Politics is weighing on the pound

Labour risks losing the local elections, which could pressure GBPUSD.

Japan may be able to afford further currency intervention.

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🇺🇸 US Pre-Market: Moderately Positive 📈

The US stock market is showing a moderately positive trend in pre-market trading, with major technology and consumer companies mostly trading in positive territory, setting a cautious risk-on tone.

In the Information Technology sector, NVIDIA (NVDA) is up 0.40%, Intel (INTC) is up 4.10%, while Microsoft (MSFT) is up 0.58%.

In the Communication Services sector, Alphabet (GOOGL) is up 0.37%.

In the Consumer Discretionary sector, Tesla (TSLA) is up 0.81%, while in the Energy sector, Exxon Mobil (XOM) is down 0.22%.

The prevalence of gains among the most highly capitalised stocks points to heightened risk appetite within the US and continued demand for US assets. In this environment, the dollar is not receiving significant support as a safe-haven currency; performance is likely to remain neutral with limited fluctuations until new signals emerge on Fed monetary policy or cross-border capital flows.

⚠️ USA — ISM Services PMI at 03:00 GMT

✔️ Prev: 54.0

🕒 Exp: 53.7

🎯 Fact.: 53.6 📉

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⚠️ USA — JOLTs Job Openings at 03:00 GMT

✔️ Prev: 6920K

🕒 Exp: 6860K

🎯 Fact.: 6870K 📈

▶️ Pro News Flash: Why Bitcoin Could Surge Next

₿ Bitcoin is emerging as a key beneficiary of rising geopolitical tensions in the Middle East. As conflict intensifies, investors are rotating capital away from traditional assets like gold and equities, reinforcing Bitcoin’s growing role as a safe-haven alternative.

📈 The recent rally was fueled by strong inflows into Bitcoin ETFs and a decisive break above the critical $80,000 level. At the same time, Coinbase announced new banking partnerships to support stable coins, adding further momentum to the market.

⚖️ Bitcoin now sits in a unique “win-win” scenario. An escalation in geopolitical tensions could drive further demand as investors seek safety, while de-escalation may boost global risk appetite and equities, indirectly supporting crypto markets as well.

🏦 However, macro conditions remain a limiting factor. Unlike the 2025 rally when Bitcoin exceeded $125,000 amid aggressive rate cuts, current monetary policy remains tight. John Williams has indicated that easing may come eventually, but inflation pressures persist and markets still price in a chance of further tightening.

📊 While upside potential remains, a return to all-time highs may require stronger confirmation. Holding above the $80,000 level and attracting sustained demand will be critical for the next leg higher.

💡 With both geopolitical and macro forces in play, Bitcoin is entering a phase where volatility and opportunity go hand in hand. This is a market setup worth watching closely right now.

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🗓 Economic Calendar at 2026/05/06 (GMT)

01:00 🇳🇿 RBNZ Governor Anna Breman Speaks

01:45 🇨🇳 Markit Services PMI — Exp: 52.0 Actual: 52.6

01:45 🇨🇳 Markit Composite PMI Actual: 52.1

08:00 🇪🇺 Services PMI — Exp: 47.4 Actual: 47.6

08:00 🇪🇺 PMI Composite — Exp: 48.6 Actual: 48.8

12:15 🇺🇸 ⚡️ ADP Non-Farm Employment Change — Exp: 118K Actual: 109K

14:00 🇨🇦 Ivey PMI — Exp: 49.9 Actual: 57.7 | 61.5

14:30 🇺🇸 Crude Oil Inventories — Exp: -3400K Actual: -2314K

20:15 🇨🇦 ⚡️ BOC Governor Tiff Macklem Speaks


[Updated in real time]

⚠️ New Zealand — Employment Change at 03:00 GMT

✔️ Prev: 0.5% | 0.2%

🕒 Exp: 0.3% | 0.5%

🎯 Fact.: 0.2% 📉 | 0.4% 📉

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⚠️ New Zealand — Unemployment Rate at 03:00 GMT

✔️ Prev: 5.4%

🕒 Exp: 5.4%

🎯 Fact.: 5.3% 📈

Altcoins are surging amid a steady rise in BTC price

The crypto market capitalisation has risen by 0.75% over the past 24 hours, reaching $2.69 trillion. The top three performers are Zcash (+29%), Toncoin (+23%) and Filecoin (+16%). The underperformers are Ethereum (−0.4%), Algorand (−0.5%) and Basic Attention Token (−4.6%).

