Bitcoin, Solana and altcoins hit fresh yearly highs on ETF optimism

Solana/USD, Daily chart

Yet, the star of the altcoins has been the Solana, which is also called “the Ethereum killer” as its advanced technology could beat Ethereum soon. Solana hit a fresh 15-month high of $46 this morning, adding 90% in the last 30 days and 350% year-to-day according to Coinmarket cap https://coinmarketcap.com/.

The outperformance of smaller, riskier tokens is a sign of capital rotation from bitcoin and ether after their sizable rallies toward $35k and $1,900 respectively, a typical behavior from investors during crypto bull markets.

Historically, crypto cycles have followed the trend where BTC leads the first surge, then ETH, with capital progressively being allocated to lower cap and riskier bets of DeFi and alternative layer 1 tokens.

Solana/USD, Daily chart

Yet, the star of the altcoins has been the Solana, which is also called “the Ethereum killer” as its advanced technology could beat Ethereum soon. Solana hit a fresh 15-month high of $46 this morning, adding 90% in the last 30 days and 350% year-to-day according to Coinmarket cap https://coinmarketcap.com/.

The outperformance of smaller, riskier tokens is a sign of capital rotation from bitcoin and ether after their sizable rallies toward $35k and $1,900 respectively, a typical behavior from investors during crypto bull markets.

Historically, crypto cycles have followed the trend where BTC leads the first surge, then ETH, with capital progressively being allocated to lower cap and riskier bets of DeFi and alternative layer 1 tokens.

Solana/USD, Daily chart

Yet, the star of the altcoins has been the Solana, which is also called “the Ethereum killer” as its advanced technology could beat Ethereum soon. Solana hit a fresh 15-month high of $46 this morning, adding 90% in the last 30 days and 350% year-to-day according to Coinmarket cap https://coinmarketcap.com/.

The outperformance of smaller, riskier tokens is a sign of capital rotation from bitcoin and ether after their sizable rallies toward $35k and $1,900 respectively, a typical behavior from investors during crypto bull markets.

Historically, crypto cycles have followed the trend where BTC leads the first surge, then ETH, with capital progressively being allocated to lower cap and riskier bets of DeFi and alternative layer 1 tokens.

Bitcoin finally broke above the key $35,000 resistance level on Thursday morning, climbing as high as $37,000, the highest since May 2022, while some major altcoins hit fresh yearly highs as strong demand is flowing back into the crypto ecosystem, driven by the optimism around the launch of the first spot Bitcoin ETF.

Crypto investors and speculators have been flowing back into the hard-beaten cryptocurrencies since the start of the year, as the anticipation of the approval of the first Bitcoin ETF by SEC soon, has created a sustainable demand for crypto assets across the board, driving their prices to yearly highs.

Bitcoin managed to break above the $35,000 price level this morning toward the $37,000 level. The $35,000 price level had proved to be a key resistance for any upward movement for the last two weeks, with any attempt for a breakout met with heavy sale orders pushing the price back down to $33-$34K.

Some in the Crypto world think the worst is behind certain tokens and there might be a continuation of the recent upward momentum. Cryptos hit a bottom in 2022 following a series of scandals (FTX) forcing many investors to jump out of any crypto asset, a period which was called “crypto winder”.

Altcoins strong rally:

Bitcoin and Ethereum were stuck below the key $35,000 and $1,900 resistance levels this week, with crypto traders likely liquidating their BTC and ETH profits and rotating into altcoins, pushing those prices to fresh yearly highs.

Altcoins or alternative cryptocurrencies is a basket of more than a hundred small and riskier tokens-cryptocurrencies weighted by market cap, an alternative bet to the two blue-chip cryptocurrencies, Bitcoin and Ethereum.

In this context, major tokens such as Avalanche, Cardano, and Polkadot have gained up to 40% in the last month and almost doubled their value since the start of the year.

Solana/USD, Daily chart

Yet, the star of the altcoins has been the Solana, which is also called “the Ethereum killer” as its advanced technology could beat Ethereum soon. Solana hit a fresh 15-month high of $46 this morning, adding 90% in the last 30 days and 350% year-to-day according to Coinmarket cap https://coinmarketcap.com/.

The outperformance of smaller, riskier tokens is a sign of capital rotation from bitcoin and ether after their sizable rallies toward $35k and $1,900 respectively, a typical behavior from investors during crypto bull markets.

