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Australia gives crypto firms Sept. 30 licence deadline

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Australia gives crypto firms Sept. 30 licence deadline

Australia’s financial regulator issued a final warning on Sept. 2 to crypto businesses relying on temporary enforcement relief.

Summary

  • September 30 is ASIC’s deadline for qualifying crypto firms to apply for required financial licences.
  • Unlicensed firms operating outside ASIC’s relief conditions may face civil and criminal penalties from October.
  • Potential fines can reach 10% of annual turnover for businesses breaching Australian financial services law.
  • ASIC recorded more than 45 digital asset licence applications after updating its guidance in 2025.
  • Australia’s new Digital Assets Framework begins April 9, 2027, following an eighteen month implementation period.

Qualifying firms have until Sept. 30 to apply for the licences required under existing financial services law.

The Australian Securities and Investments Commission said firms operating without authorization from Oct. 1 could face civil and criminal penalties. Potential fines may reach 10% of annual turnover.

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ASIC has recorded more than 45 digital asset-related licence applications since it updated its guidance in October 2025. The figure rose from approximately 30 applications reported when the regulator extended its original June deadline.

The regulator’s warning applies to businesses providing digital asset products or services that qualify as financial products under existing law. It does not mean that every crypto asset or activity automatically requires the same licence.

ASIC’s crypto deadline covers several licence routes

Businesses that require an Australian Financial Services licence must submit a new application or request a variation to an existing licence by Sept. 30. The appropriate route depends on the products and services each company provides.

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Firms that need an Australian Market Licence or a Clearing and Settlement facility licence face different conditions. They must notify ASIC in writing that they intend to apply and complete a pre-application meeting before the deadline.

ASIC’s updated Information Sheet 225 provides examples showing how financial product rules can apply to digital assets, custody services, wrapped tokens, staking arrangements and stablecoins. Companies must assess the rights attached to each product rather than relying only on its technical description.

Bitcoin and some other digital assets may not qualify as financial products by themselves. However, related services, investment arrangements or derivatives can still fall within the licensing regime.

The legal distinction has already received attention from Australian courts. In related coverage, crypto.news reported that the High Court ruled 7–0 that Block Earner’s fixed-yield product required a financial services licence.

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ASIC’s temporary relief ends on Oct. 1

ASIC introduced its sector-wide no-action position after consulting the industry in December 2024. The relief gave eligible businesses time to review the updated guidance and prepare licence applications.

The regulator initially set June 30, 2026, as the deadline. It later extended the period by three months and expanded the arrangements to cover some authorized representatives and intermediary structures. As crypto.news reported, the extension moved the licensing deadline to Sept. 30.

The no-action position is not a licence, legal exemption or confirmation that a company’s activities comply with the law. It only describes circumstances in which ASIC does not intend to pursue enforcement during the transition.

Companies lose that protection if they fail to meet its conditions. From Oct. 1, ASIC may investigate businesses that appear to provide regulated financial services without authorization.

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The warning about fines of up to 10% of annual turnover describes the possible maximum penalty. It does not mean that every unlicensed firm will automatically receive a fine at that level. Courts determine penalties after considering the applicable law and circumstances of each case.

Australia’s 2027 crypto framework is a separate regime

The Sept. 30 deadline concerns duties that already exist under Australian financial services law. It is separate from the Corporations Amendment (Digital Assets Framework) Act 2026.

Parliament passed that legislation on April 1. It received Royal Assent on April 8 and will take effect on April 9, 2027, according to ASIC’s implementation roadmap.

The law establishes dedicated rules for digital asset platforms and tokenized custody platforms. ASIC will license and supervise companies covered by the new categories.

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Existing authorizations will remain relevant after the framework begins. Some businesses may therefore need to obtain licences under the current rules and later vary those licences to cover activities regulated by the 2027 framework.

ASIC plans to consult on standards and publish further regulatory guidance during the implementation period. The regulator will also continue meeting with companies and industry groups as the new licensing system takes shape.

Previous crypto.news coverage examined ASIC’s developing approach to stablecoins and wrapped tokens, including how particular products may fall within existing financial regulation.

Crypto firms must decide whether to apply or stop services

Businesses relying on the relief must determine before Sept. 30 whether their activities require an AFS, market or clearing and settlement licence. Firms uncertain about their position may need legal advice based on their products, custody arrangements and customer agreements.

