The US Macroeconomic Data Underperformed Expectations

The US Macroeconomic Data Underperformed Expectations

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

  • According to Bloomberg, speculators are betting on further gold growth. April call options on gold with a strike price of $2100 are very popular now. 
  • Santiment: Biggest one-time $500 million transaction happened in half a month. BTC recipient 5th most significant among all BTC wallets (bullish in the long term).
  • Trump calls the day of his arrest "the best day in history." The ex-president said that against the backdrop of his arrest, his ratings soared to new heights, and he managed to raise $10 million for the election campaign. Moreover, in two weeks, Trump's popularity among Republicans increased by 10%.
  • The Reserve Bank of India voted unanimously to hold its key interest rate at 6.5%, pledging to act if needed. 
  • Iran and Saudi Arabia agreed to resume bilateral visits of official delegations and delegations of the private sector. The parties also signed a joint statement in China, agreeing to resume flights and simplify visas for citizens.
  • Apple is set to open its first official retail store in India soon, a landmark move for the iPhone maker, which is placing big bets on the South Asian nation for everything from manufacturing to sales.
  • ADP Non-Farm Employment Change is below expectations (145K vs. 208K expected). US ISM Services PMI also underperformed expectations (51.2 vs. 54.3).

USD analysis

US dollar index, H1 chart


The US dollar index is declining toward the major support level of 100.90. In the H1 timeframe, the price is trading under the resistance descending trendline, confirming the downtrend. As long as the price moves under this trend line and above 100.90 traders might consider selling the US dollar against other currencies. 

Have a great trading session!


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