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Forex Today: Bitcoin flies to 35,000 $

Forex Today: Bitcoin flies to 35,000 $

Bitcoin has rallied sharply this week, as approval of the first Bitcoin ETF by US regulators is seen as imminent.

➡️ Bitcoin has been the top asset of the week so far, rallying sharply to hit $35,000 and hitting a new 5-month high. This will be interesting on the long side for trend traders. The increase was attributed to BlackRock's listing of its Bitcoin ETF on the Depository Trust & Clearing Corporation database, sparking intense speculation that the first Bitcoin ETF could soon be approved for retail investors.

➡️ In the Forex market, the USD/JPY currency pair continued to trade within a tight range just below the big round number of ¥150.00, after previously threatening a major bullish breakout towards new 20-year-plus highs. This also raised the prospect of intervention by the Bank of Japan. However, the US dollar weakened slightly yesterday. Since Tokyo opened, the strongest major currency has been the Australian dollar, while the US dollar has been the weakest, suggesting a continued but slight recovery in risk appetite and putting the couple at the center of attention currency AUD/USD .

➡️ Stock markets are mixed.

➡️ The prices of some soft commodities continued to rise significantly, along with futures of cocoa and sugar which reached or approached new long-term highs.

➡️ Data on the change in the number of claimants in the UK (unemployment claims) was higher than expected today.

➡️ Flash Manufacturing and Services PMI data for the US, UK, Germany and France will be released today.

➡️ Australian CPI (inflation) data will be released later.

 

Credit by DailyForex.com

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