Historically, crypto cycles have followed the trend where BTC leads the first surge, then ETH, with capital progressively being allocated to lower cap and riskier bets of DeFi and alternative layer 1 tokens.

U.S. equities advance higher on Fed’s dovish stance and lower yields

The positive investment momentum has also increased from the fact that there were few signs that the conflict in the Middle East would expand into a wider regional war, removing the geopolitical premium from the crude oil prices, with Brent falling to $86/b, and WTI sliding to $81/b.

 

The positive investment momentum has also increased from the fact that there were few signs that the conflict in the Middle East would expand into a wider regional war, removing the geopolitical premium from the crude oil prices, with Brent falling to $86/b, and WTI sliding to $81/b.

 

The yield-sensitive technology stocks and the other interest rate-sensitive momentum stocks usually benefit from a drop in Treasury yields, making their profitability less exposed to higher borrowing costs.

The positive investment momentum has also increased from the fact that there were few signs that the conflict in the Middle East would expand into a wider regional war, removing the geopolitical premium from the crude oil prices, with Brent falling to $86/b, and WTI sliding to $81/b.

 

The yield-sensitive technology stocks and the other interest rate-sensitive momentum stocks usually benefit from a drop in Treasury yields, making their profitability less exposed to higher borrowing costs.

The positive investment momentum has also increased from the fact that there were few signs that the conflict in the Middle East would expand into a wider regional war, removing the geopolitical premium from the crude oil prices, with Brent falling to $86/b, and WTI sliding to $81/b.

 

Nasdaq Composite, 2-hour chart

The yield-sensitive technology stocks and the other interest rate-sensitive momentum stocks usually benefit from a drop in Treasury yields, making their profitability less exposed to higher borrowing costs.

The positive investment momentum has also increased from the fact that there were few signs that the conflict in the Middle East would expand into a wider regional war, removing the geopolitical premium from the crude oil prices, with Brent falling to $86/b, and WTI sliding to $81/b.

 

Nasdaq Composite, 2-hour chart

The yield-sensitive technology stocks and the other interest rate-sensitive momentum stocks usually benefit from a drop in Treasury yields, making their profitability less exposed to higher borrowing costs.

The positive investment momentum has also increased from the fact that there were few signs that the conflict in the Middle East would expand into a wider regional war, removing the geopolitical premium from the crude oil prices, with Brent falling to $86/b, and WTI sliding to $81/b.

 

Nasdaq Composite, 2-hour chart

The yield-sensitive technology stocks and the other interest rate-sensitive momentum stocks usually benefit from a drop in Treasury yields, making their profitability less exposed to higher borrowing costs.

The positive investment momentum has also increased from the fact that there were few signs that the conflict in the Middle East would expand into a wider regional war, removing the geopolitical premium from the crude oil prices, with Brent falling to $86/b, and WTI sliding to $81/b.

 

In this context, the tech-heavy and yield-sensitive Nasdaq Composite finished last week higher by 6.60% at 13,478 recording its best week since November 2022, the S&P 500 index advanced 5.85% to 4,358, while the industry-sensitive Dow Jones index ended the week at 34,061, up by 5.07% in its most winning week since October 2022.

Nasdaq Composite, 2-hour chart

The yield-sensitive technology stocks and the other interest rate-sensitive momentum stocks usually benefit from a drop in Treasury yields, making their profitability less exposed to higher borrowing costs.

The positive investment momentum has also increased from the fact that there were few signs that the conflict in the Middle East would expand into a wider regional war, removing the geopolitical premium from the crude oil prices, with Brent falling to $86/b, and WTI sliding to $81/b.

 

In this context, the tech-heavy and yield-sensitive Nasdaq Composite finished last week higher by 6.60% at 13,478 recording its best week since November 2022, the S&P 500 index advanced 5.85% to 4,358, while the industry-sensitive Dow Jones index ended the week at 34,061, up by 5.07% in its most winning week since October 2022.

Nasdaq Composite, 2-hour chart

The yield-sensitive technology stocks and the other interest rate-sensitive momentum stocks usually benefit from a drop in Treasury yields, making their profitability less exposed to higher borrowing costs.

The positive investment momentum has also increased from the fact that there were few signs that the conflict in the Middle East would expand into a wider regional war, removing the geopolitical premium from the crude oil prices, with Brent falling to $86/b, and WTI sliding to $81/b.

