The post Australian Dollar holds mid-0.6900s as weak USD meets Iran risks appeared on BitcoinEthereumNews.com.
The AUD/USD pair attracts buyers for the second straight day and climbs to a two-and-a-half-week top, around the 0.6970 area, during the Asian session on Friday. Spot prices, however, retreat a few pips in the last hour and currently trade around mid-0.6900s, still up 0.10% for the day. Against the backdrop of Wednesday’s less hawkish FOMC Minutes, hopes for diplomacy to ease tensions in the Middle East drag the safe-haven US Dollar (USD) to an over one-week low and act as a tailwind for the AUD/USD pair. US President Donald Trump told reporters on Thursday that Iran had called to make a deal with the US. Furthermore, a White House official signaled that the US is still committed to the memorandum of understanding with Iran as technical talks over Tehran’s nuclear program and the Strait of Hormuz continue. However, the geopolitical risk premium remains in play amid renewed fig
The post Why are Oil prices taking a breather after rallying earlier this week? appeared on BitcoinEthereumNews.com.
West Texas Intermediate (WTI) Oil futures on NYMEX trade slightly lower to near $71.50 during the European trading session on Friday. The Oil price extends its correction after posting a fresh over two-week high at $75.73 on Wednesday. The black gold has come under pressure amid signs of de-escalation in the restart of the war between the United States (US) and Iran. Earlier in the day, a US official confirmed that technical talks with Iran continued, despite President Donald Trump declaring that the memorandum of understanding (MoU) with Tehran is over. US President Trump also said late Wednesday that he had a conversation with Iran, adding that the nation wants the deal badly. However, he doesn’t believe that Iran would honor the deal, CNBC reported. Meanwhile, the downside in oil prices will likely remain limited, as the exchange of attacks between the US and Iran are
The post Oil: Brent retraces gains on fragile ceasefire – Rabobank appeared on BitcoinEthereumNews.com.
Rabobank strategist Molly Schwartz notes that Brent Oil traffic through the Strait of Hormuz remains constrained despite a nominal ceasefire between the US and Iran. War insurance costs have risen sharply and shipowners are being advised to pause Hormuz voyages. Brent crude briefly traded above $80/bbl before retracing to around $76/bbl as markets stayed optimistic. Hormuz risks and Brent price swings “According to Bloomberg, the Joint Maritime Information Center said that traffic through the Strait remains at “reduced levels,” (around 24% of pre-war transit) even though US-assisted vessel transits have been largely uninhibited.” “Reuters reports that “some war insurers advise shipowners to pause Hormuz voyages after attacks,” adding that “war insurance for ships inside the Gulf has already ticked higher towards 3% of a vessel’s value, up from 2% at the end of last week.” Meanwhile,
The post United States Dollar Index extends losses as US and Iran attempt to resume talks appeared on BitcoinEthereumNews.com.
The US Dollar Index (DXY) is trading lower for the third consecutive day on Friday. A tense calm in Iran and news that mediating countries are working to bring Washington and Tehran back to the negotiating table are allowing a mild appetite for risk and weighing on the safe-haven US Dollar (USD). The Dollar Index, which measures the value of the Greenback against a basket of six peers, is trading at 100.75 at the time of writing after bouncing from levels a few pips shy of the last three weeks’ low of 100.56. US and Iranian forces have paused the tit-for-tat strikes launched over the previous two days while Qatar and Pakistan work to resume the peace process. A US official cited by CNN affirmed earlier on Friday that the US has been striking and then pausing deliberately to avoid escalation and let diplomacy work. The rebound in oil prices benefits the USD Tra
The post Silver Price Forecast: XAG/USD rises as oil prices correct, US Dollar faces pressure appeared on BitcoinEthereumNews.com.
