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10/06/21 10:53
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Hey fellow traders! I wanted to share my excitement about the recent upward momentum in the AUD/USD pair and discuss our potential strategy moving forward. Despite some challenges faced by the pair, such as difficulties in maintaining its rally above 0.6680, there are promising factors to consider. Firstly, the unexpected interest rate hike by the Reserve Bank of Australia (RBA) has triggered this impressive rally. Governor Philip Lowe's decision to raise the Official Cash Rate (OCR) by 25 basis points to 4.10% demonstrates the RBA's confidence in the Australian economy, despite lower-than-desired inflation levels. Moreover, the narrowing policy divergence between the RBA and the Federal Reserve (Fed) has provided further support. While uncertainties surrounding the June monetary policy meeting by the Fed have influenced market sentiment, the AUD/USD pair remains resilient. Another interesting development is the AUD/USD's sharp recovery, defying the breakdown from its consolidation range of 0.6563-0.6808 on a daily basis. Surprisingly, the Australian dollar has experienced minimal selling pressure, contributing to this notable rebound. As we navigate these exciting market dynamics, I believe a trend-following strategy could be advantageous in capitalizing on the upward movement. Let's stay vigilant and capitalize on the opportunities presented by this bullish momentum. Happy trading, everyone! -
Anyone got any thoughts on a decent MOney Market ETF to buy which is liquid and easy to understand. Got some money sitting around here which needs to be put to use? Thank you for anyones time in responding -
The US Securities and Exchange Commission (SEC) has sued cryptocurrency platform Coinbase the second lawsuit in two days against a major crypto exchange. Angeline Ong | Presenter, Analyst and Content Editor, London | Publication date: Wednesday 07 June 2023 IGTV’s Angeline Ong takes a look at the differences between the SEC’s crackdown on Binance and Coinbase, and why this could be a gamechanger for the crypto industry. (Video Transcript) SEC cracks down on cryptos The crypto crackdown is escalating as the SEC has issued a lawsuit against Coinbase, the second in two days against a major crypto exchange. Now on Monday, the SEC targeted Binance, the world's largest cryptocurrency exchange. The two cases are of a different nature though with the SEC accusing Binance and its CEO, Chang Ping Tao of operating a "web of deception", while with Coinbase, the regulator considers it is operating illegally because it failed to register as an exchange. Now, if successful, these lawsuits could trigger a major change in the crypto world, asserting the SEC's jurisdiction over it. So far, the industry's argument is that tokens do not constitute securities and should not be regulated by the SEC. Coinbase share price chart Just checking in on Coinbase, which is on all-session stock on IG. It fell almost 10% in the previous session.
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