after its cloud division missed revenue estimates, while Amazon and Nvidia followed with 4% losses each.

The surging U.S. bond yields and inflation, the stronger greenback, the higher energy and production expenses, and the elevated borrowing costs have brought major headwinds for corporations across the board, especially in the growth-sensitive technology sector.

The safe-haven demand for gold has pushed its price to retest the key levels of $2,000/oz, (currently at $1,992/oz) adding $170/oz, or almost 10% gains since the start of the Israel-Hamas conflict on October 07, while silver added $3/oz or nearly 15% in the same period.

Gold price, Daily chart

The resuming recession fears around the world and the lower-than-expected Q3 U.S. earnings are darkening the global economic growth outlook for 2023-2024, keeping haven demand for gold upbeat in October.

Investors believe that the higher interest rates and the expensive raw materials in the major global economies of the USA and Europe could lead to weaker business activity in the following months, leading to weaker profitability and employment.

This statement is supported by the official data released on Tuesday showed that the Eurozone’s Manufacturing and Services activity had further declined in October, which raised concerns over a potential recession in the region.

Germany, Europe’s largest economy and heavy industrial leader in the region had entered a recession earlier this year. At the same time, its Manufacturing and Services PMI remained in contraction at the start of the fourth quarter.

Gold’s rally accelerated on Wednesday following a steep sell-off in the mega-cap technology stocks after some disappointing Q3 earnings, with tech giant Alphabet slumping nearly 10% after its cloud division missed revenue estimates, while Amazon and Nvidia followed with 4% losses each.

The surging U.S. bond yields and inflation, the stronger greenback, the higher energy and production expenses, and the elevated borrowing costs have brought major headwinds for corporations across the board, especially in the growth-sensitive technology sector.

The safe-haven demand for gold has pushed its price to retest the key levels of $2,000/oz, (currently at $1,992/oz) adding $170/oz, or almost 10% gains since the start of the Israel-Hamas conflict on October 07, while silver added $3/oz or nearly 15% in the same period.

Gold price, Daily chart

The resuming recession fears around the world and the lower-than-expected Q3 U.S. earnings are darkening the global economic growth outlook for 2023-2024, keeping haven demand for gold upbeat in October.

Investors believe that the higher interest rates and the expensive raw materials in the major global economies of the USA and Europe could lead to weaker business activity in the following months, leading to weaker profitability and employment.

This statement is supported by the official data released on Tuesday showed that the Eurozone’s Manufacturing and Services activity had further declined in October, which raised concerns over a potential recession in the region.

Germany, Europe’s largest economy and heavy industrial leader in the region had entered a recession earlier this year. At the same time, its Manufacturing and Services PMI remained in contraction at the start of the fourth quarter.

Gold’s rally accelerated on Wednesday following a steep sell-off in the mega-cap technology stocks after some disappointing Q3 earnings, with tech giant Alphabet slumping nearly 10% after its cloud division missed revenue estimates, while Amazon and Nvidia followed with 4% losses each.

The surging U.S. bond yields and inflation, the stronger greenback, the higher energy and production expenses, and the elevated borrowing costs have brought major headwinds for corporations across the board, especially in the growth-sensitive technology sector.

Growing worries that the “well-expected” ground invasion of Israel to Gaza could potentially spread the conflict in the Middle East region, has deteriorated the risk appetite in global financial markets, adding pressure on equities and growth-sensitive assets and currencies, and sending investors to the safety of bullion, the gold, and silver.

The safe-haven demand for gold has pushed its price to retest the key levels of $2,000/oz, (currently at $1,992/oz) adding $170/oz, or almost 10% gains since the start of the Israel-Hamas conflict on October 07, while silver added $3/oz or nearly 15% in the same period.

Gold price, Daily chart

The resuming recession fears around the world and the lower-than-expected Q3 U.S. earnings are darkening the global economic growth outlook for 2023-2024, keeping haven demand for gold upbeat in October.

Investors believe that the higher interest rates and the expensive raw materials in the major global economies of the USA and Europe could lead to weaker business activity in the following months, leading to weaker profitability and employment.

This statement is supported by the official data released on Tuesday showed that the Eurozone’s Manufacturing and Services activity had further declined in October, which raised concerns over a potential recession in the region.

Germany, Europe’s largest economy and heavy industrial leader in the region had entered a recession earlier this year. At the same time, its Manufacturing and Services PMI remained in contraction at the start of the fourth quarter.

Gold’s rally accelerated on Wednesday following a steep sell-off in the mega-cap technology stocks after some disappointing Q3 earnings, with tech giant Alphabet slumping nearly 10% after its cloud division missed revenue estimates, while Amazon and Nvidia followed with 4% losses each.

The surging U.S. bond yields and inflation, the stronger greenback, the higher energy and production expenses, and the elevated borrowing costs have brought major headwinds for corporations across the board, especially in the growth-sensitive technology sector.

Growing worries that the “well-expected” ground invasion of Israel to Gaza could potentially spread the conflict in the Middle East region, has deteriorated the risk appetite in global financial markets, adding pressure on equities and growth-sensitive assets and currencies, and sending investors to the safety of bullion, the gold, and silver.

The safe-haven demand for gold has pushed its price to retest the key levels of $2,000/oz, (currently at $1,992/oz) adding $170/oz, or almost 10% gains since the start of the Israel-Hamas conflict on October 07, while silver added $3/oz or nearly 15% in the same period.

Gold price, Daily chart

The resuming recession fears around the world and the lower-than-expected Q3 U.S. earnings are darkening the global economic growth outlook for 2023-2024, keeping haven demand for gold upbeat in October.

Investors believe that the higher interest rates and the expensive raw materials in the major global economies of the USA and Europe could lead to weaker business activity in the following months, leading to weaker profitability and employment.

This statement is supported by the official data released on Tuesday showed that the Eurozone’s Manufacturing and Services activity had further declined in October, which raised concerns over a potential recession in the region.

Germany, Europe’s largest economy and heavy industrial leader in the region had entered a recession earlier this year. At the same time, its Manufacturing and Services PMI remained in contraction at the start of the fourth quarter.

Gold’s rally accelerated on Wednesday following a steep sell-off in the mega-cap technology stocks after some disappointing Q3 earnings, with tech giant Alphabet slumping nearly 10% after its cloud division missed revenue estimates, while Amazon and Nvidia followed with 4% losses each.

The surging U.S. bond yields and inflation, the stronger greenback, the higher energy and production expenses, and the elevated borrowing costs have brought major headwinds for corporations across the board, especially in the growth-sensitive technology sector.

Gold shines again as its price is reapproaching the key $2,000/oz psychological level on surging demand for haven assets due to elevated geopolitical risk, disappointing Q3 earnings, and the recession fears in the Eurozone.

Growing worries that the “well-expected” ground invasion of Israel to Gaza could potentially spread the conflict in the Middle East region, has deteriorated the risk appetite in global financial markets, adding pressure on equities and growth-sensitive assets and currencies, and sending investors to the safety of bullion, the gold, and silver.

The safe-haven demand for gold has pushed its price to retest the key levels of $2,000/oz, (currently at $1,992/oz) adding $170/oz, or almost 10% gains since the start of the Israel-Hamas conflict on October 07, while silver added $3/oz or nearly 15% in the same period.

Gold price, Daily chart

The resuming recession fears around the world and the lower-than-expected Q3 U.S. earnings are darkening the global economic growth outlook for 2023-2024, keeping haven demand for gold upbeat in October.

Investors believe that the higher interest rates and the expensive raw materials in the major global economies of the USA and Europe could lead to weaker business activity in the following months, leading to weaker profitability and employment.

This statement is supported by the official data released on Tuesday showed that the Eurozone’s Manufacturing and Services activity had further declined in October, which raised concerns over a potential recession in the region.

Germany, Europe’s largest economy and heavy industrial leader in the region had entered a recession earlier this year. At the same time, its Manufacturing and Services PMI remained in contraction at the start of the fourth quarter.

Gold’s rally accelerated on Wednesday following a steep sell-off in the mega-cap technology stocks after some disappointing Q3 earnings, with tech giant Alphabet slumping nearly 10% after its cloud division missed revenue estimates, while Amazon and Nvidia followed with 4% losses each.

The surging U.S. bond yields and inflation, the stronger greenback, the higher energy and production expenses, and the elevated borrowing costs have brought major headwinds for corporations across the board, especially in the growth-sensitive technology sector.

Bitcoin has gained 15% in two days to $35,000 on Bitcoin ETF optimism

Posted on by Vrasidas Neofytou

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving a potential shortage of Bitcoin’s supply.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving a potential shortage of Bitcoin’s supply.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

The Bitcoin ETF was also listed on the Depository Trust & Clearing Corporation, which clears trades executed on the NASDAQ exchange, which shows another step in the process of launching the ETF.

While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving a potential shortage of Bitcoin’s supply.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

The Bitcoin ETF was also listed on the Depository Trust & Clearing Corporation, which clears trades executed on the NASDAQ exchange, which shows another step in the process of launching the ETF.

While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving a potential shortage of Bitcoin’s supply.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

An updated BlackRock filing indicates the firm may move to seed its iShares Bitcoin Trust with cash this month and launch the fund soon. Seeding a Bitcoin ETF is when initial funding is provided to create the first units of Bitcoin in exchange for ETF shares which can be traded in the open market later.

The Bitcoin ETF was also listed on the Depository Trust & Clearing Corporation, which clears trades executed on the NASDAQ exchange, which shows another step in the process of launching the ETF.

While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving a potential shortage of Bitcoin’s supply.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

An updated BlackRock filing indicates the firm may move to seed its iShares Bitcoin Trust with cash this month and launch the fund soon. Seeding a Bitcoin ETF is when initial funding is provided to create the first units of Bitcoin in exchange for ETF shares which can be traded in the open market later.

The Bitcoin ETF was also listed on the Depository Trust & Clearing Corporation, which clears trades executed on the NASDAQ exchange, which shows another step in the process of launching the ETF.

While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving a potential shortage of Bitcoin’s supply.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

What has triggered the current rally in the crypto ecosystem is that the highly anticipated spot Bitcoin exchange-traded fund from the world’s largest asset manager, BlackRock, may be seeded this month.

An updated BlackRock filing indicates the firm may move to seed its iShares Bitcoin Trust with cash this month and launch the fund soon. Seeding a Bitcoin ETF is when initial funding is provided to create the first units of Bitcoin in exchange for ETF shares which can be traded in the open market later.

The Bitcoin ETF was also listed on the Depository Trust & Clearing Corporation, which clears trades executed on the NASDAQ exchange, which shows another step in the process of launching the ETF.

While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving a potential shortage of Bitcoin’s supply.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

What has triggered the current rally in the crypto ecosystem is that the highly anticipated spot Bitcoin exchange-traded fund from the world’s largest asset manager, BlackRock, may be seeded this month.

An updated BlackRock filing indicates the firm may move to seed its iShares Bitcoin Trust with cash this month and launch the fund soon. Seeding a Bitcoin ETF is when initial funding is provided to create the first units of Bitcoin in exchange for ETF shares which can be traded in the open market later.

The Bitcoin ETF was also listed on the Depository Trust & Clearing Corporation, which clears trades executed on the NASDAQ exchange, which shows another step in the process of launching the ETF.

While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving a potential shortage of Bitcoin’s supply.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

Bullish Bitcoin ETF Progress:

What has triggered the current rally in the crypto ecosystem is that the highly anticipated spot Bitcoin exchange-traded fund from the world’s largest asset manager, BlackRock, may be seeded this month.

An updated BlackRock filing indicates the firm may move to seed its iShares Bitcoin Trust with cash this month and launch the fund soon. Seeding a Bitcoin ETF is when initial funding is provided to create the first units of Bitcoin in exchange for ETF shares which can be traded in the open market later.

The Bitcoin ETF was also listed on the Depository Trust & Clearing Corporation, which clears trades executed on the NASDAQ exchange, which shows another step in the process of launching the ETF.

While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving a potential shortage of Bitcoin’s supply.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

Bullish Bitcoin ETF Progress:

What has triggered the current rally in the crypto ecosystem is that the highly anticipated spot Bitcoin exchange-traded fund from the world’s largest asset manager, BlackRock, may be seeded this month.

An updated BlackRock filing indicates the firm may move to seed its iShares Bitcoin Trust with cash this month and launch the fund soon. Seeding a Bitcoin ETF is when initial funding is provided to create the first units of Bitcoin in exchange for ETF shares which can be traded in the open market later.

The Bitcoin ETF was also listed on the Depository Trust & Clearing Corporation, which clears trades executed on the NASDAQ exchange, which shows another step in the process of launching the ETF.

