⚠️ 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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🇺🇸 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.

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🗓 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

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Ethereum Wave Analysis – 7 May 2026

- Ethereum reversed from pivotal resistance level 2400.00

- Likely to fall to support level 2200.00.

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Tron Wave Analysis – 7 May 2026

- Tron broke resistance zone

- Likely to rise to resistance level 0.3520

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GBPAUD Wave Analysis – 7 May 2026

- GBPAUD reversed from support zone

- Likely to rise to resistance level 1.8940

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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.

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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.

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

✔️ Prev: 185K

🕒 Exp: 65K

🎯 Fact.: 115K 📈

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⚠️ USA — Unemployment Rate at 03:00 GMT

✔️ Prev: 4.3%

🕒 Exp: 4.3%

🎯 Fact.: 4.3%

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⚠️ Canada — Employment Change at 03:00 GMT

✔️ Prev: 14.1K

🕒 Exp: 12.9K

🎯 Fact.: -17.7K 📉

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⚠️ Canada — Unemployment Rate at 03:00 GMT

✔️ Prev: 6.7%

🕒 Exp: 6.7%

🎯 Fact.: 6.9% 📉

🇺🇸 US Pre-Market: Moderately Positive 📈

The US stock market is showing a moderately positive trend in pre-market trading, with gains evident among major tech names and a number of cyclical stocks, while declines remain limited and sporadic.

In the Information Technology sector, NVIDIA (NVDA) is up 1.16%, while Advanced Micro Devices (AMD) is up 2.04%.

In the Financials sector, JPMorgan Chase (JPM) is up 0.68%, while Bank of America (BAC) is up 0.28%.

In the Consumer Discretionary sector, Tesla (TSLA) is up 1.48%, while Amazon (AMZN) is up 0.47%.

Overall, the rise among the largest companies by market cap is creating a risk-on environment: demand is shifting toward risk assets, limiting interest in the dollar as a safe haven. In the short term, this is creating neutral-to-soft pressure on the dollar.

▶️ Pro News Weekly: The Dollar Is Falling and Markets Love It

Welcome to Pro News Weekly!

💵 The U.S. dollar weakens as hopes for a de-escalation in the Middle East reduce safe-haven demand, even as resilient labor market data and inflation concerns keep Fed policy expectations in focus.

📊 Stock indices continue climbing to fresh record highs, driven by strong corporate earnings, AI-fueled optimism and expectations that fiscal stimulus and tax cuts will support economic growth into 2026.

🪙 Gold rebounds sharply amid easing inflation fears and falling oil prices, while traders watch whether central banks will resume aggressive buying as geopolitical tensions cool.

₿ Bitcoin struggles to keep pace with stocks and gold despite holding above key levels, as investors debate whether crypto still behaves like a high-risk asset or an emerging safe haven during global uncertainty.

Will easing geopolitical tensions and stronger earnings continue fueling the rally in risk assets, or could inflation, trade tensions, and shifting Fed expectations trigger the next major market reversal?

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CHFJPY Wave Analysis – 8 May 2026

- CHFJPY reversed from support zone

- Likely to rise to resistance level 204.00

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Filecoin Wave Analysis – 8 May 2026

- Filecoin broke resistance zone

- Likely to rise to resistance level 1.435

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Uniswap Wave Analysis – 8 May 2026

- Uniswap broke resistance zone

- Likely to rise to resistance level 4.13

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