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The surprise 25bp hike from the Bank of Canada (BoC) yesterday sent shockwaves across the financial markets. BoC decision to resume its rate hikes after a two-meeting pause and the surprise 25bp from the Reserve Bank of Australia (RBA) a day earlier fueled the central bank hawks around the world and boosted the Federal Reserve (Fed) rate hike expectations as well.
As a result, the US 2-year yield, which captures the Fed rate expectations is under a renewed pressure above the 4.50% mark, while the US 10-year yield is around 3.80%.
The TSX gave back 0.36% yesterday, the S&P500 rebounded...

The SEC comes in firing at cryptocurrencies and says 61 cryptos are deemed as securities. How much of it is true and how much weight does the SEC or the US still have in the crypto market?

00:00 Intro
00:24 Preview
00:42 Crypto-News
05:05 Crypto-Charts
08:12 New US-Legislation
09:41 Subscribe & Good bye

#crypto #cryptonews #cryptotrading #swissquote

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The SEC sued Coinbase, a day after it sued Binance for allegedly breaking US security rules. A 101-page complaint revealed how Coinbase allowed its users to trade tokens which were, in reality, unregistered securities in the US.
Coinbase dived 12% yesterday and is down by almost 30% since the start of the week, Binance Coin lost up to 10% while Bitcoin has fully recovered the Binance shock and barely reacted to Coinbase news.
In Europe, some good news from inflation front cheered up investors. Consumer expectations for the euro area fell significantly in April, a week after the Euro-area inflation...

Crude oil fully pared post-OPEC gains yesterday, as Saudi’s lonely production cuts and the quota transfer from African countries to UAE raised question about the hit-power and the health of the cartel.
As a result, the barrel of American crude fell below the $72pb mark. The risks are now tilted to the downside because the OPEC meeting was the major upside risk for oil bears and it’s cleared for now.
In equities, Apple revealed its much-expected VR headset yesterday, just after its stock price hit a record, but the $3500 headset failed to convince investors that it will be the...

The week kicked off with a jump in oil prices, after Saudi announced that it will cut its production by 1mbpd.
US crude gapped 3.5% higher on Monday open, while Brent crude traded past $78pb. But the rally remained short-lived, and below the peak reached after Saudi Prince bin Salman had told oil bears to watch out a couple of weeks ago.
Asian equities were mostly in the green this Monday, to catch up with the US session rally following Friday’s jobs data.
The US dollar remains well bid against most majors, as the EURUSD is offered into the 1.07...

The US Senate approved legislation to suspend the US debt ceiling through 2024, meaning that the US won’t default by next Monday. The bill now goes to President Joe Biden who will… sign it!
US yields fell and the dollar tanked on optimism that the US’ debt ceiling theater is over, and despite a big beat on ADP print.
The US dollar fell sharply yesterday, pushing the EURUSD back above the 23.6% retracement level on September to April rally. While I am not confident that we will see soft US jobs data, a softer-than-expected figure could encourage a further recovery....

While Solana is being touted as the Apple of crypto, ETH might be on a run to reach 51'000 USD on a bullish case. But are the analysts right?

00:00 Intro
00:24 Preview
00:36 Bitcoin
04:43 Ethereum
08:18 Solana
09:57 Subscribe & Good bye

#crypto #cryptonews #cryptotrading #swissquote

_____
Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr
_____
Discover our brand and philosophy: https://swq.ch/wq
Learn more about our employees: https://swq.ch/d5
_____
Let's stay connected:
LinkedIn: https://swq.ch/cH

The US dollar gained, and the euro fell yesterday, after data from the Eurozone countries showed a faster-than-expected easing in inflation, while the job openings data from the US hinted, yet again, at further resilience in the US jobs market.
As a result of softer European inflation and stronger US job openings data, the EURUSD fell as low as 1.0635 yesterday, and the yield spread between the German and US 10-year bonds fell to the lowest levels since the end of February. Softer euro weighs on European stocks.
On the political front, the US House cleared the debt limit bill...

The US 2-year yield fell sharply, while the S&P500 ended flat after hitting a fresh high since last summer on optimism that the US will finally agree to raise the debt ceiling.
The House will vote today to decide whether the debt limit bill gets approved at time to get a Senate approval by next Monday deadline.
But the problem is that at least 20 conservative Republicans of the House rejected Kevin McCarthy’s compromise on debt ceiling, saying that spending cuts are not enough.
Any misstep at today’s House vote could send the US yields higher and stocks lower.
So...

The holiday shortened trading week starts tense but on an optimistic note as US President Joe Biden and House Speaker Kevin McCarthy finally reached an agreement to raise the debt ceiling. The deal must get approval in a congressional vote on Wednesday.
Presently, it feels like investors are confident that the US debt ceiling will be raised. The kneejerk reaction to a debt ceiling deal will be positive but gains could remain short-lived.
The latest economic data suggested last Friday that US inflation didn’t ease as much as analysts expected in April
The data boosted odds that the Fed would...