While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving a potential shortage of Bitcoin’s supply.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

The market cap of Bitcoin has grown to $670 million, Ethereum to $220 million, XRP to $29 million, Solana to $13 million, and Cardano to $10 million. The combined crypto market cap is now on the cusp of retesting April’s year-to-date high of $1.28T after sitting at $1.03T last month. https://coinmarketcap.com/

Bullish Bitcoin ETF Progress:

What has triggered the current rally in the crypto ecosystem is that the highly anticipated spot Bitcoin exchange-traded fund from the world’s largest asset manager, BlackRock, may be seeded this month.

An updated BlackRock filing indicates the firm may move to seed its iShares Bitcoin Trust with cash this month and launch the fund soon. Seeding a Bitcoin ETF is when initial funding is provided to create the first units of Bitcoin in exchange for ETF shares which can be traded in the open market later.

The Bitcoin ETF was also listed on the Depository Trust & Clearing Corporation, which clears trades executed on the NASDAQ exchange, which shows another step in the process of launching the ETF.

While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving a potential shortage of Bitcoin’s supply.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

The market cap of Bitcoin has grown to $670 million, Ethereum to $220 million, XRP to $29 million, Solana to $13 million, and Cardano to $10 million. The combined crypto market cap is now on the cusp of retesting April’s year-to-date high of $1.28T after sitting at $1.03T last month. https://coinmarketcap.com/

Bullish Bitcoin ETF Progress:

What has triggered the current rally in the crypto ecosystem is that the highly anticipated spot Bitcoin exchange-traded fund from the world’s largest asset manager, BlackRock, may be seeded this month.

An updated BlackRock filing indicates the firm may move to seed its iShares Bitcoin Trust with cash this month and launch the fund soon. Seeding a Bitcoin ETF is when initial funding is provided to create the first units of Bitcoin in exchange for ETF shares which can be traded in the open market later.

The Bitcoin ETF was also listed on the Depository Trust & Clearing Corporation, which clears trades executed on the NASDAQ exchange, which shows another step in the process of launching the ETF.

While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving a potential shortage of Bitcoin’s supply.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

Other top 10 cryptocurrencies have also rallied by between 10%-20% over the same period, with Solana leading the gains by 30%, climbing up to $32, XRP by 12% to $0.55, and Cardano gaining 15% to $0.30.

The market cap of Bitcoin has grown to $670 million, Ethereum to $220 million, XRP to $29 million, Solana to $13 million, and Cardano to $10 million. The combined crypto market cap is now on the cusp of retesting April’s year-to-date high of $1.28T after sitting at $1.03T last month. https://coinmarketcap.com/

Bullish Bitcoin ETF Progress:

What has triggered the current rally in the crypto ecosystem is that the highly anticipated spot Bitcoin exchange-traded fund from the world’s largest asset manager, BlackRock, may be seeded this month.

An updated BlackRock filing indicates the firm may move to seed its iShares Bitcoin Trust with cash this month and launch the fund soon. Seeding a Bitcoin ETF is when initial funding is provided to create the first units of Bitcoin in exchange for ETF shares which can be traded in the open market later.

The Bitcoin ETF was also listed on the Depository Trust & Clearing Corporation, which clears trades executed on the NASDAQ exchange, which shows another step in the process of launching the ETF.

While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving a potential shortage of Bitcoin’s supply.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

Other top 10 cryptocurrencies have also rallied by between 10%-20% over the same period, with Solana leading the gains by 30%, climbing up to $32, XRP by 12% to $0.55, and Cardano gaining 15% to $0.30.

The market cap of Bitcoin has grown to $670 million, Ethereum to $220 million, XRP to $29 million, Solana to $13 million, and Cardano to $10 million. The combined crypto market cap is now on the cusp of retesting April’s year-to-date high of $1.28T after sitting at $1.03T last month. https://coinmarketcap.com/

Bullish Bitcoin ETF Progress:

What has triggered the current rally in the crypto ecosystem is that the highly anticipated spot Bitcoin exchange-traded fund from the world’s largest asset manager, BlackRock, may be seeded this month.

An updated BlackRock filing indicates the firm may move to seed its iShares Bitcoin Trust with cash this month and launch the fund soon. Seeding a Bitcoin ETF is when initial funding is provided to create the first units of Bitcoin in exchange for ETF shares which can be traded in the open market later.

The Bitcoin ETF was also listed on the Depository Trust & Clearing Corporation, which clears trades executed on the NASDAQ exchange, which shows another step in the process of launching the ETF.

While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving a potential shortage of Bitcoin’s supply.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

Both Bitcoin and Ethereum have also posted a nearly 110% and 55% price increase respectively since the start of 2023, where they were trading at nearly $16.500 and $1,200.

Other top 10 cryptocurrencies have also rallied by between 10%-20% over the same period, with Solana leading the gains by 30%, climbing up to $32, XRP by 12% to $0.55, and Cardano gaining 15% to $0.30.

The market cap of Bitcoin has grown to $670 million, Ethereum to $220 million, XRP to $29 million, Solana to $13 million, and Cardano to $10 million. The combined crypto market cap is now on the cusp of retesting April’s year-to-date high of $1.28T after sitting at $1.03T last month. https://coinmarketcap.com/

Bullish Bitcoin ETF Progress:

What has triggered the current rally in the crypto ecosystem is that the highly anticipated spot Bitcoin exchange-traded fund from the world’s largest asset manager, BlackRock, may be seeded this month.

An updated BlackRock filing indicates the firm may move to seed its iShares Bitcoin Trust with cash this month and launch the fund soon. Seeding a Bitcoin ETF is when initial funding is provided to create the first units of Bitcoin in exchange for ETF shares which can be traded in the open market later.

The Bitcoin ETF was also listed on the Depository Trust & Clearing Corporation, which clears trades executed on the NASDAQ exchange, which shows another step in the process of launching the ETF.

While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving a potential shortage of Bitcoin’s supply.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

Both Bitcoin and Ethereum have also posted a nearly 110% and 55% price increase respectively since the start of 2023, where they were trading at nearly $16.500 and $1,200.

Other top 10 cryptocurrencies have also rallied by between 10%-20% over the same period, with Solana leading the gains by 30%, climbing up to $32, XRP by 12% to $0.55, and Cardano gaining 15% to $0.30.

The market cap of Bitcoin has grown to $670 million, Ethereum to $220 million, XRP to $29 million, Solana to $13 million, and Cardano to $10 million. The combined crypto market cap is now on the cusp of retesting April’s year-to-date high of $1.28T after sitting at $1.03T last month. https://coinmarketcap.com/

Bullish Bitcoin ETF Progress:

What has triggered the current rally in the crypto ecosystem is that the highly anticipated spot Bitcoin exchange-traded fund from the world’s largest asset manager, BlackRock, may be seeded this month.

An updated BlackRock filing indicates the firm may move to seed its iShares Bitcoin Trust with cash this month and launch the fund soon. Seeding a Bitcoin ETF is when initial funding is provided to create the first units of Bitcoin in exchange for ETF shares which can be traded in the open market later.

The Bitcoin ETF was also listed on the Depository Trust & Clearing Corporation, which clears trades executed on the NASDAQ exchange, which shows another step in the process of launching the ETF.

While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving a potential shortage of Bitcoin’s supply.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

Ethereum, the second-biggest digital coin, surged to its highest since August 2023, hovering at around $1,850, also adding $300 or almost 20% gains since mid-October.

Both Bitcoin and Ethereum have also posted a nearly 110% and 55% price increase respectively since the start of 2023, where they were trading at nearly $16.500 and $1,200.

Other top 10 cryptocurrencies have also rallied by between 10%-20% over the same period, with Solana leading the gains by 30%, climbing up to $32, XRP by 12% to $0.55, and Cardano gaining 15% to $0.30.

The market cap of Bitcoin has grown to $670 million, Ethereum to $220 million, XRP to $29 million, Solana to $13 million, and Cardano to $10 million. The combined crypto market cap is now on the cusp of retesting April’s year-to-date high of $1.28T after sitting at $1.03T last month. https://coinmarketcap.com/

Bullish Bitcoin ETF Progress:

What has triggered the current rally in the crypto ecosystem is that the highly anticipated spot Bitcoin exchange-traded fund from the world’s largest asset manager, BlackRock, may be seeded this month.

An updated BlackRock filing indicates the firm may move to seed its iShares Bitcoin Trust with cash this month and launch the fund soon. Seeding a Bitcoin ETF is when initial funding is provided to create the first units of Bitcoin in exchange for ETF shares which can be traded in the open market later.

The Bitcoin ETF was also listed on the Depository Trust & Clearing Corporation, which clears trades executed on the NASDAQ exchange, which shows another step in the process of launching the ETF.

While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving a potential shortage of Bitcoin’s supply.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

Ethereum, the second-biggest digital coin, surged to its highest since August 2023, hovering at around $1,850, also adding $300 or almost 20% gains since mid-October.

Both Bitcoin and Ethereum have also posted a nearly 110% and 55% price increase respectively since the start of 2023, where they were trading at nearly $16.500 and $1,200.

Other top 10 cryptocurrencies have also rallied by between 10%-20% over the same period, with Solana leading the gains by 30%, climbing up to $32, XRP by 12% to $0.55, and Cardano gaining 15% to $0.30.

The market cap of Bitcoin has grown to $670 million, Ethereum to $220 million, XRP to $29 million, Solana to $13 million, and Cardano to $10 million. The combined crypto market cap is now on the cusp of retesting April’s year-to-date high of $1.28T after sitting at $1.03T last month. https://coinmarketcap.com/

Bullish Bitcoin ETF Progress:

What has triggered the current rally in the crypto ecosystem is that the highly anticipated spot Bitcoin exchange-traded fund from the world’s largest asset manager, BlackRock, may be seeded this month.

An updated BlackRock filing indicates the firm may move to seed its iShares Bitcoin Trust with cash this month and launch the fund soon. Seeding a Bitcoin ETF is when initial funding is provided to create the first units of Bitcoin in exchange for ETF shares which can be traded in the open market later.

The Bitcoin ETF was also listed on the Depository Trust & Clearing Corporation, which clears trades executed on the NASDAQ exchange, which shows another step in the process of launching the ETF.

While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving a potential shortage of Bitcoin’s supply.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

BTC/USD, Daily chart

Ethereum, the second-biggest digital coin, surged to its highest since August 2023, hovering at around $1,850, also adding $300 or almost 20% gains since mid-October.

Both Bitcoin and Ethereum have also posted a nearly 110% and 55% price increase respectively since the start of 2023, where they were trading at nearly $16.500 and $1,200.

Other top 10 cryptocurrencies have also rallied by between 10%-20% over the same period, with Solana leading the gains by 30%, climbing up to $32, XRP by 12% to $0.55, and Cardano gaining 15% to $0.30.

The market cap of Bitcoin has grown to $670 million, Ethereum to $220 million, XRP to $29 million, Solana to $13 million, and Cardano to $10 million. The combined crypto market cap is now on the cusp of retesting April’s year-to-date high of $1.28T after sitting at $1.03T last month. https://coinmarketcap.com/

Bullish Bitcoin ETF Progress:

What has triggered the current rally in the crypto ecosystem is that the highly anticipated spot Bitcoin exchange-traded fund from the world’s largest asset manager, BlackRock, may be seeded this month.

An updated BlackRock filing indicates the firm may move to seed its iShares Bitcoin Trust with cash this month and launch the fund soon. Seeding a Bitcoin ETF is when initial funding is provided to create the first units of Bitcoin in exchange for ETF shares which can be traded in the open market later.

The Bitcoin ETF was also listed on the Depository Trust & Clearing Corporation, which clears trades executed on the NASDAQ exchange, which shows another step in the process of launching the ETF.

While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving a potential shortage of Bitcoin’s supply.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

BTC/USD, Daily chart

Ethereum, the second-biggest digital coin, surged to its highest since August 2023, hovering at around $1,850, also adding $300 or almost 20% gains since mid-October.

Both Bitcoin and Ethereum have also posted a nearly 110% and 55% price increase respectively since the start of 2023, where they were trading at nearly $16.500 and $1,200.

Other top 10 cryptocurrencies have also rallied by between 10%-20% over the same period, with Solana leading the gains by 30%, climbing up to $32, XRP by 12% to $0.55, and Cardano gaining 15% to $0.30.

The market cap of Bitcoin has grown to $670 million, Ethereum to $220 million, XRP to $29 million, Solana to $13 million, and Cardano to $10 million. The combined crypto market cap is now on the cusp of retesting April’s year-to-date high of $1.28T after sitting at $1.03T last month. https://coinmarketcap.com/

Bullish Bitcoin ETF Progress:

What has triggered the current rally in the crypto ecosystem is that the highly anticipated spot Bitcoin exchange-traded fund from the world’s largest asset manager, BlackRock, may be seeded this month.

