Traditional markets quiet, bitcoin making moves
It’s been relatively calm in traditional markets. Currencies are flat, stocks are steady, and commodities are consolidating.
Meanwhile, cryptocurrencies are heating up, with Bitcoin making a push back towards its record high from earlier this year.
Gold is holding just under record highs, and oil is consolidating after another sharp drop at the start of the week—two very different stories in the commodities space.
On Tuesday, Japan’s Akazawa commented on the yen’s weakness, noting that authorities are closely monitoring the political landscape. Additionally, reports indicate Japan’s Prime Minister may seek support from the opposition Democratic Party to form a partial coalition.
In the Eurozone, German consumer confidence showed strength, while in the UK, mortgage approvals reached their highest level since the fallout from the mini-budget of 2022.
Looking ahead, key releases include the Bank of Canada’s MPR, Canadian wholesale sales, the U.S. goods trade balance, Case-Shiller house prices, JOLTS job openings, and consumer confidence data.
Exclusive FX research from LMAX Group Market Strategist, Joel Kruger
Meanwhile, cryptocurrencies are heating up, with Bitcoin making a push back towards its record high from earlier this year.
Gold is holding just under record highs, and oil is consolidating after another sharp drop at the start of the week—two very different stories in the commodities space.
On Tuesday, Japan’s Akazawa commented on the yen’s weakness, noting that authorities are closely monitoring the political landscape. Additionally, reports indicate Japan’s Prime Minister may seek support from the opposition Democratic Party to form a partial coalition.
In the Eurozone, German consumer confidence showed strength, while in the UK, mortgage approvals reached their highest level since the fallout from the mini-budget of 2022.
Looking ahead, key releases include the Bank of Canada’s MPR, Canadian wholesale sales, the U.S. goods trade balance, Case-Shiller house prices, JOLTS job openings, and consumer confidence data.
Exclusive FX research from LMAX Group Market Strategist, Joel Kruger
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