US Wrap

Markets closed out the trading week in strong fashion as the attention moves away from jobs and back to central banks.

All the talk on Friday was the jobs report and we saw a better than expected number with 850K new hires, which markets appeared to lap up. The SPX shot higher even with the belief that rates will rise sooner rather than later.

Interestingly, the Greenback did drop away a bit and that helped the commodities such as WTI and GOLD.

The Data Agenda

The week ahead has a few interesting data points, but nothing all that big. The main focus will be on the release of the minutes from both the FOMC and the ECB.

We know that the FOMC pulled their rate hike expectations forward and there will be plenty of interest if there is any more clarity around that.

For the ECB, a rate hike is not something anyone is all that familiar with, so any hint of one would be a real change of pace.

Today is the 4th of July Holiday in the US and most markets will be either closed or seeing limited volume.

Forex Signal Update

The FX Leaders Team hit 5 winners from 9 trades in what was a very quiet week of trading.

XRP – Active Signal

XRP continues to hold under the 70 cent level. We saw some upside access the entire sector but those gains are coming back now in the new week.

EUR/USD – Active Signal

The EUR/USD is battling the 1.1850 level as we speak but is still clearly making lower highs, which is bearish. We remain short.

Cryptocurrency Update

BTC bounced yesterday as the buyers swept the price back up through the $35,000 level. However, the gains were short-lived as the sellers are coming back in today.

The focus on the sector continues to be around what is going on with the Chinese mining crackdown as well as the nature of the assets that are backing the major stable coins. To me, things are rapidly coming to a head.