An updated BlackRock filing indicates the firm may move to seed its iShares Bitcoin Trust with cash this month and launch the fund soon. Seeding a Bitcoin ETF is when initial funding is provided to create the first units of Bitcoin in exchange for ETF shares which can be traded in the open market later.

The Bitcoin ETF was also listed on the Depository Trust & Clearing Corporation, which clears trades executed on the NASDAQ exchange, which shows another step in the process of launching the ETF.

While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving a potential shortage of Bitcoin’s supply.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

BTC/USD, Daily chart

Ethereum, the second-biggest digital coin, surged to its highest since August 2023, hovering at around $1,850, also adding $300 or almost 20% gains since mid-October.

Both Bitcoin and Ethereum have also posted a nearly 110% and 55% price increase respectively since the start of 2023, where they were trading at nearly $16.500 and $1,200.

Other top 10 cryptocurrencies have also rallied by between 10%-20% over the same period, with Solana leading the gains by 30%, climbing up to $32, XRP by 12% to $0.55, and Cardano gaining 15% to $0.30.

The market cap of Bitcoin has grown to $670 million, Ethereum to $220 million, XRP to $29 million, Solana to $13 million, and Cardano to $10 million. The combined crypto market cap is now on the cusp of retesting April’s year-to-date high of $1.28T after sitting at $1.03T last month. https://coinmarketcap.com/

Bullish Bitcoin ETF Progress:

What has triggered the current rally in the crypto ecosystem is that the highly anticipated spot Bitcoin exchange-traded fund from the world’s largest asset manager, BlackRock, may be seeded this month.

An updated BlackRock filing indicates the firm may move to seed its iShares Bitcoin Trust with cash this month and launch the fund soon. Seeding a Bitcoin ETF is when initial funding is provided to create the first units of Bitcoin in exchange for ETF shares which can be traded in the open market later.

The Bitcoin ETF was also listed on the Depository Trust & Clearing Corporation, which clears trades executed on the NASDAQ exchange, which shows another step in the process of launching the ETF.

While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving a potential shortage of Bitcoin’s supply.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

Investment sentiment has improved in the crypto ecosystem since mid-October, with the world’s largest cryptocurrency Bitcoin rallying from the monthly lows of $26,000 up to May’s 2022 highs of $35,000 this morning, adding $9,000 or nearly 35% gains.

BTC/USD, Daily chart

Ethereum, the second-biggest digital coin, surged to its highest since August 2023, hovering at around $1,850, also adding $300 or almost 20% gains since mid-October.

Both Bitcoin and Ethereum have also posted a nearly 110% and 55% price increase respectively since the start of 2023, where they were trading at nearly $16.500 and $1,200.

Other top 10 cryptocurrencies have also rallied by between 10%-20% over the same period, with Solana leading the gains by 30%, climbing up to $32, XRP by 12% to $0.55, and Cardano gaining 15% to $0.30.

The market cap of Bitcoin has grown to $670 million, Ethereum to $220 million, XRP to $29 million, Solana to $13 million, and Cardano to $10 million. The combined crypto market cap is now on the cusp of retesting April’s year-to-date high of $1.28T after sitting at $1.03T last month. https://coinmarketcap.com/

Bullish Bitcoin ETF Progress:

What has triggered the current rally in the crypto ecosystem is that the highly anticipated spot Bitcoin exchange-traded fund from the world’s largest asset manager, BlackRock, may be seeded this month.

An updated BlackRock filing indicates the firm may move to seed its iShares Bitcoin Trust with cash this month and launch the fund soon. Seeding a Bitcoin ETF is when initial funding is provided to create the first units of Bitcoin in exchange for ETF shares which can be traded in the open market later.

The Bitcoin ETF was also listed on the Depository Trust & Clearing Corporation, which clears trades executed on the NASDAQ exchange, which shows another step in the process of launching the ETF.

While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving a potential shortage of Bitcoin’s supply.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

Investment sentiment has improved in the crypto ecosystem since mid-October, with the world’s largest cryptocurrency Bitcoin rallying from the monthly lows of $26,000 up to May’s 2022 highs of $35,000 this morning, adding $9,000 or nearly 35% gains.

BTC/USD, Daily chart

Ethereum, the second-biggest digital coin, surged to its highest since August 2023, hovering at around $1,850, also adding $300 or almost 20% gains since mid-October.

Both Bitcoin and Ethereum have also posted a nearly 110% and 55% price increase respectively since the start of 2023, where they were trading at nearly $16.500 and $1,200.

Other top 10 cryptocurrencies have also rallied by between 10%-20% over the same period, with Solana leading the gains by 30%, climbing up to $32, XRP by 12% to $0.55, and Cardano gaining 15% to $0.30.

The market cap of Bitcoin has grown to $670 million, Ethereum to $220 million, XRP to $29 million, Solana to $13 million, and Cardano to $10 million. The combined crypto market cap is now on the cusp of retesting April’s year-to-date high of $1.28T after sitting at $1.03T last month. https://coinmarketcap.com/

Bullish Bitcoin ETF Progress:

What has triggered the current rally in the crypto ecosystem is that the highly anticipated spot Bitcoin exchange-traded fund from the world’s largest asset manager, BlackRock, may be seeded this month.

An updated BlackRock filing indicates the firm may move to seed its iShares Bitcoin Trust with cash this month and launch the fund soon. Seeding a Bitcoin ETF is when initial funding is provided to create the first units of Bitcoin in exchange for ETF shares which can be traded in the open market later.

The Bitcoin ETF was also listed on the Depository Trust & Clearing Corporation, which clears trades executed on the NASDAQ exchange, which shows another step in the process of launching the ETF.

While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving a potential shortage of Bitcoin’s supply.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

Bitcoin climbed as high as $35,000 on Tuesday morning, rallying 15% in 24 hours, while Ethereum jumped up to $1,850, driven by the growing optimism around the possibility of the approval of the first Bitcoin ETF (exchange-traded fund) from the world’s largest asset manager, BlackRock.

Investment sentiment has improved in the crypto ecosystem since mid-October, with the world’s largest cryptocurrency Bitcoin rallying from the monthly lows of $26,000 up to May’s 2022 highs of $35,000 this morning, adding $9,000 or nearly 35% gains.

BTC/USD, Daily chart

Ethereum, the second-biggest digital coin, surged to its highest since August 2023, hovering at around $1,850, also adding $300 or almost 20% gains since mid-October.

Both Bitcoin and Ethereum have also posted a nearly 110% and 55% price increase respectively since the start of 2023, where they were trading at nearly $16.500 and $1,200.

Other top 10 cryptocurrencies have also rallied by between 10%-20% over the same period, with Solana leading the gains by 30%, climbing up to $32, XRP by 12% to $0.55, and Cardano gaining 15% to $0.30.

The market cap of Bitcoin has grown to $670 million, Ethereum to $220 million, XRP to $29 million, Solana to $13 million, and Cardano to $10 million. The combined crypto market cap is now on the cusp of retesting April’s year-to-date high of $1.28T after sitting at $1.03T last month. https://coinmarketcap.com/

Bullish Bitcoin ETF Progress:

What has triggered the current rally in the crypto ecosystem is that the highly anticipated spot Bitcoin exchange-traded fund from the world’s largest asset manager, BlackRock, may be seeded this month.

An updated BlackRock filing indicates the firm may move to seed its iShares Bitcoin Trust with cash this month and launch the fund soon. Seeding a Bitcoin ETF is when initial funding is provided to create the first units of Bitcoin in exchange for ETF shares which can be traded in the open market later.

The Bitcoin ETF was also listed on the Depository Trust & Clearing Corporation, which clears trades executed on the NASDAQ exchange, which shows another step in the process of launching the ETF.

While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs in the past, such products invest in derivatives and thus do not impact the supply of BTC. By contrast, a spot ETF would invest in Bitcoin directly, driving a potential shortage of Bitcoin’s supply.

BlackRock filed its application for a spot Bitcoin ETF in June, prompting a rush of similar filings from rival asset issuers such as Ark Invest and 21Shares, with the SEC deadline for approval being set at January 10, 2024.

The potential approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) is anticipated to revolutionize the crypto market, by connecting the traditional finance system with the digital world and enable real-time price analysis.

Furthermore, investors have also moved some funds into the safety of the cryptocurrencies in the latest trading sessions to hedge their portfolio’s geopolitical and economic risk.

Brent oil slipped to $91.50/b on diplomatic efforts to contain the Mideast crisis

Posted on by Vrasidas Neofytou

Despite the recent losses in crude oil prices, traders remain concerned about potential supply disruption if the Israel-Hamas war grows into a wider confrontation in the Middle East, the world’s biggest oil-supplying region.

In this context, Brent crude oil slipped to $91.50/b, or 1.2% down on Monday morning, losing over 3% since topping last week at around $94/b, while the WTI also dropped by over 1% towards $87/b.

Despite the recent losses in crude oil prices, traders remain concerned about potential supply disruption if the Israel-Hamas war grows into a wider confrontation in the Middle East, the world’s biggest oil-supplying region.

In this context, Brent crude oil slipped to $91.50/b, or 1.2% down on Monday morning, losing over 3% since topping last week at around $94/b, while the WTI also dropped by over 1% towards $87/b.

Despite the recent losses in crude oil prices, traders remain concerned about potential supply disruption if the Israel-Hamas war grows into a wider confrontation in the Middle East, the world’s biggest oil-supplying region.

Aid convoys started to arrive in the Gaza Strip from Egypt over the weekend, despite the ongoing Israel airstrikes on Gaza and Hezbollah-controlled territories in Lebanon.

In this context, Brent crude oil slipped to $91.50/b, or 1.2% down on Monday morning, losing over 3% since topping last week at around $94/b, while the WTI also dropped by over 1% towards $87/b.

Despite the recent losses in crude oil prices, traders remain concerned about potential supply disruption if the Israel-Hamas war grows into a wider confrontation in the Middle East, the world’s biggest oil-supplying region.

Aid convoys started to arrive in the Gaza Strip from Egypt over the weekend, despite the ongoing Israel airstrikes on Gaza and Hezbollah-controlled territories in Lebanon.

In this context, Brent crude oil slipped to $91.50/b, or 1.2% down on Monday morning, losing over 3% since topping last week at around $94/b, while the WTI also dropped by over 1% towards $87/b.

Despite the recent losses in crude oil prices, traders remain concerned about potential supply disruption if the Israel-Hamas war grows into a wider confrontation in the Middle East, the world’s biggest oil-supplying region.

The ongoing diplomatic effort to contain the conflict, the release of the first two hostages, and the aid that started to trickle through Egypt’s border with Gaza at the weekend, are leading to hopes the Israeli-Palestinian crisis could de-escalate without engulfing the rest of the Middle East region and disrupting oil supplies.

Aid convoys started to arrive in the Gaza Strip from Egypt over the weekend, despite the ongoing Israel airstrikes on Gaza and Hezbollah-controlled territories in Lebanon.

In this context, Brent crude oil slipped to $91.50/b, or 1.2% down on Monday morning, losing over 3% since topping last week at around $94/b, while the WTI also dropped by over 1% towards $87/b.

Despite the recent losses in crude oil prices, traders remain concerned about potential supply disruption if the Israel-Hamas war grows into a wider confrontation in the Middle East, the world’s biggest oil-supplying region.

The ongoing diplomatic effort to contain the conflict, the release of the first two hostages, and the aid that started to trickle through Egypt’s border with Gaza at the weekend, are leading to hopes the Israeli-Palestinian crisis could de-escalate without engulfing the rest of the Middle East region and disrupting oil supplies.

Aid convoys started to arrive in the Gaza Strip from Egypt over the weekend, despite the ongoing Israel airstrikes on Gaza and Hezbollah-controlled territories in Lebanon.

In this context, Brent crude oil slipped to $91.50/b, or 1.2% down on Monday morning, losing over 3% since topping last week at around $94/b, while the WTI also dropped by over 1% towards $87/b.

Despite the recent losses in crude oil prices, traders remain concerned about potential supply disruption if the Israel-Hamas war grows into a wider confrontation in the Middle East, the world’s biggest oil-supplying region.

Following the news that the Palestine-linked Hamas released the first two hostages during the weekend, traders have started to wind back some of last week’s haven bids on crude oil and gold.

The ongoing diplomatic effort to contain the conflict, the release of the first two hostages, and the aid that started to trickle through Egypt’s border with Gaza at the weekend, are leading to hopes the Israeli-Palestinian crisis could de-escalate without engulfing the rest of the Middle East region and disrupting oil supplies.

Aid convoys started to arrive in the Gaza Strip from Egypt over the weekend, despite the ongoing Israel airstrikes on Gaza and Hezbollah-controlled territories in Lebanon.

