Bitcoin price watch trading the week ahead
With public testimony from global central bank leaders and key data releases on the way, this week promises to be fun and eventful for well-prepared traders. This week should be fun with a layered global economic docket equally filled with appearances from global financial leaders, bitcoin price watch trading the week ahead well as market moving data releases.
Heightening the intrigue, Mr. Powell is making one of his first appearances as leader of the United States Federal Reserve. Look for carefully worded statements to be surgically parsed by traders eager to gain insight on the rate path for the United States. It is generally accepted the Fed has been considering bitcoin price watch trading the week ahead rate hikes this year.
Any hint at further tightening could have major impacts on the dollar in trading this week. As we move to the back half of the week, trading action should be punctuated by several key data releases. Bitcoin price watch trading the week ahead is a snapshot of key themes and questions we will be working through as we look for opportunities in the week ahead. The Yen has benefitted from a solid mix of positive economic news at home over the past few weeks.
Last week, the dollar attracted some strength and corrected off its early year swoon, and the Yen rally abated somewhat. This week, the pair should again be almost exclusively be driven by events surrounding the dollar. The most important aspect bitcoin price watch trading the week ahead any change in market expectations for future rate hikes emerging either from Fed commentary or US data.
The franc has had several quiet trading weeks during which time it has risen versus the dollar. This follows a few months of slow and steady strength bitcoin price watch trading the week ahead formed generally under the radar, which comes against a backdrop of the past few years where the Swiss franc has largely taken a backseat to other major currencies.
The currency enters this week primed for potentially larger moves as a series of important data releases will grab the attention of traders.
Monday brings the national employment report, coming on a fairly quiet day for major data releases. On Thursday the country releases GDP data. Any over performance this week for the swissie could lead to outsized upside for the franc this week. Traders should also be mindful of this currencies historic correlation with gold, and its potential as a safe haven if any uptick in volatility roils capital markets even marginally. After a shocking fall to around 6, in early February, the crypto has drifted higher and seemed to be on the mend.
That rally paused over the last week and bitcoin price seems to be challenged in its approach to cross and remain above the psychologically important 10, level. It should be an interesting mix this week for bitcoin. Expect the relatively rare pairing of high volatility in a tightly defined range while the market consolidates and searches for a new direction.
The bitcoin futures curve is effectively flat, a further signal we could see a sharp move in either direction at any time. The oil recovery from last years depths has been remarkable in its resilience.
One would naturally expect a note of fragility to tinge this rally given the fact that many dynamics that could imperil oil's rise are still in play. Inventories are only at about the midpoint of a five year average range according to Energy Information Ageny EIA and active drilling continues to tick up in the US. In another nuance for global markets to consider, OPEC is publicly reaffirming its commitment to continuing with production curbs but behind the scenes some countries could certainly be looking for an exit strategy.
We expect a return to an incremental storage build for oil. Given the recent ascension in price off of storage draws, traders should prepare for a potential dip on Wednesday in the event bitcoin price watch trading the week ahead is a storage build due to increases in drilling. Bitcoin price watch trading the week ahead certainly should be a lift in growth prospects over time due to the economic stimulus that was passed last quarter, however, how much it accelerates growth, how soon it takes hold, and what the duration can be given the lateness in the current economic cycle is all an open question.
This GDP reading is important as its the last before tax policy changed, and should give market watchers a baseline heading into for US growth expectations. Watching especially closely will be the Fed. One of the major drivers all year will be Fed rate hike expectations, and a reading from Q4 of last year showing acceleration beyond the expected trend could foster a resumption of overtly hawkish expectations from the central bank.
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Nadex is subject to U. Fill out our online application in just a few minutes. How Vulnerable is Bitcoin? How long can that streak of good news continue? This week could be the week the news starts to tilt against oil bulls. Mounting Speculation on US data and policy Nonfarm payrolls is on deck next week, which could help drive market themes through Q2.
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