Bitcoin could not resist the $10,924 level and fell below the 50-day SMA on Tuesday.
5 important events this week will bring us!
- Speech by the Fed chair Jerome Powell (Tue, 20:00 MT (17:00 GMT time)) – After the dovish Federal Reserve, it would be interesting to hear the fresh comments by Jerome Powell.
- RBNZ rate statement (Wed, 5:00 MT (2:00 GMT time)) – The Reserve bank of New Zealand will keep its interest rate on hold this time, but we will pay attention to the hints on the future changes to its monetary policy.
- US final GDP growth (Thu, 15:30 MT (12:30 GMT time)) – According to the forecasts, the level of final GDP growth for the United States will advance by 3.1%. Higher figures will be supportive for the USD.
- G20 meetings (Friday-Saturday) – The event is highly important as US president Donald Trump and Chinese President Xi Jinping are expected to meet there to discuss trade issues. The positive outcome of the meeting will set the risk mood in the market.
- Canadian GDP growth (Fri, 15:30 MT (12:30 GMT) – The indicator is expected to increase by 0.2%. If the actual figures are higher, the Canadian dollar will rise.
- As the market patiently anticipates the meeting between the US and Chinese presidents during the G20 Summit, the risk sentiment in the market has got softer on the comments by the Chinese Commerce Ministry. According to his words, both countries should be willing to make compromises.
- After the victory of the opposition party in Istanbul mayor election, the Turkish lira has strengthened. This is a big hit to Erdogan’s ruling party.
- The price for Bitcoin has tested the levels above $11,000 during the weekend.
- US Secretary of State Mike Pompeo promised significant sanctions on Iran soon. It pushed the oil prices higher.
The level of retail sales released today came out lower than the forecasts.
Will Friday be more optimistic for the USD?
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