Mid-Week Market Update: Crypto Crisis; Inflation Engulfs US Dollar
- US Dollar, US yields, and EUR/USD (01:34)
- Bitcoin and historical cryptocurrency drawdowns (12:10)
- CAD-crosses, AUD-crosses, and NZD-crosses (22:47)
- Crude oil, gold, and silver (40:55)
US Dollar Consumed by Inflation Narrative - Bitcoin Too
FX markets may be quieter these days thanks to little movement in US Treasury yields, but that doesn't mean that important shifts aren't occurring beneath the surface of global financial markets. Inflation fears are pervasive, and the ongoing manifestation of concerns over eroding puchasing power has breathed life into the idea that anything 'digital' or 'technology' related is overvalued, from the US Nasdaq 100 to Bitcoin.
Key Event Risk This Week
Economic Calendar - latest economic development and upcoming event risk
--- Written by Christopher Vecchio, CFA, Senior Currency Strategist
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.