Market Snapshot – Dollar Shoots Higher on Growing Anticipation

Dollar Grows in Size

The dollar continued to rise higher and gain in strength over the entire day as the focus for this week is firmly and correctly on the dollar over the last few days. The anticipation over the FOMC meeting and the minutes towards the end of the week is growing as the market hopes that the Fed would be hawkish as it can be and also indicate a timeline for the rest of the rate hikes during the course of the year. If this does happen, we can see the dollar gaining even more ground in the times to come and this is likely to be seen all across the board. Looking ahead to the day, the stock markets are expected to be buoyant on the back of all these developments and this is likely to push the stocks higher in due course of time.

BTC Prices Stable

The crypto market continues to consolidate and based on the events from last year, this is indeed a season of consolidation and ranging and the same is expected to continue over the short and medium term as well. The BTC prices did turn out to be weaker than what was expected and this led to the prices putting the $8000 region under pressure but the bulls were able to recover smartly from that region which has since helped the prices to climb through the $8300 region once again as the consolidation continues. On other news, the exchange Coincheck is expected to restart its operations in Japan after a brief while and it is also expected that the large exchange would begin to expand its operations into the US as well in due course of time. This is a further sign that the market is expanding and maturing and getting itself ready for the advent of larger traders and investors as more and more people to begin to realise that this market is here to stay.

This article was originally posted on FX Empire

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