Bitcoin declined to $7600 on Wednesday morning, where it received some buyers support. But RSI on the daily charts is worrying.
Read more in our Bit-comment
Read more in our Bit-comment
American indices climbed yesterday by more than 2%, possibly changing fortune from the technical analysis perspective for #SPX.
Moreover, weaker Dollar helps #EURUSD to confirm breaking the downward trend for the previous months.
Chart of the day
Fed Funds Rate Futures show 3 FOMC rate cuts over the next 12 months as the most likely scenario. Markets give just 0.6% that rates will stay at current levels. This is a dramatic decline from 78% in March.
Read more in the FxPro market review.
Moreover, weaker Dollar helps #EURUSD to confirm breaking the downward trend for the previous months.
Chart of the day
Fed Funds Rate Futures show 3 FOMC rate cuts over the next 12 months as the most likely scenario. Markets give just 0.6% that rates will stay at current levels. This is a dramatic decline from 78% in March.
Read more in the FxPro market review.
🇬🇧 08:55 BoE's Carney Speech. Risks for GBP: high. The speech at the meeting of the Institute of International Finance will draw attention to possible hints at a reversal of the BoE's policy towards easing, which can cause a weakening of the pound.
🇪🇺 11:45 ECB's monetary policy decision. Risks for EUR: high. No policy changes are expected, but accompanying comments may cause a surge in volatility in pairs with Euro .
🇪🇺 12:30 ECB Press conference. Risks for EUR: high. Draghi's comments on the assessment of the current situation and the prospects of monetary policy often cause the sharpest fluctuations for the single currency.
🇺🇸 12:30 U.S. Initial Unemployment Claims. The number of initial claims remains close to 49-year lows. However, very weak employment figures from ADP have caused the markets to be wary.
Detailed economic calendar
🇪🇺 11:45 ECB's monetary policy decision. Risks for EUR: high. No policy changes are expected, but accompanying comments may cause a surge in volatility in pairs with Euro .
🇪🇺 12:30 ECB Press conference. Risks for EUR: high. Draghi's comments on the assessment of the current situation and the prospects of monetary policy often cause the sharpest fluctuations for the single currency.
🇺🇸 12:30 U.S. Initial Unemployment Claims. The number of initial claims remains close to 49-year lows. However, very weak employment figures from ADP have caused the markets to be wary.
Detailed economic calendar
#USD sharply turned to growth after a touch of 1.1300 for the #EUR. Over the past 24h, stock indices showed mixed dynamics, fluctuating between a decline (#ChinaA50, #Euro50) due to fears of trade wars and growth (#SPX, #Nikkei) on the hopes of more dovishness of the major Central Banks. #Brent has updated January lows, failing to develop a rebound. #Gold rolled back after touching $1340. #Bitcoin has recovered close to $8000.
Over the last 24 hours, Bitcoin adds half a per cent and trades around $7,850. Bitcoin is fighting for the $8K threshold, the same manner it once fought for previous threshold levels against the backdrop of one well-established pattern
Read more in our Bit-comment
Read more in our Bit-comment
On Thursday, attention is on the ECB meeting in anticipation of new steps to soften the tone of monetary policy.
Europe can both demonstrate active policy easing steps and promise something similar in the future. Such a wide range of expectations creates the potential for volatility in the markets.
#EURUSD failed to show growth above 1.1300
#Gold saw cautious purchases after profit-taking overnight
Chart of the day
ADP Employment data went showed growth of just 27K, sharply below expectations, that spurred a surge in market volatility.
Read more in the FxPro market review.
Europe can both demonstrate active policy easing steps and promise something similar in the future. Such a wide range of expectations creates the potential for volatility in the markets.
#EURUSD failed to show growth above 1.1300
#Gold saw cautious purchases after profit-taking overnight
Chart of the day
ADP Employment data went showed growth of just 27K, sharply below expectations, that spurred a surge in market volatility.
Read more in the FxPro market review.
🗓 Important upcoming events and publications for June 7 (GMT):
🇺🇸 12:30 U.S. Employment Report. Risks for USD: high. At the end of May, employment is expected to grow by 180K after 263K, maintaining the growth rate of wages at 3.2% y/y and the unemployment rate at 49-year lows of 3.6%. Weak data can cause pressure on the Dollar.
🇨🇦 12:30 Canada Employment Report. Risks for CAD: moderate. The report can be shadowed by that of the U.S. A modest increase in the number of employees by 5K is expected after the jump by 106.5K one month earlier. Weak data can cause pressure on the Canadian dollar.
🛢 17:00 U.S. Rig Count. Risks for Brent, WTI: moderate. The increased volatility of Oil prices recently forms the basis for sharp price movements in the publication of data. The number of working drilling rigs has been declining since the beginning of the year, but surprisingly slightly increased last week despite lower prices. Further growth could put pressure on oil.
