The U.S. dollar falls for a 2nd day as banking crisis fears recede. Yen rebounds, Australian dollar, euro & sterling rise. U.S. dollar index drops 0.14%. Analysts believe despite recent drop, the dollar will remain strong due to interest rates & safety #USD#forex#ForexEconomics
Head of FX strategy at National Australia Bank, Ray Attrill, notes that the currency market's initial response has been "risk positive." With the yen weakening and the Aussie rebounding, this could signal future market sentiment and price movements. Stay tuned! #FX#marketupdate
EUR/USD sees gains as the new week kicks off positively, continuing a uptrend in early Europe. Major central banks' efforts to prevent liquidity issues and the UBS-Credit Suisse deal boosts market risk appetite. #EURUSD#forex#marketupdate#centralbanks#UBSCreditSuisse
The dollar slips as risk sentiment improves and authorities ease financial stress in major markets. Aussie and kiwi rise as $30B rescue package by US Treasury, Federal Reserve & banks calms markets after Credit Suisse's borrowing announcement. #financialnews#MarketUpdate#forex
Gold prices soar to 11-month high as safe-haven buying continues amidst US bank collapses and Credit Suisse liquidity crisis. TD Securities predicts bullish trend with potential for +8% growth. Fed expected to announce 25bp rate hike with focus on data dependence. #gold#FOMC
Rescue package for First Republic Bank brings relief to the market, and the Australian Dollar is benefiting by edging higher from four-month lows. While AUD/USD is still on the backside of the prior bear trend, it's showing signs of breaking out. #Forex#AUD#USD#ForexEconomics
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2nd bounce off the lower band of S2F model. Will S2F break? Or will this turn out to be an excellent buy signal? I know multiple hedge funds that actually trade this BTC-S2F "cointegration" (despite that we can't formally use cointegration tests because S2F ratio isn't random).
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#bitcoin oscilates in the dark blue band around S2F model value. Buying opportunities like today are rare (Q1 2019 when I wrote the S2F article, March 2020 due to covid, and now). Life is all about choices.
Actual #bitcoin price is at the lower bound of S2F model. Am I worried? No. Lower band is ~/2, upper band ~*2:
- upper band: $120k
- model price: $60k
- lower band: $30k
It is not OK if we stay at $32K for multiple months, but I expect BTC price to bounce back next days/weeks.
My personal opinion about current market. This is not investment advice: The bull market is certainly not over. We are in the period of the adjustment of bull market. June will build a steady trend. July and August will certainly start a new round of bull market.