Several largest American companies will publish their financial results this week. BTCUSD and XAUUSD are skyrocketing. What's going on in the markets?
The Market Flies on News
Be aware this day is filled with PMI releases, so the market may act quite unpredictably. Still, there’s something you should know:
News of the day
- New Zealand Retail Sales are down 1.0% vs. a decrease of 0.4%. The NZD is slightly rising against the USD.
- French Flash Manufacturing PMI is above expectations (46.4 vs. 45.1). French Flash Services PMI is below expectations (46.7 vs. 47.5). This divergence shows a downturn in the services industry.
- Chinese President Xi Jinping has arrived in South Africa for the 15th BRICS summit and urged countries to become geopolitical rival to G7 block.
- Bitcoin RSI reached the lowest point since covid crash in 2020. However, the crypto market is slowly down.
- Bitcoin mining difficulty continues to rise, breaking the ATH almost weekly.
- India is about to land on the south pole of the moon. It may become the first time for the country to land on the moon.
- Europe gas prices are rising because of worker strikes in Australia which accounts for 10% of the world's LNG production. Gas reached $500 per metric ton.
Daily trade idea
We found this fascinating range on the GBPUSD pair. As usual, it’s wise to short the upper border of the range (1.2820) and long its lower border (1.26150).
However, we would recommend short trades because the overall trend is bearish.
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