Detailed economic calendar
🇺🇸 12:30 U.S. Employment Report. Risks for USD: high. At the end of May, employment is expected to grow by 180K after 263K, maintaining the growth rate of wages at 3.2% y/y and the unemployment rate at 49-year lows of 3.6%. Weak data can cause pressure on the Dollar.
🇨🇦 12:30 Canada Employment Report. Risks for CAD: moderate. The report can be shadowed by that of the U.S. A modest increase in the number of employees by 5K is expected after the jump by 106.5K one month earlier. Weak data can cause pressure on the Canadian dollar.
🛢 17:00 U.S. Rig Count. Risks for Brent, WTI: moderate. The increased volatility of Oil prices recently forms the basis for sharp price movements in the publication of data. The number of working drilling rigs has been declining since the beginning of the year, but surprisingly slightly increased last week despite lower prices. Further growth could put pressure on oil.
Detailed economic calendar
What reaction of EURUSD will be after the U.S. NFP Employment report?
Final Results
61%
Growth
33%
Decline
6%
Nothing
#Bitcoin continues to hold positions around $8K, confirming the consolidation phase after a sharp surge to $9K.
Read more in our Bit-comment
Read more in our Bit-comment
Markets were buyouts on Thursday on hopes that the US administration may postpone the date for the introduction of tariffs. #SPX grew 3.9% this week after soft start.
Another positive factor was speculation about Central Bank's easing soon.
#Gold and #EURUSD had unsuccessfully tried to hit above $1340 and 1.1300 respectively.
Chart of the day: #NFP
The expected growth by 180K is under question after very weak ADP data but ISM and Unemployment claims report did not confirm the ADP's drop.
Read more in the FxPro market review.
Another positive factor was speculation about Central Bank's easing soon.
#Gold and #EURUSD had unsuccessfully tried to hit above $1340 and 1.1300 respectively.
Chart of the day: #NFP
The expected growth by 180K is under question after very weak ADP data but ISM and Unemployment claims report did not confirm the ADP's drop.
Read more in the FxPro market review.
Well done! Our readers correctly predicted the growth of the EURUSD right after the Non-farm Payrolls.
At the end of the working week, #Bitcoin and altcoins demonstrate attempts to return to growth. No matter how paradoxical it may sound but correction and consolidation in accordance with the forecasts went as a positive factor for market participants, confirmed the retention of technical patterns. According to this pattern, after a rollback, the market will once again return to growth.
Read more in the FxPro Crypto Review
Read more in the FxPro Crypto Review
#WaveAnalysis: #NZDCAD is expected to fall further and retest the next round support level 0.8770
Read more
Read more
#WaveAnalysis: #NaturalGas is expected to fall further and retest the next round support level 2.200
Read more
Read more
🗓 Important upcoming events and publications for June 10 (GMT):
🇬🇧 11:30 U.K. GDP. Risks for GBP: high. It is expected to decrease by 0.1% mom in April, as well as a month earlier. Another report on the foreign trade deficit is expected to show a slight decrease from 13.7B to 13.1B. Higher values are favourable for the Pound.
🇨🇦 12:15 Canada Housing Starts. Risks for CAD: low. It is expected to decrease to 220K in May vs 235.5K a month earlier. However, the previous and expected levels are very high. Higher values are favourable for the Canadian dollar.
Detailed economic calendar
🇬🇧 11:30 U.K. GDP. Risks for GBP: high. It is expected to decrease by 0.1% mom in April, as well as a month earlier. Another report on the foreign trade deficit is expected to show a slight decrease from 13.7B to 13.1B. Higher values are favourable for the Pound.
🇨🇦 12:15 Canada Housing Starts. Risks for CAD: low. It is expected to decrease to 220K in May vs 235.5K a month earlier. However, the previous and expected levels are very high. Higher values are favourable for the Canadian dollar.
Detailed economic calendar
#USD adds on Monday after a drop on the last week. The Mexican peso (#MXN) grew by more than 2% after the fast the U.S.-Mexico trade deal. Stock index futures (#SPX, #Nikkei225, #FTSE100) grew by more than 1% on speculation about the Fed's policy easing. #Gold is rolled back from this year peaks. #Brent develops recovery.
Stocks (#SPX, #Nikkei225, #DAX30) grew and USDMXN fell by 2% at the start of trading on Monday on fast U.S.-Mexico trade deal progress. Moreover, stocks have another boost on speculations on possible Fed easing that puts pressure on the USD.
#EURUSD fell back under 1.1300 this morning but still have an upward trend.
#Gold retreats under $1330 after the jump to year-to-date highs on Friday.
Read more in the FxPro market review.
#EURUSD fell back under 1.1300 this morning but still have an upward trend.
#Gold retreats under $1330 after the jump to year-to-date highs on Friday.
Read more in the FxPro market review.
Bulls and bears are playing tug-of-war with #Bitcoin. BTC lost more than 3% over the past 24h and is trading just above $7,650
Read more in our Bit-comment
Read more in our Bit-comment