When will the US go bankrupt? Will it start the market crash unseen before? We have plenty to share with you, so let’s get started.
Did NZDUSD reach its pivot point?
New Zealand economy
Electronic Card Retail Sales for April grew by 0.7% in New Zealand. NZDUSD has almost reached its resistance cluster zone (between 0.63800 and 0.63900).
RBNZ’s rate is one of the highest among the developed economies (5.25%). It means the Central Bank has almost no room to increase the rate. Moreover, New Zealand is a net exporter to the US. The lower is NZD, the better is for the economy.
The global situation
Australian retail sales increased by 0.4%, as expected. Consumption surpassed the previous fact (0.2%). AUDUSD reached 100MA. The possibility of the correction is relatively high.
According to the Halifax Bank of Scotland, the House Price Index in April dropped by 0.3%. The real estate market in Great Britain is slowing down. That’s unsurprising, considering the mortgage rate at its historical maximum of 7.22%
XBRUSD is slightly recovering. The nearest resistance level is 77.60. We expect that the price may reach it soon.
Bitcoin fell below 50MA. The price has almost touched the 27000 level (the support line). The local trend is bearish, but globally, the bullish tendency prevails.
XAUUSD is rising. All the trend lines are heading up. 2050 is the next resistance level for the price.
Considering current Treasury yield spreads, the chance of a recession is now nearly 99.3% - 100%. Read the full report to learn more!
It’s Wednesday, the froggy day for the whole internet. Here’s news that moves the market:
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!
The United States has one week before default, and NVIDIA may become the next Tesla. What else drives the market?
Some progress in US debt ceiling talks is made, and the PMI data is out.