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Submitting an application does not guarantee approval. Applicants must satisfy ASIC’s requirements concerning competence, financial resources, compliance systems, risk management and dispute resolution.

Companies that cannot meet the relief conditions may need to stop providing affected services from Oct. 1. Operating while an application is being prepared will not necessarily protect a firm if it missed the applicable deadline.

ASIC’s latest figures show that more than 45 businesses have entered the licensing process. The regulator has not identified those applicants or disclosed how many applications involve exchanges, custodians, tokenization providers or other services.

Enforcement activity may become clearer after the temporary relief expires. ASIC has not announced a specific investigation or prosecution connected to the deadline, but it has stated that noncompliant firms could face both civil and criminal action.

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Standard Chartered launches spot Bitcoin and Ether trading in UAE

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Standard Chartered launches spot Bitcoin and Ether trading in UAE

Standard Chartered launches spot Bitcoin and Ether trading in UAE

Standard Chartered said it is the first major global bank to offer institutional access to spot Bitcoin and Ether trading in the UAE region.

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Viral Altcoin Enters Crypto’s Top 100 Club Following Support From Binance: Details

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The trending altcoin PONS, which saw the light of day earlier this summer, hit a new all-time high and just entered the prestigious club of the 100 largest cryptocurrencies by market capitalization.

Here’s what triggered its additional rally and some of the most interesting predictions for the near future.

PONS Keeps Pumping

The cryptocurrency market has a habit of spewing tokens that stun industry participants with rapid price increases. The latest example is PONS, which is closely connected to Robinhood Chain and began trading in mid-July.

Over the past two weeks, its valuation has skyrocketed by nearly 1,300% and is now hovering at a record high of around $0.55 (per CMC). PONS’s market capitalization is approximately $395 million, making it the 98th-largest cryptocurrency.

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PONS Price
PONS Price, Source: CoinGecko

The most recent jump was likely triggered by Binance, which added the token to its Binance Alpha section. The platform serves as an early-stage discovery hub, featuring emerging cryptocurrencies before they potentially receive official backing.

The impressive performance has caught the attention of numerous industry participants. X user Crypto Tony, for instance, claimed that PONS “will no doubt” hit the $1 billion market-cap milestone “soon.”

Meanwhile, some traders and investors have already tried their luck with the token, but not all have been successful. As CryptoPotato reported, an anonymous person purchased nearly 8 million PONS roughly a month ago for about $443,000. Shortly after, the token pulled back, and the investor decided to minimize the damage by selling their entire position, incurring a $308,000 loss. This turned out to be an emotional and irrational move since the stash is currently worth over $4 million.

Surpassing the Leaders on This Front

Besides being a standout performer today (September 3), PONS is also the number-one trending cryptocurrency (according to CoinGecko). It has dwarfed popular altcoins like Arbitrum (ARB), Uniswap (UNI), Hyperliquid (HYPE), and others, while the heavyweights Bitcoin (BTC) and Ethereum (ETH) have not even made the top 10 list.

Top Trending Cryptocurrencies
Top Trending Cryptocurrencies, Source: CoinGecko

The post Viral Altcoin Enters Crypto’s Top 100 Club Following Support From Binance: Details appeared first on CryptoPotato.

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Arthur Hayes Says EUR/JPY Drop Could Fuel Crypto Liquidity Surge

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Arthur Hayes Says EUR/JPY Drop Could Fuel Crypto Liquidity Surge

Arthur Hayes says a falling EUR/JPY could unlock a fresh wave of crypto liquidity. He argues the currency move signals more dollar printing at the Federal Reserve.

The Maelstrom chief investment officer forecasts EUR/JPY falling from about 185 to below 140 by June 2027. He links the move to US Treasury Secretary Scott Bessent’s currency strategy.

Why EUR/JPY Is Hayes’ Crypto Liquidity Gauge

In July, the New York Fed sold euros to help fund Japan’s yen rescue. It used the Treasury’s Exchange Stabilization Fund (ESF) rather than dollars.

Hayes argues that reallocation previews a bigger pattern. Allies get dollar liquidity without an official expansion of the Fed’s balance sheet.

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EUR/JPY trading at 183.86, down 0.04% on the day, as of Sep 3, 2026. Image Source: TradingView

Senator Elizabeth Warren has already asked Bessent to justify the ESF’s use. He has not disclosed the full amount spent.

Hayes also points to the Fed’s growing use of repo market purchases to backstop Treasury demand. Similar repo dynamics underpin a separate BeInCrypto analysis tying Bessent’s buyback program to a $224,000 Bitcoin math.

