Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
Trade ideas on June 7-11!
Information is not investment advice
Don’t expect to relax after a super volatile previous week! The market is getting ready for yet another roller-coaster!
Trade ideas
EUR/USD
The pair awaits the ECB Interest Rate Decision and the US Inflation Rate on Thursday. We expect a lot of volatility if the ECB follows the recent rhetoric of the FOMC members on stimulus reduction. As for the US Inflation, it may strengthen the US dollar significantly if it exceeds the forecasts.
USD/CAD
The Canadian dollar is enjoying high oil prices and the Bank of Canada’s small steps towards tapering. Since the middle of May USD/CAD has been consolidating right above the psychological support of 1.2000. If the BOC provides signals on more stimulus reduction this Wednesday, the breakout of this level will be highly possible.
Gold
After breaking above 1900, bulls could not hold the asset at the highs last week. Again, the focus will be on the US Inflation Rate. If the USD gets positive momentum once again, the precious metal will drop.
Oil
The OPEC+ meeting provided an optimistic outlook on demand last week and pushed the oil prices higher. The price of Brent broke above $71.50 and the price of WTI stuck above the recent peak of $67.80. While the talks between the world powers and Iran on the nuclear deal are set to continue this week, we may expect more price swings in the oil market.
Tesla
Tesla’s stock dropped last Friday on the news about disappointing sales figures in China. Additionally, that, Tesla’s CEO Elon Musk keeps expressing his anger towards Bitcoin on Twitter. His comments may have an impact on the stock of the automaker as well. Don’t miss the chance!
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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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