FX Market View #17

Dollar experiences technical weakening gainst the majors During the past week the Dollar was pushed back as it failed to consolidate weeks of gains against the currency majors. From a technical stance this scenario is not totally unexpected. If you include a more hawkish tone from the FED with economic data revealing an increase in…
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Digital Asset Insights #22

MicroStrategy buys 13,005 more Bitcoin, now holds 105,000 BTC CEO Michael Saylor of the business analytics firm MicroStrategy said in a tweet in the beginning of last week that his company has acquired 13,005 more Bitcoin (BTC). The firm now holds over 105,000 Bitcoin in total. Saylor tweeted, “MicroStrategy has purchased an additional 13,005 bitcoins for ~$489…
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FX Market View #16

Hawkish FED projections send the Dollar higher The US Dollar rallied following statements from the FED that were more hawkish than previously expected. Lifted higher by the a rise in US interest rates, the Dollar rally was coincided with a sell-off in equities and continued throughout the capital markets. Coming into the weekend the markets…
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Digital Asset Insights #21

Tanzania’s president is now calling for Bitcoin and crypto adoption As per local newspaper The Citizen, Tanzania’s President Samia Sulhulu has asked the country’s Central Bank to start exploring the crypto sector, in what appears to be the latest move by a sovereign country to embrace cryptocurrency. The announcement by the President was made on June 14th, wherein…
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Digital Asset Insights #20

El Salvador set to become first country to adopt bitcoin as legal tender “Next week, I will send to Congress a bill that will make Bitcoin a legal tender,” said El Salvador’s President, Nayib Bukele, while speaking during a video broadcast at the Bitcoin 2021 conference held in Miami early last week. The President also…
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FX Market View #15

Dollar holds onto current levels despite the drop in US yields The US 10-year yield has continued its pattern of trending lower during the past 3 months, and the fall during last week’s trading session was the largest in the past year. This decline has now made it to a consecutive 4 week period of…
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FX Market View #14

A Healthy US Jobs Market is unable to lift the Dollar The US jobs report in May released numbers of a somewhat healthy half a million new employment contracts, however this disappointed against the much higher expected figure. The let down in May came shortly after the revised April numbers heavily under achieved the 1…
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Digital Asset Insights #19

Reserve bank of India slams banks after they stop services for crypto users The Reserve Bank of India, the country’s central bank, released a new directive early last week after local banks ceased crypto services for users citing a directive from 2018, an official filing shows. In the report, the bank stated clearly, “It has come to…
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FX Market View #13

Dollar range narrows with Month-end corrections As we approach month-end, investor interest in the Dollar accumulated resulting in the greenback shoring up against the majors. It is not clear however if this Dollar strengthening can be seen as a shift in the near-term trend or simply a balancing of investor portfolios. Any sustainable shift towards…
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Digital Asset Insights #18

Goldman Sachs finally considers Crypto as an asset class – a year after having stated just the opposite The powerful American investment bank, Goldman Sachs, has just now recognized that cryptocurrencies are an emerging new asset class—despite stating otherwise just a year ago. According to its recent report, which was part of a paper posted…
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