Serbian Dinar weakens

As a result of the Fed’s aggressive rate hikes, Serbian Dinar hits an all-time low against the US Dollar. USD/RSD rose 0.62% to 121.6800 from 120.9300 in the previous trading session.

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CNY gains strength πŸ’ͺ

USD/CNY dropped by 2.5% and is closing in on a price of 7. A few weeks ago, the currency pair failed to rise above resistance from early 2020, and it is now accelerating downward. The move is being led by a weak dollar and China’s softened stance toward COVID.

EUR/USD reaches 1.05 πŸ‘€

EUR/USD topped $1.05 to start the December month, a level not seen since June. The currency pair extended a 5.3% gain in November, which was its best month since September 2010. The EUR/USD has benefited from the drop in the USD as investors bet the Fed will slow the pace of interest rate hikes.

USD/JPY slides lower πŸ“‰

USD/JPY dropped by more than 1.2% below an important support level of 137.6. This is after Powell’s dovish speech, which weakened the US dollar. USD/JPY is down 10% from its peak in late October.

CAD weakens after GDP results

The Canadian dollar weakened aboveΒ $1.35β€”a level not seen since early November after the GDP results. The Canadian economy increased by 2.9% annually in Q3Β of 2022, beating expectations for a modest 1.5% growth.

US dollar continues downward πŸ“‰

On Monday, the dollar fell against a group of major currencies and is closing in on a price of 105. This is the lowest level since August, as investors reevaluated the outlook for growth and monetary policy. Fed’s possible slow down of rate hikes is currently driving the dollar pullback.

GBP/USD jumps above 1.2100 πŸ“ˆ

GBP/USD climbed above $1.2100, a level not seen in more than three months. The dollar declined following the hint that the Fed would soon start reducing rate hikes sparked this move. The pound was already rising as investors were examining recent economic data while cheering Rishi Sunak’s and Jeremy Hunt’s economic plans.

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WTI oil rises after touching 1-year low

WTI crude oil jumped by 4% to $75.5, bouncing back from a one-year low of $71.8 from yesterday. Optimism about the Chinese economy reopening drives the commodity higher after it has been trending downward for several months.

BoC raises interest rates to 4.25%

The Bank of Canada (BoC) increased its key rate by 50 basis points, from 3.75% to 4.25%, in its final meeting of 2022. This rate hike brought borrowing prices to their highest level since 2008, up 4% since March. Policymakers affirmed that they would keep their tightening policy in the near future.

Tether created new stablecoin

Tether (USDT) as the largest stablecoin provider is expanding on Tron network by adding a Chinese Yuan. Bitfinex plans to be the first to offer Chinese Yuan stablecoin (CNHT) on its crypto exchange.

EU economy rises 0.3% in Q3

The economy of the Eurozone grew by 0.3% in the Q3 2022, which was a bit more than the initial estimate of 0.2%. This is 0.5% less than in the previous quarter as the economy grew by 0.8% in Q2.

WTI crude oil drops further

WTI crude oil fell almost 2% to $73, the lowest level reached since December 2021. Worries about weak global demand keep the bearish momentum going. The US and Europe, in particular, are seeing a drop in manufacturing activity because of tighter financial conditions.

RBI lifts interest rate by 35 bps

The Reserve Bank of India (RBI) raised its key interest rate by 35 basis points, from 5.9% to 6.25%. This was the fifth rate hike in a row, and it was widely anticipated. As a result of continuous rate hikes, inflation slowed to 6.7% in October, down from a high of 7.4% in September.


Bitcoin payment app Strike expands to Africa

Bitcoin payment app Strike expands to Africa

Strike and Bitnob will collaborate by using the Lightning Network to empower African nations with a better payment system.
USD/JPY at critical technical crossroads

USD/JPY at critical technical crossroads

The greenback is trying to recover from the recent selling pressure. However, it stays below previous lows, implying the weakness of bulls.
Does the crude oil bloodbath have an end?

Does the crude oil bloodbath have an end?

The inventories data from the US shows weaker demand for gasoline and crude oil. Black gold sinks under the $73 price tag.
Markets full of fear as data suggests recession is close

Markets full of fear as data suggests recession is close

US dollar faces selling on all fronts as data suggests there may be a recession coming soon. Markets all in red, except gold, which holds its value.