 

Adding to the above, the solid earnings have also brought buyers back into the market as most of the S&P 500 companies have already reported positive quarterly financial results, despite the higher energy prices and elevating borrowing costs.

In this context, the tech-heavy and yield-sensitive Nasdaq Composite finished last week higher by 6.60% at 13,478 recording its best week since November 2022, the S&P 500 index advanced 5.85% to 4,358, while the industry-sensitive Dow Jones index ended the week at 34,061, up by 5.07% in its most winning week since October 2022.

Nasdaq Composite, 2-hour chart

The yield-sensitive technology stocks and the other interest rate-sensitive momentum stocks usually benefit from a drop in Treasury yields, making their profitability less exposed to higher borrowing costs.

The positive investment momentum has also increased from the fact that there were few signs that the conflict in the Middle East would expand into a wider regional war, removing the geopolitical premium from the crude oil prices, with Brent falling to $86/b, and WTI sliding to $81/b.

 

Adding to the above, the solid earnings have also brought buyers back into the market as most of the S&P 500 companies have already reported positive quarterly financial results, despite the higher energy prices and elevating borrowing costs.

In this context, the tech-heavy and yield-sensitive Nasdaq Composite finished last week higher by 6.60% at 13,478 recording its best week since November 2022, the S&P 500 index advanced 5.85% to 4,358, while the industry-sensitive Dow Jones index ended the week at 34,061, up by 5.07% in its most winning week since October 2022.

Nasdaq Composite, 2-hour chart

The yield-sensitive technology stocks and the other interest rate-sensitive momentum stocks usually benefit from a drop in Treasury yields, making their profitability less exposed to higher borrowing costs.

The positive investment momentum has also increased from the fact that there were few signs that the conflict in the Middle East would expand into a wider regional war, removing the geopolitical premium from the crude oil prices, with Brent falling to $86/b, and WTI sliding to $81/b.

 

Treasury yields initially eased off their 16-year highs last Wednesday (at 5% on the 10-year bond yield), when the Federal Reserve kept rates unchanged to 5.25%-5.50% for a second straight meeting, lifting the bets that the Fed’s rate-hiking campaign may be over.

Adding to the above, the solid earnings have also brought buyers back into the market as most of the S&P 500 companies have already reported positive quarterly financial results, despite the higher energy prices and elevating borrowing costs.

In this context, the tech-heavy and yield-sensitive Nasdaq Composite finished last week higher by 6.60% at 13,478 recording its best week since November 2022, the S&P 500 index advanced 5.85% to 4,358, while the industry-sensitive Dow Jones index ended the week at 34,061, up by 5.07% in its most winning week since October 2022.

Nasdaq Composite, 2-hour chart

The yield-sensitive technology stocks and the other interest rate-sensitive momentum stocks usually benefit from a drop in Treasury yields, making their profitability less exposed to higher borrowing costs.

The positive investment momentum has also increased from the fact that there were few signs that the conflict in the Middle East would expand into a wider regional war, removing the geopolitical premium from the crude oil prices, with Brent falling to $86/b, and WTI sliding to $81/b.

 

Treasury yields initially eased off their 16-year highs last Wednesday (at 5% on the 10-year bond yield), when the Federal Reserve kept rates unchanged to 5.25%-5.50% for a second straight meeting, lifting the bets that the Fed’s rate-hiking campaign may be over.

Adding to the above, the solid earnings have also brought buyers back into the market as most of the S&P 500 companies have already reported positive quarterly financial results, despite the higher energy prices and elevating borrowing costs.

In this context, the tech-heavy and yield-sensitive Nasdaq Composite finished last week higher by 6.60% at 13,478 recording its best week since November 2022, the S&P 500 index advanced 5.85% to 4,358, while the industry-sensitive Dow Jones index ended the week at 34,061, up by 5.07% in its most winning week since October 2022.

Nasdaq Composite, 2-hour chart

The yield-sensitive technology stocks and the other interest rate-sensitive momentum stocks usually benefit from a drop in Treasury yields, making their profitability less exposed to higher borrowing costs.

The positive investment momentum has also increased from the fact that there were few signs that the conflict in the Middle East would expand into a wider regional war, removing the geopolitical premium from the crude oil prices, with Brent falling to $86/b, and WTI sliding to $81/b.

