Source: PaxForex Premium Analytics Portal, Fundamental Insight Ethereum, the second-largest cryptocurrency by market capitalization, has now fallen nearly 70% in one year and more than 75% from its all-time high set last November. The scale and speed of the cryptocurrency market's decline are alarming - during that time, Ethereum tokens have lost a staggering $415 billion in value, roughly equal to the market value of ExxonMobil. The main drivers of the cryptocurrency sell-off were the same fears about inflation and interest rates as...
Source: PaxForex Premium Analytics Portal, Fundamental Insight Traders could start the week with a quieter trading session due to a US holiday. The absence of professional and institutional traders could spark a retail-led bear market rally. The broad-based bear market is healthy and well-positioned to dominate over the following months, but bear market rallies and bull traps will dot the way, fueling the bear market to new multi-year lows. US policymakers continue believing they can avoid a recession, failing to admit policy mistakes...
Source: PaxForex Premium Analytics Portal, Fundamental Insight The Singapore Trade Balance for May came in at $3.243B. Forex traders can compare this to the Singapore Balance for April, reported at $4.208B. Non-Oil Exports for May increased 3.2% monthly and 12.4% annualized. Economists predicted a rise of 1.4% and 7.6%. Forex traders can compare this to Non-Oil Exports for April, which contracted 3.3% monthly and expanded 6.4% annualized. The Eurozone CPI for May is predicted to increase 0.8% monthly and 8.1% annualized. Forex traders can...
Source: PaxForex Premium Analytics Portal, Fundamental Insight Twitter set ambitious growth goals during its presentation to analysts in February 2021. The social media company said it could increase the number of monetizable daily active users (mDAUs) from 192 million at the end of 2020 to more than 315 million by the end of 2023, and more than double its annual revenue, from $3.7 billion in 2020 to "more than $7.5 billion" in 2023. Those goals initially impressed investors, but the sudden resignation of CEO Jack Dorsey last...
Source: PaxForex Premium Analytics Portal, Fundamental Insight The Bank of England is predicted to hike interest rates by 25 basis points to 1.25% and keep the Asset Purchase Target at £875B. Forex traders can compare this to the previous Bank of England meeting, where the UK central bank raised interest rates by 25 basis points to 1.00% and kept the Asset Purchase Target at £875B. Traders should monitor the press release following the announcement for clues about potential changes to monetary policy and the inflation outlook....