Maelstrom, his family office, holds Bitcoin (BTC) as a structural long regardless of short-term swings.

A Political Trigger in France

Hayes’ EUR/JPY call rests partly on France. He argues, in his latest newsletter, the country’s widening bond yields and fragile banks could force the Banque de France into unofficial stimulus. That would come ahead of France’s 2027 presidential election.

That scenario is Hayes’ own framework, not a confirmed policy shift. No French or European Central Bank official has signaled such a move.

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He also cites a widening gap between French and German bond yields. He says it is near its widest level since the 2011 euro crisis.

Still, Hayes says any strain on French lenders could reduce their role in short-term funding markets. He argues that gap would pull the Fed deeper into repo purchases to keep Treasury markets functioning.

He calls a weaker EUR/JPY the fastest early warning that liquidity is accelerating.

Whether the euro cooperates on Hayes’ timeline remains unverified and speculative. If EUR/JPY keeps falling through next year’s French elections, that alone could be the tell.

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Crypto traders may end up watching a currency pair, not ETF flows, for their next liquidity cue.

The post Arthur Hayes Says EUR/JPY Drop Could Fuel Crypto Liquidity Surge appeared first on BeInCrypto.

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Coldcard hacker swaps stolen Bitcoin for ETH via THORChain

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Coldcard hacker swaps stolen Bitcoin for ETH via THORChain

Coldcard hacker swaps stolen Bitcoin for ETH via THORChain

The third-wave Coldcard exploiter moved about 10% of stolen funds through THORChain as researchers traced the assets to a new Ethereum address.

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Uniswap (UNI) Price Surges 100%, and One Chain Playing ‘Robin Hood' Explains Why

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Share of Chain Volume

Uniswap price has doubled since August 14, and the money comes from an unexpected place. Robinhood Chain, the network Robinhood launched on Arbitrum in July, now generates two thirds of everything Uniswap earns.

The original Robin Hood took from the rich and gave to the poor. This one takes from the chain it was built on and pays a protocol that has found it hard to keep its revenue.

Robinhood’s Record Month Ran on Uniswap

Robinhood Chain traded $17.99 billion in August, 26% more than July, per DefiLlama’s Robinhood Chain data, and September 1 was its biggest single day yet.

Almost all of it was Uniswap. On September 1, $1.75 billion of the chain’s $1.95 billion passed through Uniswap pools, per Dune, so nearly every new dollar on the chain is a new dollar of Uniswap fees.

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Share of Chain Volume
Uniswap Share of Robinhood Chain Volume: BeInCrypto

The number of traders barely changed. Wallets rose 22% since August 1 while volume rose 7.9 times, so each is trading about six times more.

 Volume vs Wallets
Robinhood Chain Volume vs Wallets: BeInCrypto

Existing users are putting more money to work, and since Uniswap earns a percentage of each trade, that deepening interest is worth more to it than a rush of new wallets.

So who collects those fees?

Taking From Arbitrum, Paying Uniswap?

Not the chain’s landlord. Robinhood Chain is an Arbitrum Orbit chain, meaning Robinhood built it with Arbitrum’s technology and in return hands Arbitrum 10% of the chain’s net revenue, which came to $1.32 million in 30 days.

Uniswap, the exchange where the trading happens, collected $78.73 million in trading fees there over the same period. That is 60 times Arbitrum’s share, and 66% of everything Uniswap earned across 47 chains. Arbitrum gets paid for lending the technology. Uniswap gets paid every time someone trades.

Uniswap vs Arbitrum Robinhood Chain Fees
Uniswap vs Arbitrum Robinhood Chain Fees: BeInCrypto

The DeFi protocol also earns more per dollar there, charging 0.465% of each dollar traded on Robinhood Chain against 0.214% globally, because Robinhood swaps land in higher fee tiers. In the two highest Uniswap v4 tiers, they paid 84 and 351 basis points against 45 and 241 on Ethereum, per Dune indexed data.

Fee Tiers vs Ethereum
Uniswap v4 Fee Tiers Robinhood vs Ethereum: BeInCrypto

Those tiers are where tokenized stocks trade, and their share of volume rose from under 0.1% in mid August to 4.1% on September 1. More volume at a higher rate means more fees.