 

The jobs growth slowdown is a welcome sign for the Federal Reserve, which has noted more softening in the labour market will likely be needed to keep inflation on its downward trajectory.

Treasury yields initially eased off their 16-year highs last Wednesday (at 5% on the 10-year bond yield), when the Federal Reserve kept rates unchanged to 5.25%-5.50% for a second straight meeting, lifting the bets that the Fed’s rate-hiking campaign may be over.

Adding to the above, the solid earnings have also brought buyers back into the market as most of the S&P 500 companies have already reported positive quarterly financial results, despite the higher energy prices and elevating borrowing costs.

In this context, the tech-heavy and yield-sensitive Nasdaq Composite finished last week higher by 6.60% at 13,478 recording its best week since November 2022, the S&P 500 index advanced 5.85% to 4,358, while the industry-sensitive Dow Jones index ended the week at 34,061, up by 5.07% in its most winning week since October 2022.

Nasdaq Composite, 2-hour chart

The yield-sensitive technology stocks and the other interest rate-sensitive momentum stocks usually benefit from a drop in Treasury yields, making their profitability less exposed to higher borrowing costs.

The positive investment momentum has also increased from the fact that there were few signs that the conflict in the Middle East would expand into a wider regional war, removing the geopolitical premium from the crude oil prices, with Brent falling to $86/b, and WTI sliding to $81/b.

 

The jobs growth slowdown is a welcome sign for the Federal Reserve, which has noted more softening in the labour market will likely be needed to keep inflation on its downward trajectory.

Treasury yields initially eased off their 16-year highs last Wednesday (at 5% on the 10-year bond yield), when the Federal Reserve kept rates unchanged to 5.25%-5.50% for a second straight meeting, lifting the bets that the Fed’s rate-hiking campaign may be over.

Adding to the above, the solid earnings have also brought buyers back into the market as most of the S&P 500 companies have already reported positive quarterly financial results, despite the higher energy prices and elevating borrowing costs.

In this context, the tech-heavy and yield-sensitive Nasdaq Composite finished last week higher by 6.60% at 13,478 recording its best week since November 2022, the S&P 500 index advanced 5.85% to 4,358, while the industry-sensitive Dow Jones index ended the week at 34,061, up by 5.07% in its most winning week since October 2022.

Nasdaq Composite, 2-hour chart

The yield-sensitive technology stocks and the other interest rate-sensitive momentum stocks usually benefit from a drop in Treasury yields, making their profitability less exposed to higher borrowing costs.

The positive investment momentum has also increased from the fact that there were few signs that the conflict in the Middle East would expand into a wider regional war, removing the geopolitical premium from the crude oil prices, with Brent falling to $86/b, and WTI sliding to $81/b.

 

The appetite for risk assets such as stocks and growth-sensitive currencies lifted last Friday, as the cooler-than-expected U.S. NFP jobs report for October drove the 2-year and 10-year Treasury yields as low as 4.80% and 4.50% respectively, boosting all 3 U.S. stock indices to monthly highs.

The jobs growth slowdown is a welcome sign for the Federal Reserve, which has noted more softening in the labour market will likely be needed to keep inflation on its downward trajectory.

Treasury yields initially eased off their 16-year highs last Wednesday (at 5% on the 10-year bond yield), when the Federal Reserve kept rates unchanged to 5.25%-5.50% for a second straight meeting, lifting the bets that the Fed’s rate-hiking campaign may be over.

Adding to the above, the solid earnings have also brought buyers back into the market as most of the S&P 500 companies have already reported positive quarterly financial results, despite the higher energy prices and elevating borrowing costs.

In this context, the tech-heavy and yield-sensitive Nasdaq Composite finished last week higher by 6.60% at 13,478 recording its best week since November 2022, the S&P 500 index advanced 5.85% to 4,358, while the industry-sensitive Dow Jones index ended the week at 34,061, up by 5.07% in its most winning week since October 2022.

Nasdaq Composite, 2-hour chart

The yield-sensitive technology stocks and the other interest rate-sensitive momentum stocks usually benefit from a drop in Treasury yields, making their profitability less exposed to higher borrowing costs.

The positive investment momentum has also increased from the fact that there were few signs that the conflict in the Middle East would expand into a wider regional war, removing the geopolitical premium from the crude oil prices, with Brent falling to $86/b, and WTI sliding to $81/b.

