Forex Analysis
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EUR/USD turns negative near 1.0760
The sudden bout of strength in the Greenback sponsored the resurgence of the selling pressure in the risk complex, dragging EUR/USD to the area of daily lows near 1.0760.
GBP/USD comes under pressure and challenges 1.2500
GBP/USD now rapidly loses momentum and gives away initial gains, returning to the 1.2500 region on the back of the strong comeback of the US Dollar.
FXS SIGNALS
Deeper dive
Like there’s no tomorrow: Unpacking consumer credit
The recent run-up in revolving debt combined with the much higher financing costs raises doubts about the ability of credit to continue to make up for the shortfall between modest real income growth and aspirational spending.
Inventories are quiet, a little too quiet
The economy is in the midst of an unusually calm stretch with respect to inventory investment. It is like the point in the scary movie when someone points out that all the forest creatures have gotten quiet.
Softer growth, cooler inflation and rate cuts remain on the horizon
Economic growth in the United States appears to be in solid shape. Although real GDP growth came in well below consensus expectations and amounted to just 1.6% annualized in Q1-2024.
upcoming calendar events
REAL-TIME RATES
CRYPTO KEYS
Ethena plans to leverage USDe to integrate DeFi, CeFi and traditional finance
Ethena (ENA), a protocol developed on the Ethereum blockchain offering a synthetic stablecoin (USDe) that operates across various DeFi applications, announced on Friday that itsUSDe will integrate DeFi, CeFi and traditional finance as part of its 2024 roadmap.
XRP hovers above $0.50 as Ripple joins alliance to simplify recovery of digital assets
XRP trades around $0.5174 early on Friday, wiping out gains from earlier in the week, as Ripple announced it has joined an alliance to support digital asset recovery alongside Hedera and the Algorand Foundation.
Toncoin price surges as Notcoin gains attention across the crypto community
TON saw a brief rally on Thursday following a recent announcement that Binance and OKX will launch Notcoin (NOT) as the newest token on the Binance launchpool and the OKX Jumpstart.