#USD is rising for the 6th consecutive trading session against major currencies, but the rise of #AUD and the decline in the #JPY as a sign of some increase in appetite for risk. This is also evidenced by the decline in #Gold and the growth of #Brent. Chinese indices remain under pressure.

#Bitcoin shoot up to 8000 again but still struggle to pass it

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#WaveAnalysis: Corn is expected to rise further and retest the next round resistance level 400.00
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#WaveAnalysis: GBPAUD is expected to fall further and retest the next support level 1.8300
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#USD mainly no changed to major currencies over the last 24h, except #AUD, that fell under renewed pressure after some retreat. Stock indices (#ChinaA50, #SPX, #Nikkei225) was added this morning, but far from return Monday loss. #Gold develops decline, #Brent fell back to $71.50.

Huawei issue creates market pressure
Alphabet and some other American IT companies have suspended business with Huawei, which is one of the first examples of major consequences for a Chinese company being blacklisted by the US government.

The last turn of the trade wars provoked a market reaction in the form of key indices decline, which returned the demand for US government bonds and defensive yen and franc.

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Crypto market settles after a rally

Technical analysis suggests that the market is “settling down” after an impressive rally. Important signals for the bulls can be dynamic above the $8,300 mark, which was resistance level since last July and during the previous week. Alternatively, a decline below $7,000 could be a signal that the current growth impulse could not pass $8,000, which could trigger a stronger correction.

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🗓 Important upcoming events and publications for the next 24 hours (GMT):

🇬🇧 15:00 Prime Minister Theresa May Speaks. Risks for #GBP: High

🇳🇿 22:45 New Zealand Retail Sales. Risks for #NZD: High. It is expected growth by 0.6 q/q after the jump by 1.7% q/q earlier. Values below expectations could increase pressure for kiwi dollar.

Wednesday, May 22
🇬🇧 08:30 U.K. Consumer Price Index. Risks for #GBP: High. Values below expectations could return pressure for pound sterling.

Detailed economic calendar

#WaveAnalysis: #CADJPY is expected to rise further and retest the next round resistance level 84.00
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#WaveAnalysis: #Wheat is expected to rise further and retest the next round resistance level 500.00
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Dollar squeezes competitors out

#GBP declined past eleven of the last 12 trading sessions

#SPX grew around 0.8% on Tuesday but struggle to rise further on Wednesday morning

#EUR develops a downtrend, showing the 8th day of intraday lower lows and highs

#Tesla stocks declined below $200 on Monday and Tuesday

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Bitcoin is stuck near the $8K threshold as neither bulls nor bears have a clear advantage

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#WaveAnalysis: #USDCAD is expected to rise further and retest the next resistance level 1.3520
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#WaveAnalysis: #Platinum is expected to fall further and retest the next round support level 800.00
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🗓 Important upcoming events and publications for May 23 (GMT):

🇩🇪 08:00 German Ifo Business Climate. Risks for EUR: Moderate. The index is expected to remain at 99.2. Since August last year, the index has been in decline, causing concern about the German economy. The values above the forecast are favourable for the Euro.

🇬🇧 08:30 U.K. Retail sales. Risks for GBP: High. Sales are expected to decline by 0.4% m/m and slowing to 4.5% y/y after jumping by 1.1% m/m and 6.7% y/y a month earlier. The values above the forecast are favourable for the Pound.

🇪🇺 Elections to the European Parliament. Risks for EUR: Moderate. Voters from 28 EU countries will elect 751 members of the European Parliament for the next 5 years.

🇺🇸 14:00 U.S. New Home Sales. Risks for USD: Moderate. In April, sales are expected to decline by 3.8% after a 4.5% increase. Since October last year, there is a trend for the growth of the indicator. The values above the forecast are favourable for the Dollar.

Detailed economic calendar

The demand for the dollar as a safe haven currency continues to affect the markets. Major currencies are contracting to #USD. Key global indices lost 0.6%-1.4% over the last 24 hours. #Hang Seng at fell to the lowest level since January. #Brent Crude Oil lost 2%. #Bitcoin is sagging, losing 4%.

Bitcoin and the altcoin market as a whole have begun to give up, loosing almost 4% to $7,600 over the past 24 hours

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Fears of trade wars pushed markets to important levels

Chinese #HengSeng fell to 4-month lows and below the 200-day moving average;

#SPX decreased by 4.1% this month;

#EURUSD is melting to one step from important 2-years lows at 1.1100;

#Brent stood at $69.50, below important level $70 and MA50 and halfway from MA200 at $69 now.

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#WaveAnalysis: #WTI is expected to fall further and retest the next support level 57.50
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