 

The appetite for risk assets such as stocks and growth-sensitive currencies lifted last Friday, as the cooler-than-expected U.S. NFP jobs report for October drove the 2-year and 10-year Treasury yields as low as 4.80% and 4.50% respectively, boosting all 3 U.S. stock indices to monthly highs.

The jobs growth slowdown is a welcome sign for the Federal Reserve, which has noted more softening in the labour market will likely be needed to keep inflation on its downward trajectory.

Treasury yields initially eased off their 16-year highs last Wednesday (at 5% on the 10-year bond yield), when the Federal Reserve kept rates unchanged to 5.25%-5.50% for a second straight meeting, lifting the bets that the Fed’s rate-hiking campaign may be over.

Adding to the above, the solid earnings have also brought buyers back into the market as most of the S&P 500 companies have already reported positive quarterly financial results, despite the higher energy prices and elevating borrowing costs.

In this context, the tech-heavy and yield-sensitive Nasdaq Composite finished last week higher by 6.60% at 13,478 recording its best week since November 2022, the S&P 500 index advanced 5.85% to 4,358, while the industry-sensitive Dow Jones index ended the week at 34,061, up by 5.07% in its most winning week since October 2022.

Nasdaq Composite, 2-hour chart

The yield-sensitive technology stocks and the other interest rate-sensitive momentum stocks usually benefit from a drop in Treasury yields, making their profitability less exposed to higher borrowing costs.

The positive investment momentum has also increased from the fact that there were few signs that the conflict in the Middle East would expand into a wider regional war, removing the geopolitical premium from the crude oil prices, with Brent falling to $86/b, and WTI sliding to $81/b.

 

All 3 U.S. stock indices have started November on the right footing, posting their best trading week of the year so far last week, on hope for an end to the Federal Reserve’s rate-hiking campaign coupled with the solid Q3 earnings, the soft U.S. NFP data report, the falling crude oil prices, and the weaker U.S. dollar.

The appetite for risk assets such as stocks and growth-sensitive currencies lifted last Friday, as the cooler-than-expected U.S. NFP jobs report for October drove the 2-year and 10-year Treasury yields as low as 4.80% and 4.50% respectively, boosting all 3 U.S. stock indices to monthly highs.

The jobs growth slowdown is a welcome sign for the Federal Reserve, which has noted more softening in the labour market will likely be needed to keep inflation on its downward trajectory.

Treasury yields initially eased off their 16-year highs last Wednesday (at 5% on the 10-year bond yield), when the Federal Reserve kept rates unchanged to 5.25%-5.50% for a second straight meeting, lifting the bets that the Fed’s rate-hiking campaign may be over.

Adding to the above, the solid earnings have also brought buyers back into the market as most of the S&P 500 companies have already reported positive quarterly financial results, despite the higher energy prices and elevating borrowing costs.

In this context, the tech-heavy and yield-sensitive Nasdaq Composite finished last week higher by 6.60% at 13,478 recording its best week since November 2022, the S&P 500 index advanced 5.85% to 4,358, while the industry-sensitive Dow Jones index ended the week at 34,061, up by 5.07% in its most winning week since October 2022.

Nasdaq Composite, 2-hour chart

The yield-sensitive technology stocks and the other interest rate-sensitive momentum stocks usually benefit from a drop in Treasury yields, making their profitability less exposed to higher borrowing costs.

The positive investment momentum has also increased from the fact that there were few signs that the conflict in the Middle East would expand into a wider regional war, removing the geopolitical premium from the crude oil prices, with Brent falling to $86/b, and WTI sliding to $81/b.

 

U.S. dollar retreated across the board on bets of no more Fed rate hikes

Federal Reserve, together with other major central banks, has set a goal to bring back inflation at the 2% rate over the long run, applying a tightening of monetary policy by increasing the interest rates and others, affecting economic activity and inflation.

 

Federal Reserve, together with other major central banks, has set a goal to bring back inflation at the 2% rate over the long run, applying a tightening of monetary policy by increasing the interest rates and others, affecting economic activity and inflation.

 

The last rate hike took place at July’s FOMC, where the policymakers voted to raise rates by 25 basis points (0.25%), which brought the short-term federal funds rate to the target range of 5.25% to 5.5%, posting the 11th rate increase since March 2022 aimed at curbing inflation, which stood rose at 4.9% y-y in October.

