Yesterday’s Market Wrap
Today’s Market Expectations
Today started with the Caixin manufacturing PMI from China which showed that activity remains weak. The final Eurozone services read for April came mostly unchanged, which shows that this sector is in decent shape. Later before the US session starts, the European Central Bank will hold it’s meeting and expectations are for a 25 bps rate hike to 3.75%, although they might surprise with a nigger-than-expected rate hike.
Yesterday markets were mostly quiet, with a slight bearish tilt on the USD, so the the volatility was low during the European session and most of the US session. So, we kept the number of signals low with the FOMC meeting approaching. We opened four trading signals, with one closing in profit and one in loss.
GOLD Still Heading for All-Time Highs
XAU/USD – 240 minute chart
EUR/USD Feeling Comfortable Above 1.10
EUR/USD – 240 minute chart
Cryptocurrency Update
The 50 SMA Holding BITCOIN Up
BTC/USD – Daily chart
ETHEREUM Remains Suported
ETH/USD – 240 minute chart
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