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Bitcoin, crypto market fall as hot US inflation triggers $700 million in liquidations
Bitcoin (BTC) declines toward $73,000 on Tuesday following October's hotter-than-expected US Consumer Price Index (CPI) report, which triggered renewed concerns about the Federal Reserve's (Fed) interest rate outlook.
Tue, Nov 10
USD/CHF Price Forecast: RSI turns bullish as 0.8300 comes into view
The USD/CHF climbed on Tuesday during the North American session, up 0.74%, as hawkish comments by Federal Reserve (Fed) officials and a high US inflation report bolstered the US Dollar amid growing expectations of a Fed rate hike in December.
Tue, Nov 10
Forex Today: Focus shifts to ECB-speak and German inflation
The US Dollar (USD) has regained strong upside traction, retracing a big chunk of Monday’s pullback as investors have started to reprice another potential rate hike by the Federal Reserve in December, particularly following October inflation data.
Tue, Nov 10
Gold crashes toward $4,000 as hot US inflation sends Treasury yields above 5%
Gold (XAU/USD) tumbles during the North American session on Tuesday as Federal Reserve (Fed) officials were hawkish, expecting further tightening following the release of a red-hot inflation report in the United States (US).
Tue, Nov 10
Silver Price Forecast: XAG/USD slides as US CPI tops estimates
Silver (XAG/USD) comes under heavy selling pressure on Tuesday as stronger-than-expected US inflation lifts the US Dollar (USD) and pushes US Treasury yields higher. At the time of writing, XAG/USD trades around $51.23, down 3.97% on the day.
Tue, Nov 10
Japanese Yen falls as US CPI beats forecasts and Fed officials back further rate hikes
USD/JPY strengthens on Tuesday as stronger-than-expected US inflation and hawkish remarks from Federal Reserve (Fed) officials lift demand for the US Dollar (USD). At the time of writing, the pair trades around 158.76, up 0.55% on the day.
Tue, Nov 10
Fed’s Logan sees two more hikes, flags faster winter tightening
Dallas Federal Reserve (Fed) President Lorie Logan said on Tuesday the Fed will need at least two additional 25-basis-point rate hikes, adding that the Fed is 50 basis points below a “modestly restrictive level.”
Tue, Nov 10
Bitcoin vs Gold Outlook: BTC and XAU pull back as US inflation rises in October
Bitcoin (BTC) and Gold (XAU/USD) sustain a broad bearish trend on Tuesday, with BTC hovering around $74,000 and XAU near $4,050. The path of least resistance remains downward for both assets, weighed down by weak technical structures and macroeconomic uncertainties.
Tue, Nov 10
ECB’s Nagel calls December rate hike obvious despite energy relief
In an interview with Bloomberg TV, Bundesbank President Joachim Nagel, also a member of the European Central Bank (ECB) Governing Council, said that “it is rather obvious that we have to increase in December,” cementing the case for a rate hike next month.
Tue, Nov 10
British Pound falls below 1.34 as hot CPI puts 50-bps Fed hike in play
The Pound Sterling dives over 0.40% against the US Dollar on Tuesday as US inflation suggests the Federal Reserve’s (Fed) job is not done.
Tue, Nov 10
Canadian Dollar comes under pressure as US CPI reinforces hawkish Fed outlook
USD/CAD climbs to its highest level since October 16 on Tuesday as stronger-than-expected US inflation lifts the US Dollar (USD), while falling Oil prices amid hopes for US-Iran diplomacy add further pressure on the Canadian Dollar (CAD).
Tue, Nov 10
Euro slips below 1.1200 as hotter US inflation fuels Fed rate hike bets
EUR/USD extends its decline on Tuesday, trading around 1.1190, down 0.28% on the day at the time of writing.
Tue, Nov 10
United States Consumer Price Index Core s.a came in at 339.9, above forecasts (0) in October
Tue, Nov 10
United States Consumer Price Index (MoM) above forecasts (0.3%) in October: Actual (0.4%)
Tue, Nov 10
25 basis points is the unanimous call for December Fed hike – Reuters poll
All 101 economists in a Reuters poll conducted November 6-10 expect the Federal Reserve (Fed) to raise interest rates by 25 basis points on December 9, taking the target range to 4.00%-4.25%.
Tue, Nov 10
United States ADP Employment Change 4-week average came in at 19.75K, above forecasts (0K) in October 17
Tue, Nov 10
GBP/USD Price Forecast: Pound bulls fail to find follow-through above 1.3450
The British Pound (GBP) is trimming some gains on Tuesday, with the US Dollar (USD) drawing support from hawkish comments by the Federal Reserve (Fed) Governor, Christopher Waller, earlier in the day.
Tue, Nov 10
Australian Dollar slips toward 0.6900 as Fed rate hike expectations rise
AUD/USD trades around 0.6905 on Tuesday, down 0.31% on the day at the time of writing, as the Australian Dollar (AUD) loses some ground against the US Dollar (USD) following Monday's strong rebound.
Tue, Nov 10
“Balance of risks to inflation remains to the upside” – BoE’s Lombardelli
Bank of England (BoE) Deputy Governor Clare Lombardelli warned that high energy costs could keep inflation elevated, speaking at the Bank of England Watchers’ Conference in London on Tuesday.
Tue, Nov 10
UK Gilts: Relative gains after Budget – Deutsche Bank
Deutsche Bank Research, in a note by Shreyas Gopal, Sanjay Raja and Maui Brennan, highlights that 10-year UK gilt yields have declined notably since the Autumn Budget, helped by lower Oil prices and higher equity volatility.
Tue, Nov 10