In this context, Brent crude oil slipped to $91.50/b, or 1.2% down on Monday morning, losing over 3% since topping last week at around $94/b, while the WTI also dropped by over 1% towards $87/b.

Despite the recent losses in crude oil prices, traders remain concerned about potential supply disruption if the Israel-Hamas war grows into a wider confrontation in the Middle East, the world’s biggest oil-supplying region.

Following the news that the Palestine-linked Hamas released the first two hostages during the weekend, traders have started to wind back some of last week’s haven bids on crude oil and gold.

The ongoing diplomatic effort to contain the conflict, the release of the first two hostages, and the aid that started to trickle through Egypt’s border with Gaza at the weekend, are leading to hopes the Israeli-Palestinian crisis could de-escalate without engulfing the rest of the Middle East region and disrupting oil supplies.

Aid convoys started to arrive in the Gaza Strip from Egypt over the weekend, despite the ongoing Israel airstrikes on Gaza and Hezbollah-controlled territories in Lebanon.

In this context, Brent crude oil slipped to $91.50/b, or 1.2% down on Monday morning, losing over 3% since topping last week at around $94/b, while the WTI also dropped by over 1% towards $87/b.

Despite the recent losses in crude oil prices, traders remain concerned about potential supply disruption if the Israel-Hamas war grows into a wider confrontation in the Middle East, the world’s biggest oil-supplying region.

Brent crude oil, 2-hour chart

Following the news that the Palestine-linked Hamas released the first two hostages during the weekend, traders have started to wind back some of last week’s haven bids on crude oil and gold.

The ongoing diplomatic effort to contain the conflict, the release of the first two hostages, and the aid that started to trickle through Egypt’s border with Gaza at the weekend, are leading to hopes the Israeli-Palestinian crisis could de-escalate without engulfing the rest of the Middle East region and disrupting oil supplies.

Aid convoys started to arrive in the Gaza Strip from Egypt over the weekend, despite the ongoing Israel airstrikes on Gaza and Hezbollah-controlled territories in Lebanon.

In this context, Brent crude oil slipped to $91.50/b, or 1.2% down on Monday morning, losing over 3% since topping last week at around $94/b, while the WTI also dropped by over 1% towards $87/b.

Despite the recent losses in crude oil prices, traders remain concerned about potential supply disruption if the Israel-Hamas war grows into a wider confrontation in the Middle East, the world’s biggest oil-supplying region.

Brent crude oil, 2-hour chart

Following the news that the Palestine-linked Hamas released the first two hostages during the weekend, traders have started to wind back some of last week’s haven bids on crude oil and gold.

The ongoing diplomatic effort to contain the conflict, the release of the first two hostages, and the aid that started to trickle through Egypt’s border with Gaza at the weekend, are leading to hopes the Israeli-Palestinian crisis could de-escalate without engulfing the rest of the Middle East region and disrupting oil supplies.

Aid convoys started to arrive in the Gaza Strip from Egypt over the weekend, despite the ongoing Israel airstrikes on Gaza and Hezbollah-controlled territories in Lebanon.

In this context, Brent crude oil slipped to $91.50/b, or 1.2% down on Monday morning, losing over 3% since topping last week at around $94/b, while the WTI also dropped by over 1% towards $87/b.

Despite the recent losses in crude oil prices, traders remain concerned about potential supply disruption if the Israel-Hamas war grows into a wider confrontation in the Middle East, the world’s biggest oil-supplying region.

Brent crude oil, 2-hour chart

Following the news that the Palestine-linked Hamas released the first two hostages during the weekend, traders have started to wind back some of last week’s haven bids on crude oil and gold.

The ongoing diplomatic effort to contain the conflict, the release of the first two hostages, and the aid that started to trickle through Egypt’s border with Gaza at the weekend, are leading to hopes the Israeli-Palestinian crisis could de-escalate without engulfing the rest of the Middle East region and disrupting oil supplies.

Aid convoys started to arrive in the Gaza Strip from Egypt over the weekend, despite the ongoing Israel airstrikes on Gaza and Hezbollah-controlled territories in Lebanon.

In this context, Brent crude oil slipped to $91.50/b, or 1.2% down on Monday morning, losing over 3% since topping last week at around $94/b, while the WTI also dropped by over 1% towards $87/b.

Despite the recent losses in crude oil prices, traders remain concerned about potential supply disruption if the Israel-Hamas war grows into a wider confrontation in the Middle East, the world’s biggest oil-supplying region.

Energy traders turned bearish on the crude oil by taking some profits out of the market after two weeks of gains. Brent has advanced about 8% to as high as $94/b since Hamas’s Oct. 7 attack on Israel on concerns the conflict could drag in Lebanon via Hezbollah, and the oil-rich Iran, with the potential disruption of oil supplies via Strait of Hormuz in the Persian Gulf.

Brent crude oil, 2-hour chart

Following the news that the Palestine-linked Hamas released the first two hostages during the weekend, traders have started to wind back some of last week’s haven bids on crude oil and gold.

The ongoing diplomatic effort to contain the conflict, the release of the first two hostages, and the aid that started to trickle through Egypt’s border with Gaza at the weekend, are leading to hopes the Israeli-Palestinian crisis could de-escalate without engulfing the rest of the Middle East region and disrupting oil supplies.

Aid convoys started to arrive in the Gaza Strip from Egypt over the weekend, despite the ongoing Israel airstrikes on Gaza and Hezbollah-controlled territories in Lebanon.

In this context, Brent crude oil slipped to $91.50/b, or 1.2% down on Monday morning, losing over 3% since topping last week at around $94/b, while the WTI also dropped by over 1% towards $87/b.

Despite the recent losses in crude oil prices, traders remain concerned about potential supply disruption if the Israel-Hamas war grows into a wider confrontation in the Middle East, the world’s biggest oil-supplying region.

Energy traders turned bearish on the crude oil by taking some profits out of the market after two weeks of gains. Brent has advanced about 8% to as high as $94/b since Hamas’s Oct. 7 attack on Israel on concerns the conflict could drag in Lebanon via Hezbollah, and the oil-rich Iran, with the potential disruption of oil supplies via Strait of Hormuz in the Persian Gulf.

Brent crude oil, 2-hour chart

Following the news that the Palestine-linked Hamas released the first two hostages during the weekend, traders have started to wind back some of last week’s haven bids on crude oil and gold.

The ongoing diplomatic effort to contain the conflict, the release of the first two hostages, and the aid that started to trickle through Egypt’s border with Gaza at the weekend, are leading to hopes the Israeli-Palestinian crisis could de-escalate without engulfing the rest of the Middle East region and disrupting oil supplies.

Aid convoys started to arrive in the Gaza Strip from Egypt over the weekend, despite the ongoing Israel airstrikes on Gaza and Hezbollah-controlled territories in Lebanon.

In this context, Brent crude oil slipped to $91.50/b, or 1.2% down on Monday morning, losing over 3% since topping last week at around $94/b, while the WTI also dropped by over 1% towards $87/b.

Despite the recent losses in crude oil prices, traders remain concerned about potential supply disruption if the Israel-Hamas war grows into a wider confrontation in the Middle East, the world’s biggest oil-supplying region.

Crude oil prices kicked off the first trading session of the week on left footing as concerns softened over the weekend that the conflict in the Middle East would escalate, as Israel held off on its ground invasion of Gaza amid diplomatic efforts to secure the release of more hostages.

Energy traders turned bearish on the crude oil by taking some profits out of the market after two weeks of gains. Brent has advanced about 8% to as high as $94/b since Hamas’s Oct. 7 attack on Israel on concerns the conflict could drag in Lebanon via Hezbollah, and the oil-rich Iran, with the potential disruption of oil supplies via Strait of Hormuz in the Persian Gulf.

Brent crude oil, 2-hour chart

Following the news that the Palestine-linked Hamas released the first two hostages during the weekend, traders have started to wind back some of last week’s haven bids on crude oil and gold.

The ongoing diplomatic effort to contain the conflict, the release of the first two hostages, and the aid that started to trickle through Egypt’s border with Gaza at the weekend, are leading to hopes the Israeli-Palestinian crisis could de-escalate without engulfing the rest of the Middle East region and disrupting oil supplies.

Aid convoys started to arrive in the Gaza Strip from Egypt over the weekend, despite the ongoing Israel airstrikes on Gaza and Hezbollah-controlled territories in Lebanon.

In this context, Brent crude oil slipped to $91.50/b, or 1.2% down on Monday morning, losing over 3% since topping last week at around $94/b, while the WTI also dropped by over 1% towards $87/b.

Despite the recent losses in crude oil prices, traders remain concerned about potential supply disruption if the Israel-Hamas war grows into a wider confrontation in the Middle East, the world’s biggest oil-supplying region.

Brent holds above $90/b as traders assess Middle East turmoil

Posted on by Vrasidas Neofytou

The resume of oil rallies has added pressure on growth-sensitive stock markets worldwide, as the higher oil prices support resilient inflation, which in turn, would force central banks to hike further or at least maintain rates higher for longer into 2024, deteriorating the world’s economic growth outlook.

The resume of oil rallies has added pressure on growth-sensitive stock markets worldwide, as the higher oil prices support resilient inflation, which in turn, would force central banks to hike further or at least maintain rates higher for longer into 2024, deteriorating the world’s economic growth outlook.

Even though the conflict in the Middle East has had little impact on global oil and gas supplies, traders worried about whether other countries such as Iran would get involved and support Palestinians, and the conflict escalates into a broader Middle East war, disrupting oil and gas supplies.

The resume of oil rallies has added pressure on growth-sensitive stock markets worldwide, as the higher oil prices support resilient inflation, which in turn, would force central banks to hike further or at least maintain rates higher for longer into 2024, deteriorating the world’s economic growth outlook.

Even though the conflict in the Middle East has had little impact on global oil and gas supplies, traders worried about whether other countries such as Iran would get involved and support Palestinians, and the conflict escalates into a broader Middle East war, disrupting oil and gas supplies.

The resume of oil rallies has added pressure on growth-sensitive stock markets worldwide, as the higher oil prices support resilient inflation, which in turn, would force central banks to hike further or at least maintain rates higher for longer into 2024, deteriorating the world’s economic growth outlook.

The price of Brent still holds most of last week’s gains, currently trading at just below $91/b mark, as market observers are assessing how the conflict could escalate and what it might mean for supplies from nearby countries in the world’s top oil-producing region-Persian Gulf.

Even though the conflict in the Middle East has had little impact on global oil and gas supplies, traders worried about whether other countries such as Iran would get involved and support Palestinians, and the conflict escalates into a broader Middle East war, disrupting oil and gas supplies.

The resume of oil rallies has added pressure on growth-sensitive stock markets worldwide, as the higher oil prices support resilient inflation, which in turn, would force central banks to hike further or at least maintain rates higher for longer into 2024, deteriorating the world’s economic growth outlook.

The price of Brent still holds most of last week’s gains, currently trading at just below $91/b mark, as market observers are assessing how the conflict could escalate and what it might mean for supplies from nearby countries in the world’s top oil-producing region-Persian Gulf.

Even though the conflict in the Middle East has had little impact on global oil and gas supplies, traders worried about whether other countries such as Iran would get involved and support Palestinians, and the conflict escalates into a broader Middle East war, disrupting oil and gas supplies.

The resume of oil rallies has added pressure on growth-sensitive stock markets worldwide, as the higher oil prices support resilient inflation, which in turn, would force central banks to hike further or at least maintain rates higher for longer into 2024, deteriorating the world’s economic growth outlook.

Israel boasts two oil refineries with a combined capacity of almost 300,000 barrels per day, while it produces and exports good quantities of natural gas from its offshore gas fields Tamar and Leviathan.

The price of Brent still holds most of last week’s gains, currently trading at just below $91/b mark, as market observers are assessing how the conflict could escalate and what it might mean for supplies from nearby countries in the world’s top oil-producing region-Persian Gulf.

Even though the conflict in the Middle East has had little impact on global oil and gas supplies, traders worried about whether other countries such as Iran would get involved and support Palestinians, and the conflict escalates into a broader Middle East war, disrupting oil and gas supplies.

The resume of oil rallies has added pressure on growth-sensitive stock markets worldwide, as the higher oil prices support resilient inflation, which in turn, would force central banks to hike further or at least maintain rates higher for longer into 2024, deteriorating the world’s economic growth outlook.

Israel boasts two oil refineries with a combined capacity of almost 300,000 barrels per day, while it produces and exports good quantities of natural gas from its offshore gas fields Tamar and Leviathan.

The price of Brent still holds most of last week’s gains, currently trading at just below $91/b mark, as market observers are assessing how the conflict could escalate and what it might mean for supplies from nearby countries in the world’s top oil-producing region-Persian Gulf.