The Weakness Robinhood Is Fixing

More fees matter because keeping them is where Uniswap falls short. Of $119.3 million in 30-day fees, only $9.45 million, or 7.9%, reached UNI holders through the burn approved last December. Aerodrome, the largest exchange on Base, passes 70% to holders. GMGN, a Solana meme coin trading app, passes 82%.

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Uniswap Fee Capture vs Rivals
Uniswap Fee Capture vs Rivals: BeInCrypto

Robinhood does not raise that 7.9%. It raises the fee total the 7.9% is taken from. Robinhood Chain’s volume grew 26% in August, and Uniswap charges double its usual rate there. Therefore, every dollar traded on the chain produces more Uniswap fee than a dollar traded elsewhere.

A fixed 7.9% of a larger fee total means more money spent buying and burning UNI, and fewer UNI left in circulation.

On-Chain Volume
On-Chain Volume: BeInCrypto

That is the revenue story whale wallets bought with 257,777 UNI as September opened, and the price was already moving on it.

Uniswap Price Action: A Flag After a 100% Pole

Uniswap trades at $5.73, down 2.1% day-on-day, after a 100% run from $3.16 on August 14 to $6.38. The pullback looks like a bull flag, which usually resolves upward.


Price Vs. Volume
Price Vs. Volume: TradingView

Volume agrees. Buying rose into the peak, and selling has stayed below August 24 levels since.

A daily close above $6.20 confirms the flag and opens $7.06, 23% higher. Below $5.67 the flag fails, and a break under $4.35 erases the setup.

Uniswap Price Analysis
Uniswap Price Analysis: TradingView

Analyst’s View: Robinhood did not set out to rescue Uniswap, but the money says it has. While Robinhood’s volume keeps climbing, UNI has a revenue story it never had before. The chart says the market is still deciding whether to believe it.

The post Uniswap (UNI) Price Surges 100%, and One Chain Playing ‘Robin Hood' Explains Why appeared first on BeInCrypto.

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B HODL Stock Surges 67% in a Month on MicroStrategy Bitcoin Playbook

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Bitcoin one-month price chart

B HODL stock has climbed 67% in a month. It announced buying 1 BTC on Thursday, lifting its treasury to 167.487 BTC.

The company trades on the Aquis Stock Exchange, a small London venue for growth companies. It part-funded the purchase by completing its second at-the-market (ATM) equity programme, with its Capital Deployment Programme covering the rest.

B HODL Stock Climbs While the Bitcoin Cost Basis Stays Underwater

The company paid £57,680, or about $77,772, for the coin. Its average cost sits near $110,129 per Bitcoin, so the treasury stays roughly 29% under water.

Bitcoin (BTC) traded near $77,658 on Thursday, up 0.3% on the day. The coin has gained 22% in a month, so B HODL stock tripled that pace.

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Sats per share climbed to 120.16 from 117.77 at the end of April. That number matters because dilution only pays when each share ends up holding more Bitcoin.

An ATM programme drip-feeds small share tranches into the open market, and MicroStrategy pioneered the tool. B HODL raised about £48,300, or roughly $65,000, selling 600,000 shares at an average 8.06 pence. The Capital Deployment Programme made up the difference.

The scale differs wildly from MicroStrategy’s billion-dollar raises, yet the mechanism is identical. Several peers cannot sell equity at all, because their stock trades below Bitcoin they already own.

Bitcoin one-month price chart
Bitcoin one-month price chart. Source: BeInCrypto

Adam Back Endorses the MicroStrategy Model

Adam Back, the Blockstream chief executive, endorsed the approach.

Adam Back. Source: X

He also backs European treasury vehicles directly, funding a Capital B raise worth €7.6 million on Wednesday.

The rally, however, arrived before the news. HODL closed Wednesday at 8.84p, up 4% on the day, after an 11.11% jump on Tuesday.

B HODL PLC Stock Chart. Source: TradingView

MicroStrategy still sets the benchmark. Michael Saylor said his firm holds more reserve capital than every S&P 500 financial except Berkshire Hathaway, pointing to 845,050 Bitcoin.

That claim rests on a metric MicroStrategy designed itself, however, and MSTR slipped 2.1% on Wednesday.

Analysts called treasury stocks a textbook bubble chart in June, and market net asset value (mNAV) pressure has persisted since.

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B HODL, however, keeps clearing that bar. ATM 2 delivered roughly 135 sats for each new share, comfortably above the 120.16 average.

Issuing above that line leaves holders owning more Bitcoin per share, not less. ATM 3 opens on about September 8 with the same test attached.