Bitcoin is approaching $81.5K, continuing its movement within an upward channel and hitting new highs since February. This positive momentum can easily be linked to the continued rise in stock indices, which is boosting risk appetite and bringing a more significant technical battle into view. The leading cryptocurrency is approaching its 200-day moving average (currently at $83.3K); a firm consolidation above this level would be a further sign of bullish dominance. We saw the first such sign – consolidation above the 50-day moving average – exactly one month ago. It is quite likely that, as Bitcoin approaches $83K, a short-term profit-taking phase awaits, allowing some of the gains to be taken.

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Geopolitics has caused the dollar to retreat

The end of Operation Epic Fury is boosting risk appetite.

Japan is likely to continue punishing speculators.

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⚠️ USA — ADP Non-Farm Employment Change at 03:00 GMT

✔️ Prev: 61K

🕒 Exp: 118K

🎯 Fact.: 109K 📉

Brent is heading towards de-escalation

The markets are betting on a swift resolution to the US-Iran conflict.

The fall in Brent and WTI prices is likely to be sharp but short-lived.

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🇺🇸 US Pre-Market: Moderately Positive 📈

The US stock market is showing a moderately positive trend in pre-market trading, with the major tech giants trading higher on average, putting the market in risk-on mode.

In the Information Technology sector, NVIDIA (NVDA) is up 1.87%, Broadcom (AVGO) is up 1.79%, while Microsoft (MSFT) is down 0.35%.

In the Communication Services sector, Alphabet (GOOGL) is up 1.82%.

In the Financials sector, JPMorgan Chase (JPM) is up 0.90%, while Bank of America (BAC) is up 0.94%.

In the foreign exchange market, the current pattern of capital flows points to a risk-on environment: sustained demand for growth leaders is limiting interest in the dollar as a safe-haven asset. In the near term, this creates a neutral to slightly subdued backdrop for USD strength, shifting investor focus toward US equities and the corporate sector rather than Treasuries and the safe-haven dollar.

Toncoin Wave Analysis – 6 May 2026

- Toncoin broke resistance zone

- Likely to rise to resistance level 2.8000

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S&P 500 Wave Analysis – 6 May 2026

S&P 500: ⬆️ Buy

- S&P 500 reversed from support level 7200.00

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Zcash Wave Analysis – 6 May 2026

- Zcash broke resistance level 540.00

- Likely to rise to resistance level 650.00

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Platinum Wave Analysis – 6 May 2026

- Platinum reversed from support zone

- Likely to rise to resistance level 2140.00

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⚠️ Canada — BOC Governor Tiff Macklem Speaks at 20:15 GMT

🗓 Economic Calendar at 2026/05/07 (GMT)

08:30 🇬🇧 Construction PMI — Exp: 45.8 Actual: 39.7

12:30 🇺🇸 Unemployment Claims — Exp: 205K Actual: 200K


[Updated in real time]

Bitcoin has stalled just short of the 200-day MA

The crypto market capitalisation has remained around $2.69 trillion, as the largest coins by market cap consolidate following their recent gains, while smaller altcoins have accelerated their growth. The top performers over the last 24 hours were Toncoin (+29%), NEAR (+10.7%) and Internet Computer (+9.6%). The worst performers were recent stars such as Zcash (-5%), Doge (-3.8%) and Bitcoin Cash (-2.9%).

Bitcoin rose to $82.8K on Wednesday, approaching but not breaking through the 200-day moving average (currently at $83.2K). From its local highs, the leading cryptocurrency retreated to $81.3K at the time of writing, pausing its upward momentum. This pause also coincided with the RSI touching the overbought territory (>70) on daily timeframes. It is worrying that the previous three touches of these levels (in August, October and January) were followed by sharp selloffs. It is quite logical that market participants are taking a breather to assess the situation and gather strength. Thus, the current pause is not a sign of buyer exhaustion.

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Gold on the rise

The precious metal has benefited from rumours of a de-escalation of the conflict in the Middle East.

The US and Japan may agree on coordinated currency interventions.

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