Even though the conflict in the Middle East has had little impact on global oil and gas supplies, traders worried about whether other countries such as Iran would get involved and support Palestinians, and the conflict escalates into a broader Middle East war, disrupting oil and gas supplies.

The resume of oil rallies has added pressure on growth-sensitive stock markets worldwide, as the higher oil prices support resilient inflation, which in turn, would force central banks to hike further or at least maintain rates higher for longer into 2024, deteriorating the world’s economic growth outlook.

Since the eruption of the conflict in Israel on October 07, Brent recorded a gain of 7.5% until today, its biggest weekly increase since February, while WTI climbed 5.9% for the same period, even though neither side (Israel & Palestine) is a big oil producer.

Israel boasts two oil refineries with a combined capacity of almost 300,000 barrels per day, while it produces and exports good quantities of natural gas from its offshore gas fields Tamar and Leviathan.

The price of Brent still holds most of last week’s gains, currently trading at just below $91/b mark, as market observers are assessing how the conflict could escalate and what it might mean for supplies from nearby countries in the world’s top oil-producing region-Persian Gulf.

Even though the conflict in the Middle East has had little impact on global oil and gas supplies, traders worried about whether other countries such as Iran would get involved and support Palestinians, and the conflict escalates into a broader Middle East war, disrupting oil and gas supplies.

The resume of oil rallies has added pressure on growth-sensitive stock markets worldwide, as the higher oil prices support resilient inflation, which in turn, would force central banks to hike further or at least maintain rates higher for longer into 2024, deteriorating the world’s economic growth outlook.

Since the eruption of the conflict in Israel on October 07, Brent recorded a gain of 7.5% until today, its biggest weekly increase since February, while WTI climbed 5.9% for the same period, even though neither side (Israel & Palestine) is a big oil producer.

Israel boasts two oil refineries with a combined capacity of almost 300,000 barrels per day, while it produces and exports good quantities of natural gas from its offshore gas fields Tamar and Leviathan.

The price of Brent still holds most of last week’s gains, currently trading at just below $91/b mark, as market observers are assessing how the conflict could escalate and what it might mean for supplies from nearby countries in the world’s top oil-producing region-Persian Gulf.

Even though the conflict in the Middle East has had little impact on global oil and gas supplies, traders worried about whether other countries such as Iran would get involved and support Palestinians, and the conflict escalates into a broader Middle East war, disrupting oil and gas supplies.

The resume of oil rallies has added pressure on growth-sensitive stock markets worldwide, as the higher oil prices support resilient inflation, which in turn, would force central banks to hike further or at least maintain rates higher for longer into 2024, deteriorating the world’s economic growth outlook.

Brent crude oil, Daily chart

Since the eruption of the conflict in Israel on October 07, Brent recorded a gain of 7.5% until today, its biggest weekly increase since February, while WTI climbed 5.9% for the same period, even though neither side (Israel & Palestine) is a big oil producer.

Israel boasts two oil refineries with a combined capacity of almost 300,000 barrels per day, while it produces and exports good quantities of natural gas from its offshore gas fields Tamar and Leviathan.

The price of Brent still holds most of last week’s gains, currently trading at just below $91/b mark, as market observers are assessing how the conflict could escalate and what it might mean for supplies from nearby countries in the world’s top oil-producing region-Persian Gulf.

Even though the conflict in the Middle East has had little impact on global oil and gas supplies, traders worried about whether other countries such as Iran would get involved and support Palestinians, and the conflict escalates into a broader Middle East war, disrupting oil and gas supplies.

The resume of oil rallies has added pressure on growth-sensitive stock markets worldwide, as the higher oil prices support resilient inflation, which in turn, would force central banks to hike further or at least maintain rates higher for longer into 2024, deteriorating the world’s economic growth outlook.

Brent crude oil, Daily chart

Since the eruption of the conflict in Israel on October 07, Brent recorded a gain of 7.5% until today, its biggest weekly increase since February, while WTI climbed 5.9% for the same period, even though neither side (Israel & Palestine) is a big oil producer.

Israel boasts two oil refineries with a combined capacity of almost 300,000 barrels per day, while it produces and exports good quantities of natural gas from its offshore gas fields Tamar and Leviathan.

The price of Brent still holds most of last week’s gains, currently trading at just below $91/b mark, as market observers are assessing how the conflict could escalate and what it might mean for supplies from nearby countries in the world’s top oil-producing region-Persian Gulf.

Even though the conflict in the Middle East has had little impact on global oil and gas supplies, traders worried about whether other countries such as Iran would get involved and support Palestinians, and the conflict escalates into a broader Middle East war, disrupting oil and gas supplies.

The resume of oil rallies has added pressure on growth-sensitive stock markets worldwide, as the higher oil prices support resilient inflation, which in turn, would force central banks to hike further or at least maintain rates higher for longer into 2024, deteriorating the world’s economic growth outlook.

Brent crude oil, Daily chart

Since the eruption of the conflict in Israel on October 07, Brent recorded a gain of 7.5% until today, its biggest weekly increase since February, while WTI climbed 5.9% for the same period, even though neither side (Israel & Palestine) is a big oil producer.

Israel boasts two oil refineries with a combined capacity of almost 300,000 barrels per day, while it produces and exports good quantities of natural gas from its offshore gas fields Tamar and Leviathan.

The price of Brent still holds most of last week’s gains, currently trading at just below $91/b mark, as market observers are assessing how the conflict could escalate and what it might mean for supplies from nearby countries in the world’s top oil-producing region-Persian Gulf.

Even though the conflict in the Middle East has had little impact on global oil and gas supplies, traders worried about whether other countries such as Iran would get involved and support Palestinians, and the conflict escalates into a broader Middle East war, disrupting oil and gas supplies.

The resume of oil rallies has added pressure on growth-sensitive stock markets worldwide, as the higher oil prices support resilient inflation, which in turn, would force central banks to hike further or at least maintain rates higher for longer into 2024, deteriorating the world’s economic growth outlook.

The international benchmark Brent crude oil and WTI-West Texas Intermediate posted their best trading day since early April on last Friday, gaining almost 6% to $91/b and $88/b respectively, as traders priced in the possibility of a wider Middle East conflict.

Brent crude oil, Daily chart

Since the eruption of the conflict in Israel on October 07, Brent recorded a gain of 7.5% until today, its biggest weekly increase since February, while WTI climbed 5.9% for the same period, even though neither side (Israel & Palestine) is a big oil producer.

Israel boasts two oil refineries with a combined capacity of almost 300,000 barrels per day, while it produces and exports good quantities of natural gas from its offshore gas fields Tamar and Leviathan.

The price of Brent still holds most of last week’s gains, currently trading at just below $91/b mark, as market observers are assessing how the conflict could escalate and what it might mean for supplies from nearby countries in the world’s top oil-producing region-Persian Gulf.

Even though the conflict in the Middle East has had little impact on global oil and gas supplies, traders worried about whether other countries such as Iran would get involved and support Palestinians, and the conflict escalates into a broader Middle East war, disrupting oil and gas supplies.

The resume of oil rallies has added pressure on growth-sensitive stock markets worldwide, as the higher oil prices support resilient inflation, which in turn, would force central banks to hike further or at least maintain rates higher for longer into 2024, deteriorating the world’s economic growth outlook.

The international benchmark Brent crude oil and WTI-West Texas Intermediate posted their best trading day since early April on last Friday, gaining almost 6% to $91/b and $88/b respectively, as traders priced in the possibility of a wider Middle East conflict.

Brent crude oil, Daily chart

Since the eruption of the conflict in Israel on October 07, Brent recorded a gain of 7.5% until today, its biggest weekly increase since February, while WTI climbed 5.9% for the same period, even though neither side (Israel & Palestine) is a big oil producer.

Israel boasts two oil refineries with a combined capacity of almost 300,000 barrels per day, while it produces and exports good quantities of natural gas from its offshore gas fields Tamar and Leviathan.

The price of Brent still holds most of last week’s gains, currently trading at just below $91/b mark, as market observers are assessing how the conflict could escalate and what it might mean for supplies from nearby countries in the world’s top oil-producing region-Persian Gulf.

Even though the conflict in the Middle East has had little impact on global oil and gas supplies, traders worried about whether other countries such as Iran would get involved and support Palestinians, and the conflict escalates into a broader Middle East war, disrupting oil and gas supplies.

The resume of oil rallies has added pressure on growth-sensitive stock markets worldwide, as the higher oil prices support resilient inflation, which in turn, would force central banks to hike further or at least maintain rates higher for longer into 2024, deteriorating the world’s economic growth outlook.

Israel is expected to commence a massive ground military offensive into the Palestinian territory Gaza, to root out the Islamic group Hamas, after amassing troops at the border last week, which could fuel some fears related to oil production in the region.

The international benchmark Brent crude oil and WTI-West Texas Intermediate posted their best trading day since early April on last Friday, gaining almost 6% to $91/b and $88/b respectively, as traders priced in the possibility of a wider Middle East conflict.

Brent crude oil, Daily chart

Since the eruption of the conflict in Israel on October 07, Brent recorded a gain of 7.5% until today, its biggest weekly increase since February, while WTI climbed 5.9% for the same period, even though neither side (Israel & Palestine) is a big oil producer.

Israel boasts two oil refineries with a combined capacity of almost 300,000 barrels per day, while it produces and exports good quantities of natural gas from its offshore gas fields Tamar and Leviathan.

The price of Brent still holds most of last week’s gains, currently trading at just below $91/b mark, as market observers are assessing how the conflict could escalate and what it might mean for supplies from nearby countries in the world’s top oil-producing region-Persian Gulf.

Even though the conflict in the Middle East has had little impact on global oil and gas supplies, traders worried about whether other countries such as Iran would get involved and support Palestinians, and the conflict escalates into a broader Middle East war, disrupting oil and gas supplies.

The resume of oil rallies has added pressure on growth-sensitive stock markets worldwide, as the higher oil prices support resilient inflation, which in turn, would force central banks to hike further or at least maintain rates higher for longer into 2024, deteriorating the world’s economic growth outlook.

Israel is expected to commence a massive ground military offensive into the Palestinian territory Gaza, to root out the Islamic group Hamas, after amassing troops at the border last week, which could fuel some fears related to oil production in the region.

The international benchmark Brent crude oil and WTI-West Texas Intermediate posted their best trading day since early April on last Friday, gaining almost 6% to $91/b and $88/b respectively, as traders priced in the possibility of a wider Middle East conflict.

Brent crude oil, Daily chart

Since the eruption of the conflict in Israel on October 07, Brent recorded a gain of 7.5% until today, its biggest weekly increase since February, while WTI climbed 5.9% for the same period, even though neither side (Israel & Palestine) is a big oil producer.

Israel boasts two oil refineries with a combined capacity of almost 300,000 barrels per day, while it produces and exports good quantities of natural gas from its offshore gas fields Tamar and Leviathan.

The price of Brent still holds most of last week’s gains, currently trading at just below $91/b mark, as market observers are assessing how the conflict could escalate and what it might mean for supplies from nearby countries in the world’s top oil-producing region-Persian Gulf.

Even though the conflict in the Middle East has had little impact on global oil and gas supplies, traders worried about whether other countries such as Iran would get involved and support Palestinians, and the conflict escalates into a broader Middle East war, disrupting oil and gas supplies.

The resume of oil rallies has added pressure on growth-sensitive stock markets worldwide, as the higher oil prices support resilient inflation, which in turn, would force central banks to hike further or at least maintain rates higher for longer into 2024, deteriorating the world’s economic growth outlook.

Hama’s surprising attack on Israel has increased the geopolitical risk to global energy markets. It poses one of the most significant economic and political risks since Russia’s invasion of Ukraine in early 2022.

Israel is expected to commence a massive ground military offensive into the Palestinian territory Gaza, to root out the Islamic group Hamas, after amassing troops at the border last week, which could fuel some fears related to oil production in the region.

The international benchmark Brent crude oil and WTI-West Texas Intermediate posted their best trading day since early April on last Friday, gaining almost 6% to $91/b and $88/b respectively, as traders priced in the possibility of a wider Middle East conflict.

Brent crude oil, Daily chart

Since the eruption of the conflict in Israel on October 07, Brent recorded a gain of 7.5% until today, its biggest weekly increase since February, while WTI climbed 5.9% for the same period, even though neither side (Israel & Palestine) is a big oil producer.

Israel boasts two oil refineries with a combined capacity of almost 300,000 barrels per day, while it produces and exports good quantities of natural gas from its offshore gas fields Tamar and Leviathan.

The price of Brent still holds most of last week’s gains, currently trading at just below $91/b mark, as market observers are assessing how the conflict could escalate and what it might mean for supplies from nearby countries in the world’s top oil-producing region-Persian Gulf.

