Several largest American companies will publish their financial results this week. BTCUSD and XAUUSD are skyrocketing. What's going on in the markets?
USD Gains Momentum
Happy Friday, dear traders! Let's check what news is moving the markets today!
- Goldman predicts US Treasury funds will run out on June 9. US Treasury's cash balance dropped below $50 billion.
- After a pause in raising rates, the Central Bank of New Zealand said that rates would be high for a long time.
- Natural gas prices in Europe could briefly turn negative in the near term if sluggish demand does not equal a growing gas supply glut.
- Nvidia is close to becoming the first $1 trillion chip maker.
- Yesterday, Germany officially entered the recession. The DE30 index has probably marked its highs for a long time.
- Traders fully priced in another quarter-point interest-rate increase by the Federal Reserve within the next two policy meetings.
- Ron DeSantis, US Florida Governor, stepped into the presidential elections from the Republican party. He’s a pro-crypto person.
US dollar index outlook
The US dollar index broke above the 61.8 Fibonacci level, 104.00. If the price holds above this support, an uptrend toward 105.80 might continue, which is a 1.75% potential gain.
On the other hand, if the price loses 61.8 Fibonacci level, it might slide to 50.0 and 50-period MA.
The dollar's status as the world's reserve currency could only be recovered if the US controls its spending. The huge budget deficit and rising interest rates on the US national debt should scare every American, analysts say. Read the full report to learn more!
Chinese investors are selling the UST. Meanwhile, the earning season continues. What's going on in the markets?
The Japanese yen fell to its lowest level against the US dollar in 33 years. Read the full report to learn the next target for USDJPY!
The US stock market fell in the third quarter. What's going on and why economists think that the last quarter will be better? Let's discuss it all here.
BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today. Read the full report to get more fresh news and technical analysis!