Federal Reserve, together with other major central banks, has set a goal to bring back inflation at the 2% rate over the long run, applying a tightening of monetary policy by increasing the interest rates and others, affecting economic activity and inflation.

 

The last rate hike took place at July’s FOMC, where the policymakers voted to raise rates by 25 basis points (0.25%), which brought the short-term federal funds rate to the target range of 5.25% to 5.5%, posting the 11th rate increase since March 2022 aimed at curbing inflation, which stood rose at 4.9% y-y in October.

Federal Reserve, together with other major central banks, has set a goal to bring back inflation at the 2% rate over the long run, applying a tightening of monetary policy by increasing the interest rates and others, affecting economic activity and inflation.

 

This is the second consecutive policy meeting (after September’s FOMC) in which the committee left rates unchanged, at a rate that is its highest in 22 years, providing a small relief to consumers and corporations with variable funding sources.

The last rate hike took place at July’s FOMC, where the policymakers voted to raise rates by 25 basis points (0.25%), which brought the short-term federal funds rate to the target range of 5.25% to 5.5%, posting the 11th rate increase since March 2022 aimed at curbing inflation, which stood rose at 4.9% y-y in October.

Federal Reserve, together with other major central banks, has set a goal to bring back inflation at the 2% rate over the long run, applying a tightening of monetary policy by increasing the interest rates and others, affecting economic activity and inflation.

 

This is the second consecutive policy meeting (after September’s FOMC) in which the committee left rates unchanged, at a rate that is its highest in 22 years, providing a small relief to consumers and corporations with variable funding sources.

The last rate hike took place at July’s FOMC, where the policymakers voted to raise rates by 25 basis points (0.25%), which brought the short-term federal funds rate to the target range of 5.25% to 5.5%, posting the 11th rate increase since March 2022 aimed at curbing inflation, which stood rose at 4.9% y-y in October.

Federal Reserve, together with other major central banks, has set a goal to bring back inflation at the 2% rate over the long run, applying a tightening of monetary policy by increasing the interest rates and others, affecting economic activity and inflation.

 

DXY, 30-minutes chart

This is the second consecutive policy meeting (after September’s FOMC) in which the committee left rates unchanged, at a rate that is its highest in 22 years, providing a small relief to consumers and corporations with variable funding sources.

The last rate hike took place at July’s FOMC, where the policymakers voted to raise rates by 25 basis points (0.25%), which brought the short-term federal funds rate to the target range of 5.25% to 5.5%, posting the 11th rate increase since March 2022 aimed at curbing inflation, which stood rose at 4.9% y-y in October.

Federal Reserve, together with other major central banks, has set a goal to bring back inflation at the 2% rate over the long run, applying a tightening of monetary policy by increasing the interest rates and others, affecting economic activity and inflation.

 

DXY, 30-minutes chart

This is the second consecutive policy meeting (after September’s FOMC) in which the committee left rates unchanged, at a rate that is its highest in 22 years, providing a small relief to consumers and corporations with variable funding sources.

The last rate hike took place at July’s FOMC, where the policymakers voted to raise rates by 25 basis points (0.25%), which brought the short-term federal funds rate to the target range of 5.25% to 5.5%, posting the 11th rate increase since March 2022 aimed at curbing inflation, which stood rose at 4.9% y-y in October.

Federal Reserve, together with other major central banks, has set a goal to bring back inflation at the 2% rate over the long run, applying a tightening of monetary policy by increasing the interest rates and others, affecting economic activity and inflation.

 

DXY, 30-minutes chart

This is the second consecutive policy meeting (after September’s FOMC) in which the committee left rates unchanged, at a rate that is its highest in 22 years, providing a small relief to consumers and corporations with variable funding sources.

The last rate hike took place at July’s FOMC, where the policymakers voted to raise rates by 25 basis points (0.25%), which brought the short-term federal funds rate to the target range of 5.25% to 5.5%, posting the 11th rate increase since March 2022 aimed at curbing inflation, which stood rose at 4.9% y-y in October.

Federal Reserve, together with other major central banks, has set a goal to bring back inflation at the 2% rate over the long run, applying a tightening of monetary policy by increasing the interest rates and others, affecting economic activity and inflation.

 

In this context, the greenback retreated from its multi-month high of 107 mark hit on Wednesday morning, boosting the Euro to rise nearly $1.0620, Pound Sterling to retest the 1.22 resistance level, while the Japanese Yen rebounded toward the key ¥150 psychological level.