Even though the conflict in the Middle East has had little impact on global oil and gas supplies, traders worried about whether other countries such as Iran would get involved and support Palestinians, and the conflict escalates into a broader Middle East war, disrupting oil and gas supplies.

The resume of oil rallies has added pressure on growth-sensitive stock markets worldwide, as the higher oil prices support resilient inflation, which in turn, would force central banks to hike further or at least maintain rates higher for longer into 2024, deteriorating the world’s economic growth outlook.

Hama’s surprising attack on Israel has increased the geopolitical risk to global energy markets. It poses one of the most significant economic and political risks since Russia’s invasion of Ukraine in early 2022.

Israel is expected to commence a massive ground military offensive into the Palestinian territory Gaza, to root out the Islamic group Hamas, after amassing troops at the border last week, which could fuel some fears related to oil production in the region.

The international benchmark Brent crude oil and WTI-West Texas Intermediate posted their best trading day since early April on last Friday, gaining almost 6% to $91/b and $88/b respectively, as traders priced in the possibility of a wider Middle East conflict.

Brent crude oil, Daily chart

Since the eruption of the conflict in Israel on October 07, Brent recorded a gain of 7.5% until today, its biggest weekly increase since February, while WTI climbed 5.9% for the same period, even though neither side (Israel & Palestine) is a big oil producer.

Israel boasts two oil refineries with a combined capacity of almost 300,000 barrels per day, while it produces and exports good quantities of natural gas from its offshore gas fields Tamar and Leviathan.

The price of Brent still holds most of last week’s gains, currently trading at just below $91/b mark, as market observers are assessing how the conflict could escalate and what it might mean for supplies from nearby countries in the world’s top oil-producing region-Persian Gulf.

Even though the conflict in the Middle East has had little impact on global oil and gas supplies, traders worried about whether other countries such as Iran would get involved and support Palestinians, and the conflict escalates into a broader Middle East war, disrupting oil and gas supplies.

The resume of oil rallies has added pressure on growth-sensitive stock markets worldwide, as the higher oil prices support resilient inflation, which in turn, would force central banks to hike further or at least maintain rates higher for longer into 2024, deteriorating the world’s economic growth outlook.

Crude oil prices turned slightly lower but held Friday’s 6% gains on the first trading day of the week, as energy traders assess whether the turmoil in the oil-rich Middle East could have an impact on global oil and gas supplies.

Hama’s surprising attack on Israel has increased the geopolitical risk to global energy markets. It poses one of the most significant economic and political risks since Russia’s invasion of Ukraine in early 2022.

Israel is expected to commence a massive ground military offensive into the Palestinian territory Gaza, to root out the Islamic group Hamas, after amassing troops at the border last week, which could fuel some fears related to oil production in the region.

The international benchmark Brent crude oil and WTI-West Texas Intermediate posted their best trading day since early April on last Friday, gaining almost 6% to $91/b and $88/b respectively, as traders priced in the possibility of a wider Middle East conflict.

Brent crude oil, Daily chart

Since the eruption of the conflict in Israel on October 07, Brent recorded a gain of 7.5% until today, its biggest weekly increase since February, while WTI climbed 5.9% for the same period, even though neither side (Israel & Palestine) is a big oil producer.

Israel boasts two oil refineries with a combined capacity of almost 300,000 barrels per day, while it produces and exports good quantities of natural gas from its offshore gas fields Tamar and Leviathan.

The price of Brent still holds most of last week’s gains, currently trading at just below $91/b mark, as market observers are assessing how the conflict could escalate and what it might mean for supplies from nearby countries in the world’s top oil-producing region-Persian Gulf.

Even though the conflict in the Middle East has had little impact on global oil and gas supplies, traders worried about whether other countries such as Iran would get involved and support Palestinians, and the conflict escalates into a broader Middle East war, disrupting oil and gas supplies.

The resume of oil rallies has added pressure on growth-sensitive stock markets worldwide, as the higher oil prices support resilient inflation, which in turn, would force central banks to hike further or at least maintain rates higher for longer into 2024, deteriorating the world’s economic growth outlook.

Gold and silver bounced to monthly highs on a weaker dollar and a dovish Fed

Posted on by Vrasidas Neofytou

Market participants expect the headline CPI-consumer price index to have risen 0.3% in September on a monthly basis, slowing from 0.6% in August, and 3.6% y-y vs 3.7% in August, while core CPI is seen steady at 0.3%. https://finance.yahoo.com/news/global-markets-asian-shares-rally-054844467.html

Stakes are higher because the U.S. PPI-producer price inflation report came in hotter than expected on Wednesday, while WTI crude oil price hit a yearly high of $97/b last month, adding further energy and food inflationary pressure to the economy.

Market participants expect the headline CPI-consumer price index to have risen 0.3% in September on a monthly basis, slowing from 0.6% in August, and 3.6% y-y vs 3.7% in August, while core CPI is seen steady at 0.3%. https://finance.yahoo.com/news/global-markets-asian-shares-rally-054844467.html

Stakes are higher because the U.S. PPI-producer price inflation report came in hotter than expected on Wednesday, while WTI crude oil price hit a yearly high of $97/b last month, adding further energy and food inflationary pressure to the economy.

Market participants expect the headline CPI-consumer price index to have risen 0.3% in September on a monthly basis, slowing from 0.6% in August, and 3.6% y-y vs 3.7% in August, while core CPI is seen steady at 0.3%. https://finance.yahoo.com/news/global-markets-asian-shares-rally-054844467.html

All eyes would be on the well-expected U.S. CPI inflation data for September due later that could throw some light on the Federal Reserve’s cautious tilt on interest rates.

Stakes are higher because the U.S. PPI-producer price inflation report came in hotter than expected on Wednesday, while WTI crude oil price hit a yearly high of $97/b last month, adding further energy and food inflationary pressure to the economy.

Market participants expect the headline CPI-consumer price index to have risen 0.3% in September on a monthly basis, slowing from 0.6% in August, and 3.6% y-y vs 3.7% in August, while core CPI is seen steady at 0.3%. https://finance.yahoo.com/news/global-markets-asian-shares-rally-054844467.html

Despite the recent bounce off six-month lows of $1,810/oz, Gold is still down nearly 10% from near record highs of $2,067/oz hit early May 2023, due to a stronger dollar and surging Treasury yields.

All eyes would be on the well-expected U.S. CPI inflation data for September due later that could throw some light on the Federal Reserve’s cautious tilt on interest rates.

Stakes are higher because the U.S. PPI-producer price inflation report came in hotter than expected on Wednesday, while WTI crude oil price hit a yearly high of $97/b last month, adding further energy and food inflationary pressure to the economy.

Market participants expect the headline CPI-consumer price index to have risen 0.3% in September on a monthly basis, slowing from 0.6% in August, and 3.6% y-y vs 3.7% in August, while core CPI is seen steady at 0.3%. https://finance.yahoo.com/news/global-markets-asian-shares-rally-054844467.html

Despite the recent bounce off six-month lows of $1,810/oz, Gold is still down nearly 10% from near record highs of $2,067/oz hit early May 2023, due to a stronger dollar and surging Treasury yields.

All eyes would be on the well-expected U.S. CPI inflation data for September due later that could throw some light on the Federal Reserve’s cautious tilt on interest rates.

Stakes are higher because the U.S. PPI-producer price inflation report came in hotter than expected on Wednesday, while WTI crude oil price hit a yearly high of $97/b last month, adding further energy and food inflationary pressure to the economy.

Market participants expect the headline CPI-consumer price index to have risen 0.3% in September on a monthly basis, slowing from 0.6% in August, and 3.6% y-y vs 3.7% in August, while core CPI is seen steady at 0.3%. https://finance.yahoo.com/news/global-markets-asian-shares-rally-054844467.html

Like the dollar, both 2-year and 10-year Treasury yields have retreated from their 16-year highs following some dovish comments from Fed officials, boosting bullion (gold and silver) prices as lower interest rates decline the opportunity cost of holding non-yielding bullion.

Despite the recent bounce off six-month lows of $1,810/oz, Gold is still down nearly 10% from near record highs of $2,067/oz hit early May 2023, due to a stronger dollar and surging Treasury yields.

All eyes would be on the well-expected U.S. CPI inflation data for September due later that could throw some light on the Federal Reserve’s cautious tilt on interest rates.

Stakes are higher because the U.S. PPI-producer price inflation report came in hotter than expected on Wednesday, while WTI crude oil price hit a yearly high of $97/b last month, adding further energy and food inflationary pressure to the economy.

Market participants expect the headline CPI-consumer price index to have risen 0.3% in September on a monthly basis, slowing from 0.6% in August, and 3.6% y-y vs 3.7% in August, while core CPI is seen steady at 0.3%. https://finance.yahoo.com/news/global-markets-asian-shares-rally-054844467.html

Like the dollar, both 2-year and 10-year Treasury yields have retreated from their 16-year highs following some dovish comments from Fed officials, boosting bullion (gold and silver) prices as lower interest rates decline the opportunity cost of holding non-yielding bullion.

Despite the recent bounce off six-month lows of $1,810/oz, Gold is still down nearly 10% from near record highs of $2,067/oz hit early May 2023, due to a stronger dollar and surging Treasury yields.

All eyes would be on the well-expected U.S. CPI inflation data for September due later that could throw some light on the Federal Reserve’s cautious tilt on interest rates.

Stakes are higher because the U.S. PPI-producer price inflation report came in hotter than expected on Wednesday, while WTI crude oil price hit a yearly high of $97/b last month, adding further energy and food inflationary pressure to the economy.

Market participants expect the headline CPI-consumer price index to have risen 0.3% in September on a monthly basis, slowing from 0.6% in August, and 3.6% y-y vs 3.7% in August, while core CPI is seen steady at 0.3%. https://finance.yahoo.com/news/global-markets-asian-shares-rally-054844467.html

The DXY-U.S. dollar index, which tracks the value of the dollar against six major peers (Euro is the 60% of the index) dropped to nearly 105.50, down almost 2% after topping 107 in early October, making dollar-denominated gold and silver more attractive (less expensive) for buyers with foreign currency.

Like the dollar, both 2-year and 10-year Treasury yields have retreated from their 16-year highs following some dovish comments from Fed officials, boosting bullion (gold and silver) prices as lower interest rates decline the opportunity cost of holding non-yielding bullion.

Despite the recent bounce off six-month lows of $1,810/oz, Gold is still down nearly 10% from near record highs of $2,067/oz hit early May 2023, due to a stronger dollar and surging Treasury yields.

All eyes would be on the well-expected U.S. CPI inflation data for September due later that could throw some light on the Federal Reserve’s cautious tilt on interest rates.

Stakes are higher because the U.S. PPI-producer price inflation report came in hotter than expected on Wednesday, while WTI crude oil price hit a yearly high of $97/b last month, adding further energy and food inflationary pressure to the economy.

Market participants expect the headline CPI-consumer price index to have risen 0.3% in September on a monthly basis, slowing from 0.6% in August, and 3.6% y-y vs 3.7% in August, while core CPI is seen steady at 0.3%. https://finance.yahoo.com/news/global-markets-asian-shares-rally-054844467.html

The DXY-U.S. dollar index, which tracks the value of the dollar against six major peers (Euro is the 60% of the index) dropped to nearly 105.50, down almost 2% after topping 107 in early October, making dollar-denominated gold and silver more attractive (less expensive) for buyers with foreign currency.

Like the dollar, both 2-year and 10-year Treasury yields have retreated from their 16-year highs following some dovish comments from Fed officials, boosting bullion (gold and silver) prices as lower interest rates decline the opportunity cost of holding non-yielding bullion.

Despite the recent bounce off six-month lows of $1,810/oz, Gold is still down nearly 10% from near record highs of $2,067/oz hit early May 2023, due to a stronger dollar and surging Treasury yields.

All eyes would be on the well-expected U.S. CPI inflation data for September due later that could throw some light on the Federal Reserve’s cautious tilt on interest rates.

Stakes are higher because the U.S. PPI-producer price inflation report came in hotter than expected on Wednesday, while WTI crude oil price hit a yearly high of $97/b last month, adding further energy and food inflationary pressure to the economy.

Market participants expect the headline CPI-consumer price index to have risen 0.3% in September on a monthly basis, slowing from 0.6% in August, and 3.6% y-y vs 3.7% in August, while core CPI is seen steady at 0.3%. https://finance.yahoo.com/news/global-markets-asian-shares-rally-054844467.html

Comments from more Fed officials suggesting U.S. rates may have peaked have added pressure on both U.S. dollar and U.S. Treasury yields, which fell to near two-week lows on Thursday morning, lifting dollar & yield-sensitive precious metals on levels that haven’t been seen since the end of September.

