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The halving (reduction of block mining rewards) is expected to occur on April 19-20. Theoretically, Bitcoin mining will become less profitable, leading to a reduction in coin supply. Given unchanged demand, this should drive up the BTC/USD price. Ripple CEO Brad Garlinghouse has forecasted that the cryptocurrency market cap will double by the end of […]

The post BTC/USD Analysis: Bitcoin Price Rises Ahead of Halving appeared first on Action Forex.

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03/04/2024

Stars Aligned for Dollar Yesterday, But Greenback Succumbed

Markets German Bunds opened softer yesterday in a catch-up move with the US Treasury sell-off on (Easter) Monday. Selling pressure remained until the start of US trading despite lower-than-expected German CPI data and a slight fall in short-term (1-yr) inflation expectations in an ECB Survey. Both cement the case for a (discounted) June ECB rate […]
10/04/2024

All Eyes Turn to US March CPI Today

Markets The payrolls-effect on core bond yields faded ahead of the important US CPI figures scheduled for release today. US Treasuries recovered, pushing yields between 4.7 and 6.2 bps lower. German rates dropped 3.9 (2y) to 7 bps (30y) with the ECB’s Bank Lending Survey strengthening the case for a June rate cut. That said, […]
07/12/2023

Japanese Yen Outperforms This Morning

Markets Yesterday’s slightly disappointing US ADP job report reverberated through the long end of the yield curve in particular. Maturities from 10 year to 30 year shed between 6.1 and 8.9 bps. The 10-y tenor dropped below support at 4.13% (50% retracement on the 2023 rise) but held above the next reference that pops up […]