Stagflation, reccesion worries the concern for Markets as we head int oJuly
Hi there Traders,
So, new week. New opportunities. What’s in store for us this week. Well, today is the 4th of July – US Bank Holiday which means liquidity this afternoon will be shallow. Wednesday is an important day for the US Market. We have the US FED FOMC Meeting Minutes at 7 pm BST. Other important news events are
AUDCash Rate 1.35% 0.85% AUDRBA Rate Statement
USDADP Non-Farm Employment Chang
Everywhere you look there is anxiety. A couple of pairs stand out, while the rest are pants. Remain patient. At times like this, it is best to remain calm, and apply the rules that you have been taught. Big news later this week. FED, FOMC statement is going to be telling.
German Trade Balance came out below 0 for the 1st time in years—Contraction taking hold of the German economy. Recession worries will definitely be the talking point here.
Gold, Silver, and Copper continue to contract. Risk-Averse effect taking shape across the globe. Talk of global recessions has everyone concerned about STAGFLATION taking shape.
BTC Weekly Chart
Bitcoin has breached its Weekly 200sma. Not a good sign at all. The same thing has happened on a monthly too. Not a good sign at all. For July, we are looking at a bear continuation to be the outcome. Looking at the lowly $12k level as a LT target.