The DXY-U.S. dollar index, which tracks the value of the dollar against six major peers (Euro is the 60% of the index) dropped to nearly 105.50, down almost 2% after topping 107 in early October, making dollar-denominated gold and silver more attractive (less expensive) for buyers with foreign currency.

Like the dollar, both 2-year and 10-year Treasury yields have retreated from their 16-year highs following some dovish comments from Fed officials, boosting bullion (gold and silver) prices as lower interest rates decline the opportunity cost of holding non-yielding bullion.

Despite the recent bounce off six-month lows of $1,810/oz, Gold is still down nearly 10% from near record highs of $2,067/oz hit early May 2023, due to a stronger dollar and surging Treasury yields.

All eyes would be on the well-expected U.S. CPI inflation data for September due later that could throw some light on the Federal Reserve’s cautious tilt on interest rates.

Stakes are higher because the U.S. PPI-producer price inflation report came in hotter than expected on Wednesday, while WTI crude oil price hit a yearly high of $97/b last month, adding further energy and food inflationary pressure to the economy.

Market participants expect the headline CPI-consumer price index to have risen 0.3% in September on a monthly basis, slowing from 0.6% in August, and 3.6% y-y vs 3.7% in August, while core CPI is seen steady at 0.3%. https://finance.yahoo.com/news/global-markets-asian-shares-rally-054844467.html

Comments from more Fed officials suggesting U.S. rates may have peaked have added pressure on both U.S. dollar and U.S. Treasury yields, which fell to near two-week lows on Thursday morning, lifting dollar & yield-sensitive precious metals on levels that haven’t been seen since the end of September.

The DXY-U.S. dollar index, which tracks the value of the dollar against six major peers (Euro is the 60% of the index) dropped to nearly 105.50, down almost 2% after topping 107 in early October, making dollar-denominated gold and silver more attractive (less expensive) for buyers with foreign currency.

Like the dollar, both 2-year and 10-year Treasury yields have retreated from their 16-year highs following some dovish comments from Fed officials, boosting bullion (gold and silver) prices as lower interest rates decline the opportunity cost of holding non-yielding bullion.

Despite the recent bounce off six-month lows of $1,810/oz, Gold is still down nearly 10% from near record highs of $2,067/oz hit early May 2023, due to a stronger dollar and surging Treasury yields.

All eyes would be on the well-expected U.S. CPI inflation data for September due later that could throw some light on the Federal Reserve’s cautious tilt on interest rates.

Stakes are higher because the U.S. PPI-producer price inflation report came in hotter than expected on Wednesday, while WTI crude oil price hit a yearly high of $97/b last month, adding further energy and food inflationary pressure to the economy.

Market participants expect the headline CPI-consumer price index to have risen 0.3% in September on a monthly basis, slowing from 0.6% in August, and 3.6% y-y vs 3.7% in August, while core CPI is seen steady at 0.3%. https://finance.yahoo.com/news/global-markets-asian-shares-rally-054844467.html

Gold, Daily chart

Comments from more Fed officials suggesting U.S. rates may have peaked have added pressure on both U.S. dollar and U.S. Treasury yields, which fell to near two-week lows on Thursday morning, lifting dollar & yield-sensitive precious metals on levels that haven’t been seen since the end of September.

The DXY-U.S. dollar index, which tracks the value of the dollar against six major peers (Euro is the 60% of the index) dropped to nearly 105.50, down almost 2% after topping 107 in early October, making dollar-denominated gold and silver more attractive (less expensive) for buyers with foreign currency.

Like the dollar, both 2-year and 10-year Treasury yields have retreated from their 16-year highs following some dovish comments from Fed officials, boosting bullion (gold and silver) prices as lower interest rates decline the opportunity cost of holding non-yielding bullion.

Despite the recent bounce off six-month lows of $1,810/oz, Gold is still down nearly 10% from near record highs of $2,067/oz hit early May 2023, due to a stronger dollar and surging Treasury yields.

All eyes would be on the well-expected U.S. CPI inflation data for September due later that could throw some light on the Federal Reserve’s cautious tilt on interest rates.

Stakes are higher because the U.S. PPI-producer price inflation report came in hotter than expected on Wednesday, while WTI crude oil price hit a yearly high of $97/b last month, adding further energy and food inflationary pressure to the economy.

Market participants expect the headline CPI-consumer price index to have risen 0.3% in September on a monthly basis, slowing from 0.6% in August, and 3.6% y-y vs 3.7% in August, while core CPI is seen steady at 0.3%. https://finance.yahoo.com/news/global-markets-asian-shares-rally-054844467.html

Gold, Daily chart

Comments from more Fed officials suggesting U.S. rates may have peaked have added pressure on both U.S. dollar and U.S. Treasury yields, which fell to near two-week lows on Thursday morning, lifting dollar & yield-sensitive precious metals on levels that haven’t been seen since the end of September.

The DXY-U.S. dollar index, which tracks the value of the dollar against six major peers (Euro is the 60% of the index) dropped to nearly 105.50, down almost 2% after topping 107 in early October, making dollar-denominated gold and silver more attractive (less expensive) for buyers with foreign currency.

Like the dollar, both 2-year and 10-year Treasury yields have retreated from their 16-year highs following some dovish comments from Fed officials, boosting bullion (gold and silver) prices as lower interest rates decline the opportunity cost of holding non-yielding bullion.

Despite the recent bounce off six-month lows of $1,810/oz, Gold is still down nearly 10% from near record highs of $2,067/oz hit early May 2023, due to a stronger dollar and surging Treasury yields.

All eyes would be on the well-expected U.S. CPI inflation data for September due later that could throw some light on the Federal Reserve’s cautious tilt on interest rates.

Stakes are higher because the U.S. PPI-producer price inflation report came in hotter than expected on Wednesday, while WTI crude oil price hit a yearly high of $97/b last month, adding further energy and food inflationary pressure to the economy.

Market participants expect the headline CPI-consumer price index to have risen 0.3% in September on a monthly basis, slowing from 0.6% in August, and 3.6% y-y vs 3.7% in August, while core CPI is seen steady at 0.3%. https://finance.yahoo.com/news/global-markets-asian-shares-rally-054844467.html

Gold, Daily chart

Comments from more Fed officials suggesting U.S. rates may have peaked have added pressure on both U.S. dollar and U.S. Treasury yields, which fell to near two-week lows on Thursday morning, lifting dollar & yield-sensitive precious metals on levels that haven’t been seen since the end of September.

The DXY-U.S. dollar index, which tracks the value of the dollar against six major peers (Euro is the 60% of the index) dropped to nearly 105.50, down almost 2% after topping 107 in early October, making dollar-denominated gold and silver more attractive (less expensive) for buyers with foreign currency.

Like the dollar, both 2-year and 10-year Treasury yields have retreated from their 16-year highs following some dovish comments from Fed officials, boosting bullion (gold and silver) prices as lower interest rates decline the opportunity cost of holding non-yielding bullion.

Despite the recent bounce off six-month lows of $1,810/oz, Gold is still down nearly 10% from near record highs of $2,067/oz hit early May 2023, due to a stronger dollar and surging Treasury yields.

All eyes would be on the well-expected U.S. CPI inflation data for September due later that could throw some light on the Federal Reserve’s cautious tilt on interest rates.

Stakes are higher because the U.S. PPI-producer price inflation report came in hotter than expected on Wednesday, while WTI crude oil price hit a yearly high of $97/b last month, adding further energy and food inflationary pressure to the economy.

Market participants expect the headline CPI-consumer price index to have risen 0.3% in September on a monthly basis, slowing from 0.6% in August, and 3.6% y-y vs 3.7% in August, while core CPI is seen steady at 0.3%. https://finance.yahoo.com/news/global-markets-asian-shares-rally-054844467.html

Gold prices hit a fresh monthly high of $1,880/oz this morning, while Silver also rebounded to over $22/oz level, after getting support from the recent U.S. dollar weakness and the retreat of the Treasury yields from their 16-year highs after more dovish remarks from Federal Reserve officials.

Gold, Daily chart

Comments from more Fed officials suggesting U.S. rates may have peaked have added pressure on both U.S. dollar and U.S. Treasury yields, which fell to near two-week lows on Thursday morning, lifting dollar & yield-sensitive precious metals on levels that haven’t been seen since the end of September.

The DXY-U.S. dollar index, which tracks the value of the dollar against six major peers (Euro is the 60% of the index) dropped to nearly 105.50, down almost 2% after topping 107 in early October, making dollar-denominated gold and silver more attractive (less expensive) for buyers with foreign currency.

Like the dollar, both 2-year and 10-year Treasury yields have retreated from their 16-year highs following some dovish comments from Fed officials, boosting bullion (gold and silver) prices as lower interest rates decline the opportunity cost of holding non-yielding bullion.

Despite the recent bounce off six-month lows of $1,810/oz, Gold is still down nearly 10% from near record highs of $2,067/oz hit early May 2023, due to a stronger dollar and surging Treasury yields.

All eyes would be on the well-expected U.S. CPI inflation data for September due later that could throw some light on the Federal Reserve’s cautious tilt on interest rates.

Stakes are higher because the U.S. PPI-producer price inflation report came in hotter than expected on Wednesday, while WTI crude oil price hit a yearly high of $97/b last month, adding further energy and food inflationary pressure to the economy.

Market participants expect the headline CPI-consumer price index to have risen 0.3% in September on a monthly basis, slowing from 0.6% in August, and 3.6% y-y vs 3.7% in August, while core CPI is seen steady at 0.3%. https://finance.yahoo.com/news/global-markets-asian-shares-rally-054844467.html

U.S. dollar and bond yields retreat on speculation of Fed’s rate hike pause

Posted on by Vrasidas Neofytou

Based on the dovish commentary by Fed officials and the speculation the US central bank may stand pat until year-end, Treasury yields extended recent losses, retreating their 16-year peak, with the yield on the 10-year Treasury falling 16 basis points to trade near 4.62%, while the yield on the 2-year Treasury broke below the key 5% mark, falling as low as 4.92%.

The two Fed officials signaled that the recent surge in bond yields could lead to the tightening in credit conditions the central bank is looking for, which could give policymakers a reason to call an end to raising rates in this cycle.

Based on the dovish commentary by Fed officials and the speculation the US central bank may stand pat until year-end, Treasury yields extended recent losses, retreating their 16-year peak, with the yield on the 10-year Treasury falling 16 basis points to trade near 4.62%, while the yield on the 2-year Treasury broke below the key 5% mark, falling as low as 4.92%.

The two Fed officials signaled that the recent surge in bond yields could lead to the tightening in credit conditions the central bank is looking for, which could give policymakers a reason to call an end to raising rates in this cycle.

Based on the dovish commentary by Fed officials and the speculation the US central bank may stand pat until year-end, Treasury yields extended recent losses, retreating their 16-year peak, with the yield on the 10-year Treasury falling 16 basis points to trade near 4.62%, while the yield on the 2-year Treasury broke below the key 5% mark, falling as low as 4.92%.

Fed Bank of San Francisco President Mary Daly said tighter financial conditions may mean the central bank “doesn’t have to do as much,” while the Atlanta Fed President Raphael Bostic, said Tuesday he believes current rates are high enough to get inflation back to the Fed’s 2% target.

The two Fed officials signaled that the recent surge in bond yields could lead to the tightening in credit conditions the central bank is looking for, which could give policymakers a reason to call an end to raising rates in this cycle.

Based on the dovish commentary by Fed officials and the speculation the US central bank may stand pat until year-end, Treasury yields extended recent losses, retreating their 16-year peak, with the yield on the 10-year Treasury falling 16 basis points to trade near 4.62%, while the yield on the 2-year Treasury broke below the key 5% mark, falling as low as 4.92%.

Fed Bank of San Francisco President Mary Daly said tighter financial conditions may mean the central bank “doesn’t have to do as much,” while the Atlanta Fed President Raphael Bostic, said Tuesday he believes current rates are high enough to get inflation back to the Fed’s 2% target.

The two Fed officials signaled that the recent surge in bond yields could lead to the tightening in credit conditions the central bank is looking for, which could give policymakers a reason to call an end to raising rates in this cycle.

Based on the dovish commentary by Fed officials and the speculation the US central bank may stand pat until year-end, Treasury yields extended recent losses, retreating their 16-year peak, with the yield on the 10-year Treasury falling 16 basis points to trade near 4.62%, while the yield on the 2-year Treasury broke below the key 5% mark, falling as low as 4.92%.

Dollar weakness triggered a rebound on major peers, with Euro coming off multi-month lows to rise over the $1.06 level, Pound Sterling bounced to nearly $1.23, the beaten-down Japanese Yen rebounded to ¥148.80, while the growth-sensitive Australian and New Zealand dollars bounced to $0.6430 and $0.6050 respectively.

