Source: PaxForex Premium Analytics Portal, Fundamental Insight After reaching 2023 highs in July, Bitcoin has experienced five weeks of quiet selling. Volatility dropped to 2017 lows, pointing towards a potentially bigger move in price action ahead. Before Bitcoin bulls tout their horns, the move can go in either direction and history often repeats itself. In 2017, after Bitcoin bulls pushed prices to fresh peaks, volatility decreased, and prices dropped roughly 50% before resuming their long-term uptrend. A similar pattern could...
Source: PaxForex Premium Analytics Portal, Fundamental Insight Investors warmly welcomed Alphabet's latest financial report, which showcased impressive results. The company reported a substantial revenue of $74.6 billion and diluted earnings per share of $1.44, surpassing the expectations set by Wall Street. Unsurprisingly, the stock experienced a surge following this announcement. This positive momentum is part of a broader trend for the company. Throughout the first seven months of 2023, Alphabet's shares have outperformed the...
Source: PaxForex Premium Analytics Portal, Fundamental Insight The US NFP Report for July is predicted to show 200K job additions and an unemployment rate of 3.6%. Forex traders can compare this to the US NFP Report for June, which showed 209K job additions and an unemployment rate of 3.6%. Private Payrolls for July are predicted to show 179K job additions and Manufacturing Payrolls 5K job additions. Forex traders can compare this to Private Payrolls for June, which showed 149K job additions, and Manufacturing Payrolls, which showed 7K job...
Source: PaxForex Premium Analytics Portal, Fundamental Insight Microsoft recently released a substantial amount of fresh data concerning its extensive technology business, presenting updated demand metrics for its key product lines and fiscal 2024 projections in its fiscal fourth-quarter earnings report. In light of the new era of AI-powered software and services, the company's management expressed optimism about Microsoft's future prospects. However, some investors remain cautious about this costly stock, and there are valid...
Source: PaxForex Premium Analytics Portal, Fundamental Insight The Final Australian Judo Bank Services PMI for July came in at 47.9, and the Final Australian Judo Bank Composite PMI at 48.2. Economists predicted a reading of 48.0 and 48.2. Forex traders can compare this to the Australian Judo Bank Services PMI for June, reported at 50.3, and the Final Australian Judo Bank Composite PMI at 50.1. The Australian Trade Balance for June came in at A$11,321M. Economists predicted a figure of A$11.000M. Forex traders can compare this to the...