Market Overview - Page 27

The Nasdaq100 has returned to updating its highs, indicating the strength of Big Tech and positive market sentiment, with investors preferring technology companies for growth over other sectors.

According to lagging but broad data from S&P Global, the pace of housing price growth in the US slowed in April. Annual price growth slowed to 3.4% y/y, the lowest in nearly two years. More importantly, the last two months.

Oil broke downward trend resistance but failed to sustain offensive. Prices predicted to decline to $47 for WTI and $50.50 for Brent by year-end.

Despite a stabilization in the US housing market at a low level with a slight increase in sales, concerns remain due to growing unsold inventory and only a small price increase.

The US dollar has strengthened recently due to Israel's actions towards Iran, reversing the negative sentiment towards US assets. Market outlook and historical patterns suggest a potential shift in trend, affecting inflation and US debt markets.

Jerome Powell's speeches to Congress are central this week for insights about the US economy and monetary policy amidst uncertainties like armed conflicts and tariffs.

Traders are hedging against a potential BTCUSD correction amidst growing risks and uncertain Fed monetary policy. High demand for protection seen in Bitcoin options

The Fed predicts stagflation, affecting stock markets more than war fears. Trump wants lower interest rates to help stocks, but concerns about tariffs and conflicts persist.

The US dollar regains its safe haven status due to Middle East conflict, shifting focus from US economic issues.

GBPJPY: ⬇️ Sell – GBPJPY reversed from the resistance area – Likely to fall to support level 193.65 GBPJPY currency pair recently reversed down from the resistance area between the pivotal resistance level 196.00 (which has been reversing the price.

US retail sales fell 0.9% in May, returning to the level of three months ago. Economists on average had forecast a 0.7% contraction, following a 0.1% decline earlier and a 1.5% jump in March. Auto sales and lower fuel prices.

Switzerland may increase pressure on the franc to combat falling inflation, influenced by the currency's strength. The SNB is expected to lower its key rate, potentially leading to a weakening franc over the next quarters.