Analysis

USD/CHF hovers around 0.8500 during the Asian session on Thursday, maintaining its position following recent gains from Wednesday.

In the last thirty days, the investment products were disappointing due to the continuous large outflows from Grayscale Ethereum Trust (ETHE) and the insufficient activity from the newly issued ETFs.

Investors remained bullish on emerging markets, an HSBC (LON:HSBA) survey showed, with Asian currencies being the most preferred asset class in the sector in the face of falling U.S. interest rates and yields. 

USD/CAD attracts fresh sellers on Wednesday amid a modest USD downtick.

Ethereum price started a downside correction from the $2,700 resistance. ETH is now above the $2,550 support and might aim for more gains.

Gold price remains steadily above $2,650 for the second straight session on Wednesdayas traders increased the odds for another big interest rate cut by the Federal Reserve (Fed) at the upcoming November meeting.

Solana (SOL) is now trading at a critical juncture following last week’s market surge. The token has climbed over 20% from its recent local lows, now testing a crucial supply level around $150. 

Federal Reserve Governor Adriana Kugler said on Wednesday that she “strongly supported” the Fed’s decision to cut the interest rates by a half point last week. Kugler further stated that it will be appropriate to make additional rate cuts if inflation continues to ease as expected, per Bloomberg.

The XRP price is still trading around the $0.6 threshold, and investors are anticipating an eventual breakout in the coming weeks.

EUR/USD pulled back on Wednesday, tumbling back through the 1.1200 handle and falling into familiar near-term congestion just north of 1.1100. Fiber shed nearly half of a percent after briefly setting a new 14-month high this week.

Bitcoin is climbing higher when writing, technically bullish but steadying below August highs. Even though there are pockets of strength and the general market sentiment is bullish, looking at the CoinMarketCap poll, buyers should do more.

The Bank of Japan (BoJ) board members shared their views on the monetary policy outlook on Thursday, per the BoJ Minutes of the July meeting.Members shared a view over the need for vigilance to the risk of inflation overshoot.

Ethereum has largely mirrored Bitcoin in terms of price action and has yet to break out on its own accord in the past few months. According to price data, Ethereum is up by 13% in the past seven days, outpacing Bitcoin’s increase of 5.8% in the same time frame.

PayPal announced on Monday that it would begin allowing business account users in the US to buy, sell and hold cryptocurrencies, excluding New York merchants.

As the altcoin season approaches, Cardano (ADA) is gaining momentum, having recorded more than a 14% increase in the past week, according to CoinMarketCap.

Bitcoin (BTC) could benefit from the People’s Bank of China’s (PBOC) decision to cut the reserve requirement ratio (RRR) by 50 basis points (bps).

Investing.com – U.S. equities were mixed at the close on Wednesday, as gains in the Utilities, Technology and Telecoms sectors propelled shares higher while losses in the Oil&Gas, Healthcare and Basic Materials sectors led shares lower.

The USD/JPY pair edges lower to near 144.60 during the early Asian session on Thursday. The weakening of the US Dollar (USD) amid rising bets on a jumbo interest rate reduction from the US Federal Reserve (Fed) in November continues to weigh on the pair.

Ethereum (ETH) price has outshined Bitcoin (BTC) over the last week since the US Federal Reserve (Fed) slashed interest rate by 50 basis points (bps) on September 18, 2024.

Japan equities were lower at the close on Wednesday, as losses in the Gas&Water, Fishery and Retail sectors propelled shares lower.