US Wrap

Markets ended the week in relatively mixed fashion as we push towards the latest US jobs data on Friday.

For the most part, we continue to see equity markets trading right up to their all-time highs, however, there will be a few events this week that could throw a spanner in the works.

One of the most interesting for me is the fact that the results from the Arizona audit are now complete. That could mean we start seeing some very interesting headlines over the coming few days, which could very well spook markets when it becomes clear just how widespread US voter fraud has been in 2020.

The other major event to watch is BASEL III and what that means for precious metals markets. Physical metal has been very strong in the last 12 months and this is an event that will continue to put upward pressure on both GOLD and SILVER.

The Data Agenda

The main event of interest this week on the economic calendar is clearly going to be the US jobs report on Friday.

The last two months have seen expectations very high but the misses have been very bad. Will this trend continue?

The June report is expected to show 675,000 new jobs, with the unemployment rate down to 5.7% from 5.8%. Along the way, we also get the ADP number and jobless claims, so jobs are certainly the theme of the week.

Forex Signal Update

The FX Leaders Team hit 7 winners from 14 trades as we closed out a number of open positions.

XRP – Active Signal

XRP has been holding the 60 cent level quite well as the entire sector was green on Sunday.

EUR/USD – Active Signal

The EUR/USD appears to be running into selling pressure at 1.1950 and this is good news for our short signal.

Cryptocurrency Update

BTC has had a strong weekend in the end after it looked like price was once again going to try and take on the $30,000 level.

In the end, the buyers swooped back in and ran price back up to the $35,000 

Another failure at this level, would make a lower high and be bearish.

So far, the entire sector has bounced nicely as a result. However, I’m still very nervous about regulation and also the dodgy unbacked stable coins like Tether.