DXY, 30-minutes chart

This is the second consecutive policy meeting (after September’s FOMC) in which the committee left rates unchanged, at a rate that is its highest in 22 years, providing a small relief to consumers and corporations with variable funding sources.

The last rate hike took place at July’s FOMC, where the policymakers voted to raise rates by 25 basis points (0.25%), which brought the short-term federal funds rate to the target range of 5.25% to 5.5%, posting the 11th rate increase since March 2022 aimed at curbing inflation, which stood rose at 4.9% y-y in October.

Federal Reserve, together with other major central banks, has set a goal to bring back inflation at the 2% rate over the long run, applying a tightening of monetary policy by increasing the interest rates and others, affecting economic activity and inflation.

 

In this context, the greenback retreated from its multi-month high of 107 mark hit on Wednesday morning, boosting the Euro to rise nearly $1.0620, Pound Sterling to retest the 1.22 resistance level, while the Japanese Yen rebounded toward the key ¥150 psychological level.

DXY, 30-minutes chart

This is the second consecutive policy meeting (after September’s FOMC) in which the committee left rates unchanged, at a rate that is its highest in 22 years, providing a small relief to consumers and corporations with variable funding sources.

The last rate hike took place at July’s FOMC, where the policymakers voted to raise rates by 25 basis points (0.25%), which brought the short-term federal funds rate to the target range of 5.25% to 5.5%, posting the 11th rate increase since March 2022 aimed at curbing inflation, which stood rose at 4.9% y-y in October.

Federal Reserve, together with other major central banks, has set a goal to bring back inflation at the 2% rate over the long run, applying a tightening of monetary policy by increasing the interest rates and others, affecting economic activity and inflation.

 

Adding pressure on the U.S. dollar and Treasury yields, Fed Chair Powell struck a less hawkish tone than markets were expecting, by acknowledging that monetary conditions had tightened substantially in recent months while leaving the door open to one more hike depending on the financial conditions.

In this context, the greenback retreated from its multi-month high of 107 mark hit on Wednesday morning, boosting the Euro to rise nearly $1.0620, Pound Sterling to retest the 1.22 resistance level, while the Japanese Yen rebounded toward the key ¥150 psychological level.

DXY, 30-minutes chart

This is the second consecutive policy meeting (after September’s FOMC) in which the committee left rates unchanged, at a rate that is its highest in 22 years, providing a small relief to consumers and corporations with variable funding sources.

The last rate hike took place at July’s FOMC, where the policymakers voted to raise rates by 25 basis points (0.25%), which brought the short-term federal funds rate to the target range of 5.25% to 5.5%, posting the 11th rate increase since March 2022 aimed at curbing inflation, which stood rose at 4.9% y-y in October.

Federal Reserve, together with other major central banks, has set a goal to bring back inflation at the 2% rate over the long run, applying a tightening of monetary policy by increasing the interest rates and others, affecting economic activity and inflation.

 

Adding pressure on the U.S. dollar and Treasury yields, Fed Chair Powell struck a less hawkish tone than markets were expecting, by acknowledging that monetary conditions had tightened substantially in recent months while leaving the door open to one more hike depending on the financial conditions.

In this context, the greenback retreated from its multi-month high of 107 mark hit on Wednesday morning, boosting the Euro to rise nearly $1.0620, Pound Sterling to retest the 1.22 resistance level, while the Japanese Yen rebounded toward the key ¥150 psychological level.

DXY, 30-minutes chart

This is the second consecutive policy meeting (after September’s FOMC) in which the committee left rates unchanged, at a rate that is its highest in 22 years, providing a small relief to consumers and corporations with variable funding sources.

The last rate hike took place at July’s FOMC, where the policymakers voted to raise rates by 25 basis points (0.25%), which brought the short-term federal funds rate to the target range of 5.25% to 5.5%, posting the 11th rate increase since March 2022 aimed at curbing inflation, which stood rose at 4.9% y-y in October.

Federal Reserve, together with other major central banks, has set a goal to bring back inflation at the 2% rate over the long run, applying a tightening of monetary policy by increasing the interest rates and others, affecting economic activity and inflation.

 

In a widely anticipated move on Wall Street, the Federal Reserve once again maintained its benchmark interest rate at the current 5.25% to 5.5% target range, following the conclusion of its two-day FOMC monetary policy meeting on November 01.

