The price of Ripple (XRP) spiked more than 70% over the last 24 hours after a U.S. judge ruled that Ripple did not break securities laws by selling XRP on public exchanges. The decision is a major victory for Ripple, which has been fighting the SEC in court for over two years. The SEC concluded by stating that the court's decision will continue to be reviewed.
The second-quarter US corporate earnings season kicks off today. The major airline carrier Delta Air Lines (NYSE: DAL) and the beverage and snack giant PepsiCo (NASDAQ: PEP) reported the second quarter earnings results.
Global markets remain volatile ahead of the most awaited macro news of the week, the US CPI report. The markets should react positively if inflation shows further signs of cooling. The inflation data could determine the size of the US Federal Reserve's rate hike at this month's policy meeting.
The US dollar pairs remain the centre stage of attention ahead of Wednesday’s US CPI report. The dollar index, which tracks the U.S. currency against six major peers has taken an even deeper plunge on Tuesday Morning dragged down by the speculation that the US Federal Reserve is nearing the end of its policy tightening cycle.
Global markets are volatile again after the release of robust US economic data. This can stay for a while. Volatility means indecision and the bulls/bears are fighting for the next direction. Today the focus will also turn to the US employment report (NFP), which should prompt even more volatility.