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Alexander Kuptsikevich

FxPro Forex Analysis: U.S. Treasury Auctions Offer Temporary Support for the Dollar

The U.S. currency continues to register gains this week, having so far recovered two thirds of last week’s losses. EURUSD is currently trading near 1.2330, while USDJPY has gone up to 107.70, hinting at limited demand for safe havens. With emerging markets and commodities generally stable, dollar growth does not seem to derive from economic growth fears. Yet, concerns about the U.S. budget deficit, coupled with potential rate hikes, suggest challenges in the dollar’s future. Nonetheless, the ...

The FxPro Analyst Team

FxPro Forex Analysis: Casual Miners Are Leaving the Crypto Market

The cryptocurrency market is recovering, with Bitcoin and the market, in general, attracting increasing demand. According to CoinMarketCap, total market capitalisation has reached $510 billion, with the benchmark currency trading near $11,500 (+8.51%) in the last 24 hours, Ethereum trading near $950 (+2.14%), and Ripple around the $1.15 level (+1.17%). Investor demand is increasing as the end of the Lunar New Year on February 21 draws closer, with greater market momentum expected once Asian ...

The FxPro Analyst Team

FxPro Forex Analysis: Market Optimism Helps Cryptocurrencies

Bitcoin is on the rise, nearing the $10,000 mark. A move beyond would likely see the benchmark cryptocurrency, as well as the crypto market in general, gain significant momentum. According to CoinMarketCap, Ethereum has gained more than 9% in the last 24 hours, trading at $950, while Ripple grew by 10% to $1.16. Bitcoin Chart Positive news and the return of risk-on sentiment across global markets have strengthened the demand for cryptocurrencies, while the weakening of the dollar and the ...

The FxPro Analyst Team

FxPro Forex Analysis: Cryptocurrency Market Drops After Stock Markets Plunge

Stock indexes are experiencing record declines after Monday’s market-wide bloodbath, with Asian indexes having lost more than 10% over the last few days. Traditionally, the cryptocurrency market often exceeds stock exchange dynamics and is also, now, in decline. According to CoinMarketCap, Bitcoin lost roughly 24% in the last 24 hours, now trading at around $6,200. Drawdown experienced by other altcoins has reached 30%. Bitcoin Chart Negative news and stop-outs seem only to strengthen this ...

The FxPro Analyst Team

FxPro Forex Analysis: Key Economic Data Events – Week 05/02 – 09/02

Monday 05th February at 01.45am GMT – China Caixin services PMI (January), which is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 400 private service sector companies. The panel has been carefully selected to accurately replicate the true structure of the services economy. The previously published number for December was 53.9. Markets that could be impacted by this data release are Chinese and other Asian Equity markets and CNY currency ...

Alexander Kuptsikevich

FxPro Forex Analysis: Yellen’s Departure – A New Era in U.S. Monetary Policy?

On Wednesday, Janet Yellen held her last FOMC meeting as Chair of the Federal Reserve. On Saturday, February 3, Jerome Powell will officially take over as the new head of the most powerful central bank in the world. During Yellen’s 4-year term, the Fed smoothly moved from an extraordinary stimulus policy to raising rates and starting a programme of winding down the balance sheet of the Central Bank. One of Yellen’s major advantages was an increase in policy transparency, together with her ...

The FxPro Analyst Team

FxPro Forex Analysis: Bitcoin May Surge After the Chinese New Year

Experts are pointing to the Chinese New Year, which takes place on February 16, as one of the reasons behind the current correction being seen in the cryptocurrency market, and in Bitcoin’s price in particular. Past statistics confirm that, in the 4-6 weeks before the Chinese New Year celebrations, investors tend to focus on fiat money, causing the cryptocurrency market to decline. It is worth mentioning that Bitcoin largely reflects the tendencies of the cryptocurrency market in general, ...

The FxPro Analyst Team

FxPro Forex Analysis: Finding a Successful Cryptocurrency Project Becomes All the More Difficult

Today, January 26, the first batch of Bitcoin futures on CME expires. For the second time in a week, the cryptocurrency market enters correction. According to CoinMarketCap, Bitcoin has dropped below $11,000, trading at around $10,500. With its market capitalisation at 180 billion USD, it seems that BTC is gravitating towards $10K. While some investors have secured their profits, others expect the cryptocurrency to fall further before they enter the market, causing a further decline in price. ...

The FxPro Analyst Team

FxPro Forex Analysis: Crypto Anonymity May Soon Be Banned

The cryptocurrency market is in the red. According to CoinMarketCap, Bitcoin is currently trading near $10K, down by about 11%. Leading altcoins have on average experienced similar losses. Much like last week, this week commenced with corrections. Experts note that the current dynamic relates to Wall Street trading, with Bitcoin futures on the CME expiring on January 26. Most members of the community perceive the situation as an opportunity to buy tokens while in decline. South Korea intends ...