Adding pressure on the U.S. dollar and Treasury yields, Fed Chair Powell struck a less hawkish tone than markets were expecting, by acknowledging that monetary conditions had tightened substantially in recent months while leaving the door open to one more hike depending on the financial conditions.

In this context, the greenback retreated from its multi-month high of 107 mark hit on Wednesday morning, boosting the Euro to rise nearly $1.0620, Pound Sterling to retest the 1.22 resistance level, while the Japanese Yen rebounded toward the key ¥150 psychological level.

DXY, 30-minutes chart

This is the second consecutive policy meeting (after September’s FOMC) in which the committee left rates unchanged, at a rate that is its highest in 22 years, providing a small relief to consumers and corporations with variable funding sources.

The last rate hike took place at July’s FOMC, where the policymakers voted to raise rates by 25 basis points (0.25%), which brought the short-term federal funds rate to the target range of 5.25% to 5.5%, posting the 11th rate increase since March 2022 aimed at curbing inflation, which stood rose at 4.9% y-y in October.

Federal Reserve, together with other major central banks, has set a goal to bring back inflation at the 2% rate over the long run, applying a tightening of monetary policy by increasing the interest rates and others, affecting economic activity and inflation.

 

In a widely anticipated move on Wall Street, the Federal Reserve once again maintained its benchmark interest rate at the current 5.25% to 5.5% target range, following the conclusion of its two-day FOMC monetary policy meeting on November 01.

Adding pressure on the U.S. dollar and Treasury yields, Fed Chair Powell struck a less hawkish tone than markets were expecting, by acknowledging that monetary conditions had tightened substantially in recent months while leaving the door open to one more hike depending on the financial conditions.

In this context, the greenback retreated from its multi-month high of 107 mark hit on Wednesday morning, boosting the Euro to rise nearly $1.0620, Pound Sterling to retest the 1.22 resistance level, while the Japanese Yen rebounded toward the key ¥150 psychological level.

DXY, 30-minutes chart

This is the second consecutive policy meeting (after September’s FOMC) in which the committee left rates unchanged, at a rate that is its highest in 22 years, providing a small relief to consumers and corporations with variable funding sources.

The last rate hike took place at July’s FOMC, where the policymakers voted to raise rates by 25 basis points (0.25%), which brought the short-term federal funds rate to the target range of 5.25% to 5.5%, posting the 11th rate increase since March 2022 aimed at curbing inflation, which stood rose at 4.9% y-y in October.

Federal Reserve, together with other major central banks, has set a goal to bring back inflation at the 2% rate over the long run, applying a tightening of monetary policy by increasing the interest rates and others, affecting economic activity and inflation.

 

The DXY-U.S. dollar index retreated this morning to the nearly 106.20 mark, or 0.40% down, extending overnight losses, as investors increased bets that the Federal Reserve was done raising interest rates.

In a widely anticipated move on Wall Street, the Federal Reserve once again maintained its benchmark interest rate at the current 5.25% to 5.5% target range, following the conclusion of its two-day FOMC monetary policy meeting on November 01.

Adding pressure on the U.S. dollar and Treasury yields, Fed Chair Powell struck a less hawkish tone than markets were expecting, by acknowledging that monetary conditions had tightened substantially in recent months while leaving the door open to one more hike depending on the financial conditions.

In this context, the greenback retreated from its multi-month high of 107 mark hit on Wednesday morning, boosting the Euro to rise nearly $1.0620, Pound Sterling to retest the 1.22 resistance level, while the Japanese Yen rebounded toward the key ¥150 psychological level.

DXY, 30-minutes chart

This is the second consecutive policy meeting (after September’s FOMC) in which the committee left rates unchanged, at a rate that is its highest in 22 years, providing a small relief to consumers and corporations with variable funding sources.

The last rate hike took place at July’s FOMC, where the policymakers voted to raise rates by 25 basis points (0.25%), which brought the short-term federal funds rate to the target range of 5.25% to 5.5%, posting the 11th rate increase since March 2022 aimed at curbing inflation, which stood rose at 4.9% y-y in October.

Federal Reserve, together with other major central banks, has set a goal to bring back inflation at the 2% rate over the long run, applying a tightening of monetary policy by increasing the interest rates and others, affecting economic activity and inflation.