Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
The Most Important News For Today
Information is not investment advice
We’d like to wish you a lucky day on the markets. Let’s take a peek at the most critical events.
Economic calendar
Swiss National Bank raised the rate by 50 basis points to 1.5%. The Central Bank does not rule out further rate hikes. As a result, USDCHF dived to 0.9120 and then recovered. Pay attention to this pair, guys.
Bank of England (so-called ‘Old lady’) hiked the rate by 25 basis points to 4.25%. Volatility in GBPUSD rapidly increased. The long-term trend is still bullish, but the resistance of 1.2450 is close.
US Building Permits was published better than the forecast (+1.550M VS 1.524M in the forecast). So, the previous preliminary fact was corrected. Do you know that building permits statistics lead housing starts by 1 to three months?
US new home sales for February were worse than expected – 640K VS 650K (the forecast). It means that existing home sales may fall too.
UK Retail sales were released today. The index increased by 1.2% MoM. Core retail sales that exclude Auto sales and Fuel and thus reflect the situation with the consumption better rose by 1.5%: the more consumption, the better the national GDP.
15:30 GMT+3 will be pretty volatile, dears. Retail sales in Canada and Durable goods orders in the US are published. All eyes are on USDCAD.
BTCUSD and XAUUSD
BTCUSD moves down. Maybe it will try to close the gap. In this case, the price should return to $27400.
XAUUSD is correcting too. The nearest support level is 1975 (38.2% Fibo level).
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Will the CPI Crash the USD?
The most impactful releases of this week will fill the market with volatility and sharp movements.
Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
The US Labor Market And Real Estate Market Are In Focus This Week
Labor Market and Real Estate Market data was published yesterday. Markets are slowing down, so the economy is in recession. Today the traders should pay attention to the Retail sales in Canada.
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