Editors' Picks

Following the wild fluctuations seen in financial markets in the American session on Wednesday, volatility remains high early Thursday. The Bank of England (BoE) will announce monetary policy decisions during the European trading hours.

As BlackRock expands its presence in the cryptocurrency space with the launch of Bitcoin and Ethereum exchange-traded funds (ETFs), the asset manager has released a comprehensive Bitcoin paper that outlines BTC’s importance and its broader impact on the financial landscape.

AUD/JPY continues its winning for the fourth successive day, trading around 97.10 during the early European hours.

An analyst has explained how Bitcoin will likely continue the latest bullish swing, at least in the short-term.

Japan equities were higher at the close on Thursday, as gains in the Food, Fishery and Services sectors propelled shares higher.

USD/CAD trades around 1.3550 during Thursday’s European hours.

TradingKey - The Federal Reserve has kicked off a new easing cycle with a 50 basis point rate cut, yet the market rally did not last long. Concerns loom over whether the Fed can replicate the economic soft landing achieved by Alan Greenspan in 1995.

Data shows the Ethereum ecosystem has continued to remain number one in terms of development activity, ahead of the likes of BNB and Polygon.

Bitcoin price remained supported above the $58,500 level. BTC formed a base and started another increase above the $60,000 resistance zone after the Fed surprised with a 0.50% rate cut.

Federal Reserve Chairman Jerome Powell explains the decision to cut the policy rate, federal funds rate, by 50 basis points to the range of 4.75%-5% after the September meeting and responds to questions in the post-meeting press conference.

Investing.com-- Citi analysts said they maintained their outlook for a 50 basis point cut by the Federal Reserve in November, after the central bank cut rates by a similar margin in its first cut since 2020. 

The Australian Dollar (AUD) breaks its three-day winning streak against the US Dollar (USD), following the labor market report released on Thursday. Additionally, traders continue to assess the Federal Reserve’s (Fed) 50 basis points (bps) interest rate cut on Wednesday.

After a steady decline, Dogecoin price found support near the $0.0985 level. A base was formed, and DOGE started a decent upward move like Bitcoin and Ethereum. There was a move above the $0.1020 and $0.1040 resistance levels.

According to one analyst, Tron, a popular smart contracts platform and a stiff competitor of Ethereum, could be one of the most important layer-1s. Based on his assessment, the platform now serves more as a transactional layer, similar to Bitcoin.

Investing.com-- The Bank of Japan is expected to keep interest rates unchanged at the conclusion of a two-day meeting on Friday, although policymakers could still present a hawkish outlook on expectations of higher inflation.

The EUR/USD pair trades flat during the early European session on Thursday. The major pair initially edges higher to monthly highs of 1.1189 after a large rate cut by the Federal Reserve (Fed) at its September meeting and eases back to near 1.1120.  

The Federal Reserve started the rate cutting cycle with a jumbo-sized rate cut on Wednesday, but economist believe a 50 basis point rate cut isn't the new 25bps, expecting a more measure pace of cuts ahead.