The Probability of a Recession In The US Is Approaching 100%

The Probability of a Recession In The US Is Approaching 100%

Happy Thursday, dear traders! Let's check what news is moving the markets today!

  • The US federal government had a cash reserve of $143 billion. These funds should be enough due June 5.
  • Jim Cramer (Mad Money host) said that the US would never face default. Because of his awful win rate in predictions, markets now expect the US default as something possible. 
  • The number of daily transactions in the DOGE blockchain reached an all-time high. Usually, increased activity is followed by a price rise. 
  • The US stock market is on the rise. US500 is testing the 4170 resistance again. In case of a breakout, the price will move to 4300. 
  • USDJPY broke above the 200-day moving average. If the price closes above 137.70, an uptrend may continue. 
  • CEO Goldman Sachs: “The US stock market will face a disaster if the US government doesn’t agree on the debt limit.”
  • Considering current Treasury yield spreads, the chance of a recession is now nearly 99.3% - 100%.

XAUUSD analysis


XAUUSD broke below the 100-period MA. Currently, it is trading above the 1973.00 support level. If the price slides below this support, it will move to the 1936.00 - 1951.00 range. As long as buyers hold this support, the price has a chance to return to 2005.00. 

Have a great trading session!  



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