The market is still recoiling from the events of Wednesday as the FOMC is still leaving its mark on the market. Overall, the USD has shown its strength against all other currencies and especially the EURUSD which has dropped heavily below the 1.1900 and trades just below it. Gold is not any better as it trades at March 2020 levels, while traders are waiting for the US inflation rate to understand how to trade as time goes by. Bitcoin, on the other hand, seems to be trading in a tight consolidation right at the $38,000 as it waits for more information on how to continue. With that said, let’s find out how the markets are doing on June 18th, 2021.
The biggest event of yesterday was the FOMC decision rate, and what an event it was. The market reacted heavily to the hawkishness that was shown through the statement, dot-plot, and press conference. We witnessed how the EURUSD and XAUUSD took the brunt of the attack causing the instruments to fall heavily during the night. Each of those instruments have been showing some negative pressure, however, that was exasperated when the decision came out. During all this, Bitcoin remained trading in it’s normal range after its failure to break above the $41,000 resistance. The focus in the market now shifts to how investors react to the FOMC drama. With that said, let’s find out how the markets are doing on June 17th, 2021.
The FOMC is right around the corner as market participants have become a bit jittery thanks to the multitude of information that’s going to be blasted at them. There’s going to be the decision on interest rates, the economic projections, dot-plot, and Powell’s speech, all of which will hold their weight and are going to affect the market in one way or another. The EURUSD and XAUUSD are both adopting the Wait-And-See approach until the time of the event when traders will decide which way to trade. Bitcoin, however, couldn’t care less as it focuses on breaking above the $41,000. With that said, let’s find out how the markets are doing on June 16th, 2021.
The market is all hyped up for the upcoming FOMC tomorrow. The market is trying to understand what the Fed will do in terms of inflation and whether tapering talks on QE are a thing. This has caused the EURUSD and Gold to consolidate their respective losses above their supports and look for fresh information to decide their next move. Bitcoin was unfazed by that and focused more on what Elon Musk will say or do, as it seems to have hit a resistance at $40,900. With that said, let’s find out how the markets are doing on June 15th, 2021.
This week is promising to be one very volatile, as the new developments concerning the G7 as well as the upcoming Fed policy decision. This has affected both the EURUSD and XAUUSD which have dropped severely as the thought of a stronger dollar is keeping any gains on a tight lid. Bitcoin saw the opposite as it rose towards $40,000 because of the latest tweet from Elon Musk. With that said, let’s find out how the markets are doing on June 14th, 2021.
Super Thursday has come and gone as markets digest the higher-than-expected Consumer Price Index (CPI) figure. However, the Fed might simply look at the increase as transitory which is forcing the weakness in the USD. This was shown in the movement of EURUSD and Gold which both faced bearish pressure but then started to rise higher after the move downwards. Bitcoin seems content to trade at the current stance as it waits for some fresh impetus. With that said, let’s find out how the markets are doing on June 11th, 2021.
Super Thursday is upon us. The ECB (European Central Bank) and the US Consumer Price Index (CPI) are both set to be released later today as the market is gearing up for an increase in the volatility in the market. The EURUSD and Gold are both feeling the pressure of the upcoming economic events as traders stick to the sidelines before committing to a direction. Bitcoin has seen some bullishness as it has managed to move above the Moving Averages on the 4-hour chart as traders hope to reach $40,000. With that said, let’s find out how the markets are doing on June 10th, 2021.
The market is preparing for Super Thursday as market participants have decided to calm themselves ahead of the economic release. They are playing on the sidelines until concrete data has been observed before entering the market. EURUSD and Gold are both consolidating their gains after yesterday’s mild decline, now the focus is on Thursday’s data release. Bitcoin is also trading on the lower end of the spectrum as more analysts are joining the bandwagon of a bearish cycle starting on the instrument. With that said, let’s find out how the markets are doing on June 9th, 2021.
After the NFP (Non-Farm Payroll) release last Friday, the market is switching its focus towards the inflation result from the US, which is expected to be released on Thursday. The USD has gained some strength against virtually all counter-parts as the risk-off mood began to perpetuate across the market. The EURUSD found resistance at 1.2200 before some bearishness took over. The same can be said for the XAUUSD which managed to rise towards $1,900 before it dropped. Bitcoin is facing a new Bearish Cycle as more and more downward pressure is forming on the instrument. With that said, let’s find out how the markets are doing on June 8th, 2021.
The market is still recovering from the NFP (Non-Farm Payroll) release from last week as they digest the lower than expected figure. The EURUSD and Gold were trading higher during the opening of the week, however, they seem to be succumbing to the negative pressure. This is coming from the overall bearish risk-off mood in the market which gives the USD the needed push higher. Bitcoin, on the other hand, is trading in a clear sideways manner as it tries to ignore the latest Elon Musk tweet on the duo parting ways. With that said, let’s find out how the markets are doing on June 7th, 2021.
The markets are in a state of lull after the better than expected ADP NFP and ISM PMI release yesterday. They currently are waiting for more information from the actual NFP, which is set to confirm the movement in the US employment market. They will also be waiting on Jerome Powel’s speech concerning tapering talks, but the main focus will be on the NFP. EURUSD and Gold have both suffered great losses and are now trading in a sideways pattern with bearish bias prior to the event risk of the day. Bitcoin, on the other hand, remains quite stable below the $40,000, but seems to be on the verge of more downside pressure, so traders will be waiting for information to decide which way to move. With that said, let’s find out how the markets are doing on June 4th, 2021.
Markets all focused on today’s economic calendar as the ISM Services PMI (Purchasing Managers Index) in the US as well as the NFP (Non-Farm Payroll) employment data. All of which will have a definite impact on the EURUSD and Gold. EURUSD seems to be under pressure as it fails to break above 1.2250 and has sent the instrument to 1.2200. Gold is feeling the pressure as it has been unable to break above the $1,910 for the third time and negative pressure seems to be mounting once again. Bitcoin continued to trade in a sideways manner as the pennant formation on the 4-hour chart is pushing the downward scenario more. With that said, let’s find out how the markets are doing on June 3rd, 2021.
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