The post Gold: Price dip seen limited as PBoC buying continues – Commerzbank appeared on BitcoinEthereumNews.com.
Commerzbank’s Carsten Fritsch notes Gold fell to USD 4,120 per ounce after fresh Iranian attacks lifted TTF gas and Oil prices, but Fed rate expectations remain unchanged. He argues downside is limited, as the People’s Bank of China has bought Gold for 20 straight months, recently accelerating purchases and adding 33 tons over the last three months on the lower price environment. Chinese demand cushions recent weakness “The price of gold fell to USD 4,120 per troy ounce this morning following Iranian attacks on two cargo ships and an LNG tanker in the Strait of Hormuz. As a result, the TTF natural gas price rose significantly, and oil prices also edged up slightly, fueling inflation concerns.” “However, there was no change in Fed rate hike expectations. The market continues to anticipate interest rate hikes by the Fed of around 30 basis points by the end of the year. As a r
The post Swiss Franc eases as hawkish Fed outlook supports US Dollar appeared on BitcoinEthereumNews.com.
USD/CHF holds modest gains on Tuesday as traders balance softer US labor market data against hawkish Federal Reserve (Fed) expectations, keeping the US Dollar (USD) range-bound. At the time of writing, the pair is trading around 0.8066, remaining on the front foot for a second consecutive day. Recent US labor market data have come in softer than expected, pointing to a gradual cooling after showing signs of improvement earlier this year. The four-week average of the ADP Employment Change eased to 21K from 24.25K. This follows last week’s disappointing June Nonfarm Payrolls (NFP) report, which showed the US economy added just 57K jobs, well below market expectations of 110K. The softer labor market data have prompted traders to scale back expectations of a near-term Fed rate hike. However, Fed officials continue to stress that inflation remains a concern. New York Fed President John
The post Oil: Gulf supply recovery challenges oversupply narrative – Commerzbank appeared on BitcoinEthereumNews.com.
Commerzbank’s Carsten Fritsch highlights a rapid recovery in Gulf oil production and exports following the US–Iran agreement, with Brent moving into contango and Saudi Arabia slashing its OSP for Asian buyers. Despite sharply higher observed flows, Fritsch argues that mine clearance, restricted tanker traffic and stock replenishment needs mean the Oil market is unlikely to face a genuine oversupply in the short term. Gulf output rebounds but risks linger “Price signals also suggest that oil supplies have risen more sharply than the official data indicate. This is because the front end of the Brent forward curve is in contango. Initially, only the first two futures contracts were affected.” “Last week, however, the contango structure extended to the first four contracts. Another indication could be Saudi Arabia’s sharp cut in the official selling prices (OSP) for August.
The post Why Institutional Capital Is Becoming More Selective in Crypto appeared on BitcoinEthereumNews.com.
The latest KuCoin Ventures Weekly Report highlights an important shift in institutional behavior between June 22 and 28. On the surface, market conditions offered little reason for optimism. Tightening financial conditions, sticky inflation, a hawkish Fed, and a seventh straight week of Bitcoin ETF outflows should have sent institutional capital for the exits. However, institutional positioning suggested otherwise. Instead, the week’s developments pointed to a different trend. Investors became far more selective, moving toward sectors with real yield, real fundamentals, and real utility rather than fleeing altogether. Three areas absorbed most of that attention: real-world assets (RWAs), DeFi lending, and prediction markets. Aave deepened its footprint in institutional on-chain lending, Kraken emerged as a possible buyer into that same infrastructure, and prediction markets kept
The post Canadian Dollar steady as trade surplus, Fed outlook cap USD/CAD appeared on BitcoinEthereumNews.com.
USD/CAD trades around 1.4205 on Tuesday at the time of writing, virtually unchanged on the day, as investors balance encouraging Canadian economic data against a US Dollar (USD) that remains supported by monetary policy expectations and ongoing geopolitical tensions. Canada released stronger-than-expected trade figures. Merchandise exports rose 0.9% in May, while imports edged down 0.2%, allowing the trade surplus to widen to CAD$4.24B from an upwardly revised CAD$3.41B in April. This marks Canada’s third consecutive monthly trade surplus. Meanwhile, the Ivey Purchasing Managers Index (PMI) eased to 59.7 from 61.3 but remained firmly in expansion territory, signalling that economic activity continues to grow. Despite the upbeat domestic data, the Canadian Dollar (CAD) struggles to gain traction, although higher Oil prices are providing some support. West Texas Intermediate (WT
The post Aluminium: Short supply supports prices despite Gulf outages – Commerzbank appeared on BitcoinEthereumNews.com.
Commerzbank’s Barbara Lambrecht says Aluminium’s recent correction has likely run its course, with prices rebounding as Chinese and LME inventories fall sharply and Gulf smelter outages persist. The Australian Ministry expects primary Aluminium to be significantly undersupplied this year and next, though longer term it sees strong non-Chinese capacity growth, especially in Indonesia, tempering the structural outlook. Tight market now, capacity boom later “Stocks could fall below 900 Tsd. tons this month. Aluminium stocks registered on the LME have also been falling significantly since the end of October and have dropped below 300 Tsd. tons for the first time since October 2022.” “Also, in its latest market outlook, the Australian Department of Resources and Energy considers price levels in the market to be well supported. Whilst China has partially offset production
The post Euro holds steady as traders assess Fed and ECB interest rate paths appeared on BitcoinEthereumNews.com.
EUR/USD trades in a narrow range on Tuesday as traders await greater clarity on the Federal Reserve’s (Fed) and European Central Bank’s (ECB) interest rate paths. At the time of writing, EUR/USD is trading around 1.1436, little changed on the day. Inflation risks have moderated as Oil prices have fully unwound their US-Iran war-driven rally following last month’s interim peace agreement, which reopened shipping through the Strait of Hormuz. However, policymakers on both sides of the Atlantic continue to signal that monetary policy is likely to remain restrictive in the coming months, with inflation running above their respective 2% targets. ECB Governing Council member Fabio Panetta said on Tuesday that the “outlook remains fragile,” adding that “upside inflation and downside growth risks remain.” ECB Governing Council member Pierre Wunsch said on Monday that “it seems that
Central banks' shift from the US dollar signals a move towards a multipolar monetary system, with increased reliance on gold and the euro.
The post OMFIF survey shows central banks planning to cut US Dollar exposure for first time ever appeared first on Crypto Briefing.
The post Bitcoin Holds Near $63K as Coffee Outshines Crypto and Gold appeared on BitcoinEthereumNews.com.
Bitcoin News Bitcoin (BTC) traded quietly this week even as the single best trade across global markets came from an unlikely place: the coffee aisle. While Bitcoin and gold absorbed most of the attention, arabica coffee delivered a move neither could match, jumping in one session by a margin that dwarfed the crypto majors. For traders tracking Bitcoin as a macro barometer, the contrast is instructive: the flagship digital asset posted a steady but modest advance, while a soft commodity staged one of the largest daily rallies of the century, underscoring how rotation into hard assets is reshaping this cycle. The commodity that stole the spotlight was arabica coffee, which surged 16.19% on Monday for its biggest single-day gain this century and closed at a 5.5-month high. Robusta contracts climbed 8.83% in the same session to a five-month peak. The advance lifted coffee futures roug
