Bitcoin Surges Above $70,000 as US Election Looms, Memecoins Rally Bitcoin rose 3% to $70,053.56, nearing its all-time high, boosted by a rise in stocks. Dogecoin: +12% Shiba Inu Coin: +8% Crypto-Related Stocks: Coinbase: +3% MicroStrategy: +8%
US Economic 'Misery Index' at Historic Low Ahead of Election The Misery Index, which combines the unemployment rate and inflation rate, is at its lowest level in nearly 50 years for a presidential election. Implication for Kamala Harris: The low Misery Index is seen as positive news for
US oil inventories unexpectedly dropped by 2.1 million barrels last week. Market expectations had predicted an increase of about 1.8 million barrels. In the previous week, inventories had only decreased by about 0.5 million barrels. After the report, US West Texas Intermediate crude oil prices dropped 0.
Gold prices dropped significantly, now trading below $2,700 per ounce, with a total loss of over $80. The decline in gold prices followed Donald Trump's win in the 2024 US presidential election. Expectations of Trump introducing economic stimulus policies have boosted confidence in the US economy, increasing
US Presidential Election Update - 06/11/24 Trump's Statement: Donald Trump claims he will win the election if he secures Pennsylvania. Election Results: Arkansas: Donald Trump is projected to win. North Carolina (11% of votes counted): Trump: 45.9% Harris: 52.6% Market Reaction: The Dollar Index
US Presidential Election Update - 06/11/24 Harris Campaign Statement: Announcement of the presidential race winner could take days, with weeks of legal fallout expected. Election Results (Preliminary): Donald Trump (Republican): Won 15 states. Kamala Harris (Democrat): Won 7 states and Washington, D.C. Status: The election remains undecided
Commerzbank Predicts Gold Price Movements Based on US Election Outcome Commerzbank predicts gold to trade around $2,740/ounce, slightly retreating from record highs. If Donald Trump wins: Gold prices likely to rise due to higher inflation expectations and concerns over the independence of the US Federal Reserve. If Kamala
OPEC decided to delay its planned increase in oil production until after December. Haitham Al-Ghais, the OPEC Secretary General, mentioned there are challenges but believes the situation is not as bad as some think. He stated that the global economy is strong, and crude oil demand has not reached its
The dollar index dropped on Monday. Investors sold the dollar due to concerns about the US presidential election. Voting for the US election starts later today. High uncertainty is causing more selling of the dollar.
Labor Market Impact: October’s job data didn't hurt the dollar much. Unemployment Stable: The unemployment rate didn’t increase, so no shock there. Temporary Factors: The low job growth can be explained by temporary issues, so it doesn't suggest the labor market is collapsing. US
Factory orders in the U.S. decreased by 0.5% in September. This drop was worse than expected; the forecast was a 0.4% decrease. In August, factory orders had also declined, going down by 0.2%. Factory orders are an important indicator, as they show future demand for manufactured
EUR/USD Downtrend: Bears Eye Control as Resistance Holds EUR/USD is struggling to break above the 1.0900 resistance zone. A connecting trend line shows resistance at 1.0900 on the 4-hour chart. The pair is trading below both the 100 and 200 simple moving averages, indicating bearish sentiment.