Yesterday’s Market Wrap
Today’s Market Expectations
Today the economic data has been light during the Asian and European session, with the French Industrial production and Spanish Unemployment Change released a while ago. Although we have some important data to be released from the US later on, such as the Non-Farm Employment (NFP) Change which is expected to be weaker, the Unemployment Rate for May which is expected to tick higher to 3.5% and the Average Hourly Earnings.
Yesterday the volatility remained high as risk assets surged on better Chinese Caixin manufacturing, which improved the sentiment, together with lower inflation indicators from the US. The USD got beaten up and we got caught on the wrong side with two forex signals, since we were long on the USD from the day before.
GOLD Testing the 50 Daily SMA
XAU/USD – Daily chart
EUR/USD Breaks Above the 50 SMA
Cryptocurrency Update
Buying the Retreat in BITCOIN
BTC/USD – Daily chart
The 50 SMA Hold As Support for [Ethereum]]
In recent weeks, the buying pressure for Ethereum has slowed down, and we have witnessed a retreat in its price over the last few days. However, the correction appears complete as the 100 SMA (green) held as support for ETH/USD and buyers pushed the price above the 50 SMA as well. Now it seems that this moving average has turned into support.
ETH/USD – Daily chart
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