The post B HODL Stock Surges 67% in a Month on MicroStrategy Bitcoin Playbook appeared first on BeInCrypto.

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Federal Judge Dismisses XRP Influencer's Defamation Suit: What Does It Mean?

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XRP Influencer's Defamation Suit Dismissed Under Anti-SLAPP Law. Source: X/@SugarXRPL

A federal judge in Washington dismissed a defamation lawsuit filed by XRP-focused influencer Jake Claver against content creator Zach Rector on September 2.

The court ruled that Rector’s 2025 videos about Claver’s businesses contained no actionably false statements.

What Rector’s Videos Actually Referenced

The dismissed lawsuit centered on three videos Rector posted alleging misconduct tied to Claver’s Digital Ascension Group and Digital Wealth Partners, according to reports on X. Those videos drew directly on Claver’s own admissions in a separate New York lawsuit filed by payments processor Verivend Inc.

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In that case, Claver acknowledged fabricating emails, wire transfer confirmations, and a screenshot of a Verivend wallet dashboard showing a false balance exceeding $1 million, according to court documents.

Court filings also show Jake Claver admitted to impersonating Verivend employees on multiple occasions to generate fake email threads.

Judge Kymberly K. Evanson granted Rector’s motion under Washington’s Uniform Public Expression Protection Act, the state’s anti-SLAPP law designed to protect speech on matters of public concern.

“We may not agree with each other sometimes, but for Jake Claver to sue Zach Rector, a fellow XRP community voice, turning price‑call criticism into a $30m federal fight, only to be told the speech was protected, reflects more on the plaintiff than on the videos…,” one user said on X.

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XRP Influencer's Defamation Suit Dismissed Under Anti-SLAPP Law. Source: X/@SugarXRPL
XRP Influencer’s Defamation Suit Dismissed Under Anti-SLAPP Law. Source: X/@SugarXRPL

The court dismissed all of Claver’s claims, including defamation, tortious interference, conspiracy, and breach of contract, without prejudice. Evanson also ruled that Rector is entitled to recover his attorneys’ fees and litigation costs. Claver has until September 23 to file an amended complaint.

Rector confirmed the ruling directly, saying the court found no false statement in his videos and that he is entitled to recover his fees because Claver’s suit targeted his free speech rights on a matter of public concern.

A Familiar Pattern in Crypto Defamation Cases

This is not the first time a prominent crypto influencer’s defamation claim against a critic has collapsed. In 2022, BitBoy Crypto founder Ben Armstrong sued fellow YouTuber Erling Mengshoel Jr., known as Atozy, over a video accusing him of promoting a failed token.

Armstrong voluntarily withdrew the case within weeks after Atozy crowdfunded more than $200,000 for his defense, as public backlash mounted. Unlike Claver’s case, no judge ever ruled on it, so it set no formal legal precedent.

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Still, both episodes illustrate a recurring dynamic in the crypto space: defamation suits filed against outspoken critics have repeatedly struggled to survive public and legal scrutiny, often ending in withdrawal or dismissal rather than victory for the plaintiff.

The ruling drew a strong reaction within the XRP community online, with several observers characterizing it as a clear vindication of Rector’s reporting and a warning against using defamation claims to suppress criticism within the space.

The post Federal Judge Dismisses XRP Influencer's Defamation Suit: What Does It Mean? appeared first on BeInCrypto.

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ARB Skyrockets by Double Digits Again, BTC Recovers From Drop to $76K: Market Watch

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Following the latest escalation in the Middle East war, bitcoin’s price dipped toward $76,000 yesterday for the first time in almost two weeks before rebounding today.

Most larger-cap alts have posted some gains over the past day, with XRP climbing to over $1.35 and BNB tapping $700. ETH still fights for $2,400.

BTC Rebounds

The breakout from a couple of weeks ago drove the primary cryptocurrency from under $65,000 toward $80,000 within days. After hitting some resistance there at first, BTC finally managed to surge past that level last week, jumping to $81,200 and $81,500 on a couple of occasions.

However, the bulls were too exhausted and couldn’t continue driving the asset north. Instead, bitcoin dropped to $77,000 last Friday after Kevin Warsh’s hawkish speech at Jackson Hole.

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Nevertheless, the cryptocurrency managed to recover some ground during the weekend and touched $79,000 on Sunday. It dipped back down to $77,000 on Monday after the strikes in the Middle East resumed, rebounded to $79,000 and closed the month in the green, and dropped once again yesterday to $76,200 – its lowest price tag in 10 days.

