EUR/USD: Why the rate differential still sets the ceiling on any euro rally
Every euro rally of the past two years has run into the same wall: the spread between what the market…
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Gold: the three inputs that actually explain XAU/USD, and the one that does not
Real yields, official-sector buying and the dollar do most of the work in gold. Inflation headlines, despite the folklore, do…
Bitcoin: how the four-year cycle framework holds up now that institutions set the marginal price
The halving cycle shaped every previous Bitcoin bull market. With regulated funds now setting the marginal bid, the framework needs…
Central banks: what a policy statement actually tells you, line by line
The rate decision is rarely the news. The market trades the changed adjectives, the vote split and the projections —…