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USDJPY brief dip below 155.50 seemed to coincide with the earthquake headline.(last 155.52)
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Bitcoin ’rallies are for selling‘: Top 3 arguments from BTC market bears
Bitcoin BTCUSD climbed 14.50% from its recent lows of $80,600, inching back toward $93,000 as traders were at odds between a “comeback” by the bulls or the start of a bear market.
Key takeaways:
Analysts say Bitcoin’s rebound is a bull trap, with risks extending to as low as $40,000.
Google Trends suggests a rally toward $97,000 before the correction continues.1. Bear flag hints at a 16% BTC price dip next
2. Bitcoin can crash to $40,000 if 2021 fractal repeats
3. Bitcoin “crowd is terrified again,” per Google Trends
Newsquawk US Pre=Market Movers
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USDX (US DOLLAR INDEX)
- It should not be a surprise to see a 4=day pivot around 99.00 given that EURIUSD (68,6% of the index) is doing something similar around 1.1650
- This suggests for USDX to break away from 99.00, EURUSD would need to break away from 1.1650
- Current range: 98.80-99.17
USDX DAILY CHART
Newsquawk Daily US Opening News
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Forex Market Snapshot
- A cautious start to the week as all markets look ahead to Wednesday’s FOMC decision.
- EURUSD continues to trade on both sides of 1.1659 for the 4th day in a row
- GBPUSD iis down slightly on the day but off its low following a weaker UK jobs report. EURGBP is firmer.
- USDJPY is back above 155 after sdhruggi8ng o0ff another nbout of verbal intervention.
- Copper set another all time high following China trade surprise beat led by rising exports
- ECB’s Schnabel said he is comfortable with expectations the next rate move will be a hike but not anytime soon.
This Week’s Market-Moving Events
Global economic watchers face a packed week dominated by central bank meetings, inflation data, and trade figures across major economies. In the Asia-Pacific region, the Reserve Bank of Australia is widely expected to keep rates unchanged despite a slight uptick in inflation, while India and China release key CPI and PPI data that will signal whether recent disinflationary trends persist. Japan’s GDP revision is expected to show a deeper third-quarter contraction driven by weaker exports following U.S. tariffs, and sentiment and labor data from the region will further shape the outlook.
In Europe, Germany, the UK, Switzerland, and France will publish industrial production and inflation reports expected to show soft growth and modest disinflation. Meanwhile, Brazil is also set to hold rates steady as CPI edges higher. In North America, the Bank of Canada is projected to keep its policy rate unchanged, supported by stronger employment data.
The central event globally is the U.S. Federal Reserve’s FOMC meeting. With economic data still delayed from earlier reporting disruptions, policymakers must rely on an incomplete picture of the economy. Markets overwhelmingly expect a 25-basis-point rate cut as the FOMC weighs weakening job indicators against still-rising inflation. Chair Jerome Powell is expected to stress uncertainty, data dependence, and the absence of any “risk-free path” as the Fed navigates a mixed economic landscape (Econoday)
Market Update
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