Currency News

Forex Market: AUD/USD extends rebound from 2-year trough as RBA hints at June rate hike

AUD/USD rose for a third straight trading day on Tuesday, rebounding from last week’s 2-year low, after the Reserve Bank of Australia dropped a heavy hint that it would hike rates again next month. The minutes of the RBA’s May policy meeting, released on Tuesday, showed the central bank had considered a sharper rate hike […] Read more

Forex Market: USD/JPY extends gains as global growth concerns boost safe haven demand

USD/JPY extended gains from last Friday at the start of the new week, as investor concerns over global growth underpinned demand for safe haven assets. Those concerns were reflected by disappointing Chinese macro data, released earlier on Monday. China’s retail and factory activity shrank sharply in April due to full or partial lockdowns imposed in […] Read more

NFT traders grew 50% on a quarterly basis, trading record volumes despite a historic crypto market drop

NFT is yet another blockchain-based market that went through exponential growth in 2021, starting the second half of the year. This coincided with the memorable crypto all-time high of November 2021, but since then we’ve seen cryptocurrencies lose over 50% in value, with Bitcoin breaking the $30K support for a short while just recently. An […] Read more

Forex Market: AUD/USD trades near a fresh 22-month trough on global growth concerns

AUD/USD plunged to a fresh 22-month low on Tuesday, dragged down by investor concerns over slowing global economic growth. Global equity markets took a hit on Monday, with a sell-off led by mega-cap growth stocks sending NASDAQ down over 4%. Asian equities were also in the red on Tuesday, with Nikkei 225 down 0.58%, Hang […] Read more

Forex Market: USD/JPY hits a fresh 20-year peak supported by higher US interest rates, Ukraine conflict and China lockdown concerns

USD/JPY scaled a high unseen in over 20 years on Monday amid rising US interest rates and on concerns stemming from accelerating inflation, the military conflict in Ukraine, as well as from tighter COVID-19-related lockdown restrictions in Beijing and Shanghai. “Moves in U.S. interest rates are not the only dollar support,” NatWest Markets strategists wrote […] Read more

European crypto owners managed to earn a living by trading cryptocurrencies in 2021

With overall crypto trading volumes increasing over 500% in 2021, last year also brought record cryptocurrency gains for the average crypto investor. Researchers at TradingPedia combined multiple datasets to provide a thought-provoking view on the crypto profits dynamic. It turns out a significant amount of crypto investors started to earn enough to secure the necessities […] Read more

Forex Market: AUD/USD rebounds from a 13-week low as RBA hikes rates for the first time since November 2010

AUD/USD rebounded from a 13-week trough on Tuesday after the Reserve Bank of Australia lifted the cash rate by 25 basis points to 0.35% at its policy meeting earlier today and also flagged further tightening to come as it seeks to curb inflation. The hike move, which exceeded a consensus of analyst estimates, has been […] Read more

Record amounts of crypto stolen from DeFi platforms in Q1 of 2022

Use of Decentralized Finance has been on the rise throughout 2021 with an over 9-fold increase in DeFi transactions, compared to 2020. The race to reinstate the traditional financial services in the crypto space is a rapid one. It turns out it is also very perilous for the early adopters. 2021 saw a 1330% increase […] Read more

Forex Market: USD/JPY eases from a 20-year peak, dollar still supported by Fed rate hike expectations, China COVID worries

After hitting a 20-year trough of 129.408 on April 20th against the US Dollar, Japan’s Yen attempted a slight recovery at the start of the new week, with USD/JPY slipping below the 128.00 mark. Still, the greenback remained underpinned by aggressive US interest rate hike expectations that kept Treasury yields high and by concerns over […] Read more

Forex Market: NZD/USD rebounds from a 7-week low as RBNZ focuses on constraining inflation expectations, signals more rate hikes

NZD/USD rebounded from Monday’s seven-week trough of 0.6715 on Tuesday, after Reserve Bank of New Zealand Governor Adrian Orr said the bank remained focused on constraining inflation expectations and was ready to hike interest rates further in upcoming quarters. The RBNZ Governor said if the central bank raised interest rates too slowly there was a […] Read more