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USD/CAD advances 0.05% to 1.3551, buoyed by investor concerns over China’s shadow bank and real estate crises. US retail sales exceed expectations, supporting the Fed’s stance on maintaining restrictive monetary policy. Canadian July Producer Prices rebound with a 0.4% rise, driven by surges in oil and lumber prices. USD/CAD prepares to finish the week on
XAU/USD recovered towards $1,890, still poised for a weekly decline. China’s real state giant Evergrande filed for bankruptcy protection in a US court. Lower US yields amid risk aversion benefits Gold prices. At the end of the week, the XAU/USD Gold spot slightly recovered to $1,890, but it is still poised for a 1% weekly decline
Binance Coin price has been in a multi-year consolidation since February 2021. As BNB slips below the $221 support level that has held for more than two years, the probability of a further decline increases. A breakdown of $221 followed by a flip of the $186 support level will add confirmation to this bearish outlook
The Federal Reserve has clamped down on Farmington State Bank, an affiliate of Sam Bankman-Fried’s FTX Group. The regulator is looking into an $11.5 million investment into the financier, injected by Alameda Research for a non-controlling stake. The bank is criticized for breaking operational terms to start dealing in crypto-related offerings. The Federal Reserve has
Global market sentiment is cautious, with equities declining and bond yields rising, as investors anticipate further monetary tightening by central banks. July’s Fed minutes reveal a unanimous decision for a rate hike but growing caution among board members about potential over-tightening. US data: Initial Jobless Claims slightly better than expected at 239K; Philadelphia Fed Manufacturing
XAG/USD surged to a daily high of $23.00 and settled near $22.60. DXY rose to its highest level since January at 103.60. The US 10-year benchmark Treasury yield rose to October 2022 highs. On Thursday, the XAG/USD seems to be correcting oversold conditions rising to $23.00 and settling at $22.60. That said, hawkish bets on