Nevertheless, that level provided the necessary support, and BTC now trades close to $78,000. Its market capitalization on CMC is up to $1.560 trillion, while its dominance over the alts stands still at 59.6%.

BTCUSD September 3. Source: TradingView
BTCUSD September 3. Source: TradingView

ARB Rockets

Arbitrum’s native token is today’s top performer, having surged by 18.5%. It now trades close to $0.14 after a 50% increase in the past week. NIGHT is next with an 11.5% pump, followed by CAKE (9%), APT (9%), LIT (8%), and PYTH (6.5%).

SUI and ADA have surged the most from the larger caps, both up by over 6% to $0.21 and $0.77. XRP has reclaimed the $1.35 support after a 2.7% daily increase. ETH fights for $2,400, while BNB is slightly above $700. SOL is back to $100, while TRX is up by just over 1%. In contrast, UNI has slumped by 6.5% after its recent rally, while SKY is down by almost 6%.

The total crypto market cap is up by $20 billion to $2.620 trillion on CMC.

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Cryptocurrency Market Overview September 3. Source: QuantifyCrypto
Cryptocurrency Market Overview September 3. Source: QuantifyCrypto

The post ARB Skyrockets by Double Digits Again, BTC Recovers From Drop to $76K: Market Watch appeared first on CryptoPotato.

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CFTC asks judge to dismiss CME lawsuit over crypto perpetual futures

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CME dives further into $85 trillion digital assets market with Nasdaq CME Crypto Index futures


The regulator claims the dispute is “much ado about nothing,” noting that the order allows any designated contract market, including CME, to list these products.

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EUR/USD and GBP/USD at Key Support Levels Ahead of US Labour Market Data

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EUR/USD and GBP/USD at Key Support Levels Ahead of US Labour Market Data

The euro and pound continue to decline, approaching important support levels amid a stronger US dollar. Further moves in EUR/USD and GBP/USD will depend on incoming macroeconomic data, particularly developments in the US labour market.

Today, market attention will focus on economic data from Europe and the US. In the eurozone, services-sector business activity indices will be released, with weaker readings potentially keeping pressure on the euro. In the US, weekly labour-market data will be published, while additional attention will be paid to comments from Federal Reserve representative Christopher Waller. However, tomorrow’s employment report will be the key market reference point. Following the weak ADP reading, further signs of a cooling labour market could strengthen expectations of a more accommodative Fed policy and put pressure on the dollar, while stronger figures could support further dollar gains.

For the pound, domestic data and signals from the Bank of England will provide an additional point of reference. Services-sector business activity figures will be in focus, along with a speech by Bank of England Governor Andrew Bailey, whose comments could influence expectations for the central bank’s future policy.

EUR/USD

As expected, EUR/USD has tested the important 1.1580–1.1620 support area. The decline has so far slowed near the upper boundary of the 1.1520–1.1560 range formed in August. Weak eurozone data could push EUR/USD further into this range. A return above 1.1620, followed by a sustained move above this level, would weaken the current bearish scenario and create conditions for a corrective recovery.

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Key events for EUR/USD:

  • today at 10:15 (GMT+3): Spain Services Purchasing Managers’ Index (PMI);
  • today at 10:55 (GMT+3): Germany Composite Purchasing Managers’ Index (PMI);
  • today at 15:30 (GMT+3): US initial jobless claims.

GBP/USD

GBP/USD continues to play out the bearish “tower” pattern described earlier. A sustained move below the important 1.3500 support level keeps the risk of further declines towards the 1.3400–1.3440 area. A rebound from this zone could trigger a corrective recovery, while the bearish scenario could be considered invalidated after a sustained move above 1.3560.

Key events for GBP/USD:

  • today at 11:30 (GMT+3): UK Services Purchasing Managers’ Index (PMI);
  • today at 17:00 (GMT+3): US ISM Non-Manufacturing Purchasing Managers’ Index;
  • tomorrow at 11:50 (GMT+3): speech by Bank of England Governor Andrew Bailey.

Overall, EUR/USD and GBP/USD remain in a downtrend near important support levels, although their further direction will depend on incoming macroeconomic data. Following the weak ADP report, tomorrow’s US employment report will be the key reference point. Further signs of cooling in the labour market could increase pressure on the dollar, while stronger figures could support further dollar gains and lead to continued declines in both currency pairs.

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