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.

——————
FxPro. Trade Like a Pro. | Subscribe | Boost

🇺🇸 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

——————
FxPro. Trade Like a Pro. | Subscribe | Boost

S&P 500 Wave Analysis – 6 May 2026

S&P 500: ⬆️ Buy

- S&P 500 reversed from support level 7200.00

——————
FxPro. Trade Like a Pro. | Subscribe | Boost

Zcash Wave Analysis – 6 May 2026

- Zcash broke resistance level 540.00

- Likely to rise to resistance level 650.00

——————
FxPro. Trade Like a Pro. | Subscribe | Boost

Platinum Wave Analysis – 6 May 2026

- Platinum reversed from support zone

- Likely to rise to resistance level 2140.00

——————
FxPro. Trade Like a Pro. | Subscribe | Boost

⚠️ 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.

——————
FxPro. Trade Like a Pro. | Subscribe | Boost

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.

——————
FxPro. Trade Like a Pro. | Subscribe | Boost

🇺🇸 US Pre-Market: Moderately Positive 📈

The US stock market is showing a moderately positive trend in pre-market trading, with leading companies in the technology and select cyclical sectors trading higher, setting the overall market tone.

In the Financials sector, Berkshire Hathaway (BRK.B) is up 0.11%, while Visa (V) is up 0.17%.

In the Information Technology sector, Microsoft (MSFT) is up 1.28%, while Alphabet (GOOGL) is up 1.09%.

In the Energy sector, Exxon Mobil (XOM) is down 1.67%, while Chevron (CVX) is down 1.65%.

The prevailing gains among major technology companies point to heightened risk appetite within the US. Capital flows are shifting in favour of equities, while interest in safe-haven dollar assets and Treasuries remains subdued. In this scenario, the dollar typically shows neutral or moderately soft dynamics against a basket of currencies, with no clear momentum for appreciation unless external factors create additional safe-haven demand.

Markets continue to hit new highs, thanks to AI

The S&P 500 continues to hit record highs thanks to upbeat corporate earnings, attractive valuations, the US economy’s strength, confidence in the de-escalation of the Middle East, and fiscal stimulus.

Thanks to Donald Trump’s One Big Beautiful Bill Act, Americans will pay $63 billion less in taxes in 2026 than in 2025, while the total amount of tax deductions will increase by $47 billion. This creates a kind of safety net for both the economy and the stock indices.

——————
FxPro. Trade Like a Pro. | Subscribe | Boost

🗓 Economic Calendar at 2026/05/08 (GMT)

07:00 🇪🇺 ECB President Christine Lagarde Speaks

12:20 🇬🇧 BOE Governor Andrew Bailey Speaks

12:30 🇺🇸 ⚡️ Non-Farm Employment Change — Exp: 65K Actual: 115K

12:30 🇺🇸 ⚡️ Unemployment Rate — Exp: 4.3% Actual: 4.3%

12:30 🇺🇸 Average Hourly Earnings — Exp: 0.3% | 3.8% Actual: 0.2% | 3.6%

12:30 🇺🇸 Change in Private Payrolls — Exp: 75K Actual: 123K

12:30 🇨🇦 ⚡️ Employment Change — Exp: 12.9K Actual: -17.7K

12:30 🇨🇦 ⚡️ Unemployment Rate — Exp: 6.7% Actual: 6.9%

12:30 🇨🇦 Part-Time Employment Change Actual: -46.7K | 29.0K

14:00 🇺🇸 UoM Consumer Sentiment — Exp: 49.7 Actual: 48.2

16:00 🇺🇸 President Donald Trump Speaks


[Updated in real time]

USDJPY Wave Analysis – 7 May 2026

- USDJPY reversed from support zone

- Likely to rise to resistance level 160.00

——————
FxPro. Trade Like a Pro. | Subscribe | Boost

Ethereum Wave Analysis – 7 May 2026

- Ethereum reversed from pivotal resistance level 2400.00

- Likely to fall to support level 2200.00.

——————
FxPro. Trade Like a Pro. | Subscribe | Boost

Tron Wave Analysis – 7 May 2026

- Tron broke resistance zone

- Likely to rise to resistance level 0.3520

——————
FxPro. Trade Like a Pro. | Subscribe | Boost

GBPAUD Wave Analysis – 7 May 2026

- GBPAUD reversed from support zone

- Likely to rise to resistance level 1.8940

——————
FxPro. Trade Like a Pro. | Subscribe | Boost

Weekly review: Dollar in retreat, stocks in rally, gold is rising

The US dollar bounced back from sellers amid doubts about a swift resolution to the Middle East conflict and positive US economic data. ADP reported a 109K increase in private sector employment in April, the best performance since the start of 2025. The stabilisation of the labour market against a backdrop of accelerating inflation allowed the DXY to rebound by 0.5% from the day’s lows, recouping half of its losses since the start of the day on Wednesday. However, this was short-lived.

The US and Iran are working to resume talks by May 15th. Markets react first and ask questions later. Consequently, rumours of a de-escalation of the conflict in the Middle East initially pushed the EURUSD to its highest since February, near 1.1800. However, subsequent doubts caused the pair to retreat.

——————
FxPro. Trade Like a Pro. | Subscribe | Boost

The crypto market has retreated, taking its cue from equities

The crypto market capitalisation has fallen by around 2% over the past 24 hours to $2.62 trillion, amid a renewed flight to safety in global markets. The leaders were Internet Computer (+9%), Zcash (+3.6%) and Tron (+1.4%); the laggards were Doge (-4.7%), Toncoin (-3.7%) and Dash (-3.5%). Since hitting lows at the end of March, the cryptocurrency market has been rising at roughly the same pace as the S&P 500, but at about half the speed of its more familiar bellwether – the Nasdaq 100. Since the start of the year, the Nasdaq 100 has gained 13%, while the crypto market has declined 12%.

Bitcoin has returned to levels below $80K, extending its retreat from the 200-day moving average and after touching the overbought zone as part of a pullback from the upper boundary of the uptrend channel. The lower boundary of this channel lies near $77.5K, but a break in this trend would require a fall below the recent lows near $75K.

——————
FxPro. Trade Like a Pro. | Subscribe | Boost