Silver price (XAG/USD) trades 0.4% higher to near $60.22 during the European trading session on Friday. The white metal gains as the US Dollar (USD) continues to remain under pressure amid hopes that the restart of the war between the United States (US) and Iran won’t long last. At press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.17% lower to near 100.76. The DXY fell further during the day to near its three-week low at around 100.60. Technically, a lower US Dollar makes the Silver price a favorable risk-reward bet for investors. Earlier in the day, a US official confirmed that technical talks with Iran remained continued, despite President Donald Trump declaring that the memorandum of understanding (MoU) with Tehran is over. Late Wednesday, US President Trump said that he had a conversation wi
The post Bitcoin (BTC) Eyes Critical $64,700 Level as Traders Monitor Daily Close appeared on BitcoinEthereumNews.com.
TLDR BTC recovered above the $63,000 mark with approximately 1.5% gains following Trump’s statement about Iran seeking negotiations Market participants are closely monitoring $64,700 as a critical daily closing threshold that could trigger a substantial relief rally Short position liquidations in the cryptocurrency market reached approximately $100 million over a 24-hour period Blockchain analytics reveal short-term holder losses matching patterns typically observed near historical cycle bottoms Large-scale holders accumulated 10,000 BTC during the current month, suggesting an accumulation period may be underway Bitcoin pushed back above the $63,000 threshold this Thursday following remarks from US President Donald Trump indicating that Iran is seeking diplomatic engagement. The leading cryptocurrency posted gains of roughly 1.5% during the trading session. Bitcoin (BT
The post Pound Sterling Price News and Forecast: GBP gains ground to near 1.3430 early European session appeared on BitcoinEthereumNews.com.
The GBP/USD pair trades in positive territory around 1.3430 during the early European trading hours on Friday. The UK government leadership transition and growing expectations of further Bank of England (BoE) interest rate hikes underpin the British Pound (GBP) against the US Dollar (USD). Andy Burnham’s path to becoming the next UK prime minister looks certain after a vast majority of Labour MPs formally nominated him to be the next party leader. Bloomberg reported on Thursday that 322 of 403 Labour members of Parliament voted for Burnham at the end of the first day of the party’s leadership contest to replace Keir Starmer. Burnham is expected to formally become Prime Minister on July 20. Read more… British Pound gains traction above 1.3400 as markets bet on BoE rate hikes The GBP/USD pair gathers strength to around 1.3430 during the Asian tradin
The post Indian Rupee gains further as US Dollar extends decline appeared on BitcoinEthereumNews.com.
The Indian Rupee (INR) extends Thursday’s recovery against the US Dollar (USD) in the opening session on Friday. The USD/INR pair falls further to near 95.22 as the US Dollar weakens as the restart of the war in the Middle East between the United States (US) and Iran won’t be prolonged. However, the Indian Rupee could show signs of weakness as oil prices remain higher. As of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.3% lower to near its three-week low of 100.60. The DXY extends its losing streak for the third trading day on Friday. US confirms technical talks with Iran are still on According to The Times of Israel, a US official has confirmed that technical talks with Iran remain ongoing, even as President Donald Trump has declared that the Memorandum of Understanding (MoU) with Tehran is over. Also, US President Trump
The post EUR/USD Forecast: Holds near weekly top as bulls battle 23.6% Fibo. appeared on BitcoinEthereumNews.com.
The EUR/USD pair attracts some buyers for the third consecutive day and touches a fresh weekly high, around the 1.1460 area, during the Asian session on Friday. The US Dollar (USD) is seen prolonging the less hawkish FOMC Minutes-inspired slide and turning out to be a key factor acting as a tailwind for the currency pair. However, persistent geopolitical uncertainties help limit further USD losses and cap spot prices. From a technical perspective, the EUR/USD pair, so far, has been struggling to find acceptance or build on its strength beyond the 23.6% Fibonacci retracement level of the April-June downfall. Moreover, the recovery from the year-to-date low has been along an upward-sloping channel, which now seems to constitute the formation of a bearish flag pattern, leaving the recent gains capped within the broader corrective structure. Momentum indicators, however, remain
