S&P 500 Analysis: Worrisome Dynamics Ahead of Fed Decision

On the first of May, the US stock market turned out to be optimistic: the S&P 500 index exceeded the April maximum and approached the February maximum. The growth of the weekend was facilitated by the resolution of the crisis with the First Republic bank, which was bought by JPMorgan. According to former Treasury Secretary Larry Summers, most of the problems in the banking sector are over.

Bitcoin Sticks to Bull Trend on Banks'Woes

On Tuesday, Bitcoin recovered to $28.6K, over half of the previous day’s decline. Cryptocurrencies and gold gained momentum on the re-emerging woes of regional banks. This time it was PacWest Bancorp, Western Alliance and Metropolitan. However, we also note that the price stabilised before this news, suggesting that the selling momentum has subsided.

BTCUSD Analysis: Crypto Investors Reducing Risks

So far, the BTCUSD price is supported by the median line (1) of the rising channel, but it can be broken by the bears if USD 30k continues to resist the rally that has been in place since the beginning of the year.

All Eyes on Fed as Investors Fret About US Regional Banks

The Federal Reserve will announce its latest interest rate decision later today and investors will be hanging on their every word in light of recent banking sector instability.

Sunset Market Commentary

The looming Fed meeting meant subdued trading on financial markets which even a much stronger than expected April ADP jobs report couldn’t change for the better. Job creation rose by 296k, almost double the 150k expected and a sharp increase from last month’s 142k.

ISM Shows Steady-Eddie Services Sector in April

According to the ISM Services PMI there was a slight uptick in the growth rate of the services sector in April. It was due mostly to the increase in new orders, and ongoing improvement in both capacity and supply logistics. However, some respondents are "wary of potential headwinds associated with inflation and an economic slowdown." Looking at overall activity, the slowing trend that has been ongoing since 2021 remains intact.

ECB Set to Raise Rates, But By How Much?

All eyes will be on the European Central Bank rate decision on Thursday at 12:15 GMT. A rate increase is all but certain, yet its size is still up for debate. Market pricing is leaning towards 25bps, but some traders are still betting on a bigger 50bps move. The compromise might be the smaller rate hike accompanied by hawkish language, which could take some steam out of the high-flying euro. 

What Will Happen with the Euro? An Economic Perspective

Against the background of the gradual de-dollarization of the global economic system, the question of replacing the US national currency is increasingly being raised. Some experts have already started talking about the euro as such a replacement. This is unlikely, especially in the economic and geopolitical configuration of the EU, which is now present on the world stage. What is wrong with the EU, and what fate awaits the euro? About all this in our article today.

AUD/USD Stems the Bleeding

Australia’s inflation levels have been falling and the downward trend continued in the first quarter. The headline figure slowed to 7.0%, down from 7.8% in Q4 and a notch above the market consensus of 6.9%. On a quarterly basis, headline CPI from 1.9% to 1.3%, versus the market consensus of 1.4%. The monthly CPI for March fell from 6.8% to 6.1%, below the estimate of 6.6%.

Bitcoin Hits the Resistance But Does Not Give Up

Bitcoin’s rally accelerated late Wednesday after hitting $29K but ran into strong resistance as it approached $30K (the level passed on some exchanges). The inability to break above this level triggered a massive wave of capitulation. It quickly, but not for long, pushed the price back to $27K, the price at the start of the week. By Thursday morning, buying prevailed again, returning the price to $29K.