Today, the focus is on the Fed’s pessimistic statements, rising unemployment in Sweden, as well as bitcoin futures.
News
The U.S. Federal Reserve plans to support the economy for years. Affects the S&P 500
Sweden’s unemployment rate has risen to its highest level since 2010. Affects EUR
The largest cryptocurrency exchange has launched quarterly Bitcoin futures. Affects BTC
Morgan Stanley expects lower interest rates from the Bank of England, below zero. Affects GBP
The United Kingdom is beginning to emerge from quarantine restrictions. Affects FTSE 100
Calendar
06:00 GMT
The U.K.’s monthly GDP report will be published. It is expected to decrease by 18.7%. If the real data is higher, GBP may strengthen.
Technical Analysis
Bitcoin
The launch of Bitcoin futures of one of the largest cryptocurrency exchanges can lead to an increase in asset volatility, since buying futures is cheaper than buying Bitcoin.
In the coming days, we may see a breakdown of the psychological level of 10,000.
Basic dollar index
The U.S. dollar index has reached its support level. This indicates a possible change to a bullish trend.
AUD/USD
The currency pair’s chart formed the “Double Top” reversal formation. There is a high probability of a continuation of the trend for the weakening of AUD.
AUD/USD on this day in history
- Since 2000, June 12th has been a trading day 14 times.
- On 57% of those days, the asset finished trading with growth.
- The maximum strengthening range was 1.03%.
- The downward trend was limited to 1.27%.