Fed Bank of San Francisco President Mary Daly said tighter financial conditions may mean the central bank “doesn’t have to do as much,” while the Atlanta Fed President Raphael Bostic, said Tuesday he believes current rates are high enough to get inflation back to the Fed’s 2% target.

The two Fed officials signaled that the recent surge in bond yields could lead to the tightening in credit conditions the central bank is looking for, which could give policymakers a reason to call an end to raising rates in this cycle.

Based on the dovish commentary by Fed officials and the speculation the US central bank may stand pat until year-end, Treasury yields extended recent losses, retreating their 16-year peak, with the yield on the 10-year Treasury falling 16 basis points to trade near 4.62%, while the yield on the 2-year Treasury broke below the key 5% mark, falling as low as 4.92%.

Dollar weakness triggered a rebound on major peers, with Euro coming off multi-month lows to rise over the $1.06 level, Pound Sterling bounced to nearly $1.23, the beaten-down Japanese Yen rebounded to ¥148.80, while the growth-sensitive Australian and New Zealand dollars bounced to $0.6430 and $0.6050 respectively.

Fed Bank of San Francisco President Mary Daly said tighter financial conditions may mean the central bank “doesn’t have to do as much,” while the Atlanta Fed President Raphael Bostic, said Tuesday he believes current rates are high enough to get inflation back to the Fed’s 2% target.

The two Fed officials signaled that the recent surge in bond yields could lead to the tightening in credit conditions the central bank is looking for, which could give policymakers a reason to call an end to raising rates in this cycle.

Based on the dovish commentary by Fed officials and the speculation the US central bank may stand pat until year-end, Treasury yields extended recent losses, retreating their 16-year peak, with the yield on the 10-year Treasury falling 16 basis points to trade near 4.62%, while the yield on the 2-year Treasury broke below the key 5% mark, falling as low as 4.92%.

DXY-U.S. dollar index, 2-hour chart

Dollar weakness triggered a rebound on major peers, with Euro coming off multi-month lows to rise over the $1.06 level, Pound Sterling bounced to nearly $1.23, the beaten-down Japanese Yen rebounded to ¥148.80, while the growth-sensitive Australian and New Zealand dollars bounced to $0.6430 and $0.6050 respectively.

Fed Bank of San Francisco President Mary Daly said tighter financial conditions may mean the central bank “doesn’t have to do as much,” while the Atlanta Fed President Raphael Bostic, said Tuesday he believes current rates are high enough to get inflation back to the Fed’s 2% target.

The two Fed officials signaled that the recent surge in bond yields could lead to the tightening in credit conditions the central bank is looking for, which could give policymakers a reason to call an end to raising rates in this cycle.

Based on the dovish commentary by Fed officials and the speculation the US central bank may stand pat until year-end, Treasury yields extended recent losses, retreating their 16-year peak, with the yield on the 10-year Treasury falling 16 basis points to trade near 4.62%, while the yield on the 2-year Treasury broke below the key 5% mark, falling as low as 4.92%.

DXY-U.S. dollar index, 2-hour chart

Dollar weakness triggered a rebound on major peers, with Euro coming off multi-month lows to rise over the $1.06 level, Pound Sterling bounced to nearly $1.23, the beaten-down Japanese Yen rebounded to ¥148.80, while the growth-sensitive Australian and New Zealand dollars bounced to $0.6430 and $0.6050 respectively.

Fed Bank of San Francisco President Mary Daly said tighter financial conditions may mean the central bank “doesn’t have to do as much,” while the Atlanta Fed President Raphael Bostic, said Tuesday he believes current rates are high enough to get inflation back to the Fed’s 2% target.

The two Fed officials signaled that the recent surge in bond yields could lead to the tightening in credit conditions the central bank is looking for, which could give policymakers a reason to call an end to raising rates in this cycle.

Based on the dovish commentary by Fed officials and the speculation the US central bank may stand pat until year-end, Treasury yields extended recent losses, retreating their 16-year peak, with the yield on the 10-year Treasury falling 16 basis points to trade near 4.62%, while the yield on the 2-year Treasury broke below the key 5% mark, falling as low as 4.92%.

DXY-U.S. dollar index, 2-hour chart

Dollar weakness triggered a rebound on major peers, with Euro coming off multi-month lows to rise over the $1.06 level, Pound Sterling bounced to nearly $1.23, the beaten-down Japanese Yen rebounded to ¥148.80, while the growth-sensitive Australian and New Zealand dollars bounced to $0.6430 and $0.6050 respectively.

Fed Bank of San Francisco President Mary Daly said tighter financial conditions may mean the central bank “doesn’t have to do as much,” while the Atlanta Fed President Raphael Bostic, said Tuesday he believes current rates are high enough to get inflation back to the Fed’s 2% target.

The two Fed officials signaled that the recent surge in bond yields could lead to the tightening in credit conditions the central bank is looking for, which could give policymakers a reason to call an end to raising rates in this cycle.

Based on the dovish commentary by Fed officials and the speculation the US central bank may stand pat until year-end, Treasury yields extended recent losses, retreating their 16-year peak, with the yield on the 10-year Treasury falling 16 basis points to trade near 4.62%, while the yield on the 2-year Treasury broke below the key 5% mark, falling as low as 4.92%.

Greenback came off its 10-month high of 107 level hit last week, despite receiving some safety bids following Hamas’ attack on Israel on the weekend, which raised fears of a wider conflict in the energy-rich Middle East and Persian Gulf region.

DXY-U.S. dollar index, 2-hour chart

Dollar weakness triggered a rebound on major peers, with Euro coming off multi-month lows to rise over the $1.06 level, Pound Sterling bounced to nearly $1.23, the beaten-down Japanese Yen rebounded to ¥148.80, while the growth-sensitive Australian and New Zealand dollars bounced to $0.6430 and $0.6050 respectively.

Fed Bank of San Francisco President Mary Daly said tighter financial conditions may mean the central bank “doesn’t have to do as much,” while the Atlanta Fed President Raphael Bostic, said Tuesday he believes current rates are high enough to get inflation back to the Fed’s 2% target.

The two Fed officials signaled that the recent surge in bond yields could lead to the tightening in credit conditions the central bank is looking for, which could give policymakers a reason to call an end to raising rates in this cycle.

Based on the dovish commentary by Fed officials and the speculation the US central bank may stand pat until year-end, Treasury yields extended recent losses, retreating their 16-year peak, with the yield on the 10-year Treasury falling 16 basis points to trade near 4.62%, while the yield on the 2-year Treasury broke below the key 5% mark, falling as low as 4.92%.

Greenback came off its 10-month high of 107 level hit last week, despite receiving some safety bids following Hamas’ attack on Israel on the weekend, which raised fears of a wider conflict in the energy-rich Middle East and Persian Gulf region.

DXY-U.S. dollar index, 2-hour chart

Dollar weakness triggered a rebound on major peers, with Euro coming off multi-month lows to rise over the $1.06 level, Pound Sterling bounced to nearly $1.23, the beaten-down Japanese Yen rebounded to ¥148.80, while the growth-sensitive Australian and New Zealand dollars bounced to $0.6430 and $0.6050 respectively.

Fed Bank of San Francisco President Mary Daly said tighter financial conditions may mean the central bank “doesn’t have to do as much,” while the Atlanta Fed President Raphael Bostic, said Tuesday he believes current rates are high enough to get inflation back to the Fed’s 2% target.

The two Fed officials signaled that the recent surge in bond yields could lead to the tightening in credit conditions the central bank is looking for, which could give policymakers a reason to call an end to raising rates in this cycle.

Based on the dovish commentary by Fed officials and the speculation the US central bank may stand pat until year-end, Treasury yields extended recent losses, retreating their 16-year peak, with the yield on the 10-year Treasury falling 16 basis points to trade near 4.62%, while the yield on the 2-year Treasury broke below the key 5% mark, falling as low as 4.92%.

The DXY-U.S. dollar index, which tracks the value of the greenback against six major peers, hit a weekly low of 105.70 on Tuesday night after the dovish comments from two Fed officials, raising hopes interest-rate hikes may be done for now.

Greenback came off its 10-month high of 107 level hit last week, despite receiving some safety bids following Hamas’ attack on Israel on the weekend, which raised fears of a wider conflict in the energy-rich Middle East and Persian Gulf region.

DXY-U.S. dollar index, 2-hour chart

Dollar weakness triggered a rebound on major peers, with Euro coming off multi-month lows to rise over the $1.06 level, Pound Sterling bounced to nearly $1.23, the beaten-down Japanese Yen rebounded to ¥148.80, while the growth-sensitive Australian and New Zealand dollars bounced to $0.6430 and $0.6050 respectively.

Fed Bank of San Francisco President Mary Daly said tighter financial conditions may mean the central bank “doesn’t have to do as much,” while the Atlanta Fed President Raphael Bostic, said Tuesday he believes current rates are high enough to get inflation back to the Fed’s 2% target.

The two Fed officials signaled that the recent surge in bond yields could lead to the tightening in credit conditions the central bank is looking for, which could give policymakers a reason to call an end to raising rates in this cycle.

Based on the dovish commentary by Fed officials and the speculation the US central bank may stand pat until year-end, Treasury yields extended recent losses, retreating their 16-year peak, with the yield on the 10-year Treasury falling 16 basis points to trade near 4.62%, while the yield on the 2-year Treasury broke below the key 5% mark, falling as low as 4.92%.

The DXY-U.S. dollar index, which tracks the value of the greenback against six major peers, hit a weekly low of 105.70 on Tuesday night after the dovish comments from two Fed officials, raising hopes interest-rate hikes may be done for now.

Greenback came off its 10-month high of 107 level hit last week, despite receiving some safety bids following Hamas’ attack on Israel on the weekend, which raised fears of a wider conflict in the energy-rich Middle East and Persian Gulf region.

DXY-U.S. dollar index, 2-hour chart

Dollar weakness triggered a rebound on major peers, with Euro coming off multi-month lows to rise over the $1.06 level, Pound Sterling bounced to nearly $1.23, the beaten-down Japanese Yen rebounded to ¥148.80, while the growth-sensitive Australian and New Zealand dollars bounced to $0.6430 and $0.6050 respectively.

Fed Bank of San Francisco President Mary Daly said tighter financial conditions may mean the central bank “doesn’t have to do as much,” while the Atlanta Fed President Raphael Bostic, said Tuesday he believes current rates are high enough to get inflation back to the Fed’s 2% target.

The two Fed officials signaled that the recent surge in bond yields could lead to the tightening in credit conditions the central bank is looking for, which could give policymakers a reason to call an end to raising rates in this cycle.

Based on the dovish commentary by Fed officials and the speculation the US central bank may stand pat until year-end, Treasury yields extended recent losses, retreating their 16-year peak, with the yield on the 10-year Treasury falling 16 basis points to trade near 4.62%, while the yield on the 2-year Treasury broke below the key 5% mark, falling as low as 4.92%.

The U.S. dollar declined for a fifth straight day on Wednesday as Treasury yields fell amid speculation that the Federal Reserve might halt its interest rate hikes following a string of softer commentary on the monetary outlook by policymakers, and the limited impact of the Israel-Hamas military conflict in the global economy.

The DXY-U.S. dollar index, which tracks the value of the greenback against six major peers, hit a weekly low of 105.70 on Tuesday night after the dovish comments from two Fed officials, raising hopes interest-rate hikes may be done for now.

Greenback came off its 10-month high of 107 level hit last week, despite receiving some safety bids following Hamas’ attack on Israel on the weekend, which raised fears of a wider conflict in the energy-rich Middle East and Persian Gulf region.

DXY-U.S. dollar index, 2-hour chart

Dollar weakness triggered a rebound on major peers, with Euro coming off multi-month lows to rise over the $1.06 level, Pound Sterling bounced to nearly $1.23, the beaten-down Japanese Yen rebounded to ¥148.80, while the growth-sensitive Australian and New Zealand dollars bounced to $0.6430 and $0.6050 respectively.

Fed Bank of San Francisco President Mary Daly said tighter financial conditions may mean the central bank “doesn’t have to do as much,” while the Atlanta Fed President Raphael Bostic, said Tuesday he believes current rates are high enough to get inflation back to the Fed’s 2% target.

The two Fed officials signaled that the recent surge in bond yields could lead to the tightening in credit conditions the central bank is looking for, which could give policymakers a reason to call an end to raising rates in this cycle.

Based on the dovish commentary by Fed officials and the speculation the US central bank may stand pat until year-end, Treasury yields extended recent losses, retreating their 16-year peak, with the yield on the 10-year Treasury falling 16 basis points to trade near 4.62%, while the yield on the 2-year Treasury broke below the key 5% mark, falling as low as 4.92%.

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