Last week in the news
Newly emerged tensions in the Middle East impact market sentiment as of the end of the previous week. The US equity markets reacted in a negative manner, bringing the S&P 500 down by more than 1%. The US Treasury yields started their relaxation during the week, however, reversed on Friday back to the level of 4,4%. The US Dollar lost in value, however, the demand for safe-haven assets pushed the price of gold more than 1,4% higher, ending the week at the level of $3.443. The BTC had a rollercoaster week, with highs at $110K, but is ending the week above the $104K level.
The previous week started in a promising sentiment. The US May inflation data was posted, indicating a clear down trend. The inflation in May reached the level of 0,1%, bringing it to the level of 2,3% compared to the previous year. Core inflation was also standing at 0,1%, while both figures were slightly better from market estimates. The week-end brought the University of Michigan Consumer Sentiment preliminary for June, where inflation expectations were also decreased. Yearly inflation expectations significantly dropped to the level of 5,1% from 6,6% posted for the end of May. The five year inflation expectations were also decreased from 4,2% to 4,1%.
The inflation data supported market expectations that the Fed will hold interest rates unchanged at their meeting in June, but increased odds for the next cut in September. The FOMC meeting is scheduled for June 18th, together with macro projections. Analysts are pointing that the macro projections will be in the spotlight of investors, as they are still trying to wage the total impact of the imposed trade tariffs. At their May meeting, it has been shortly noted by Fed Chair Powell that the risks of both higher inflation and unemployment had risen. As data are showing that the inflation is slowing down, the increasing unemployment might impact the Fed to cut interest rates in order to fulfil their dual mandate.
The new unrest in the Middle East is another topic that puts concerns among investors. Seeking safe-haven assets, the price of gold gained 1,4%, only on Friday trading. The investors are also concerned that the surging prices of oil, due to the crisis, might spillover to the US inflation figures in the coming period. Although the US at present moment, is not highly exposed to the volatility of oil prices on world markets, still, analysts are pointing to the effect which might come from increased commodity prices, as a consequence of surged oil prices. This will be another topic closely watched at the FOMC press conference on Wednesday.
Interesting news came from Sweden. As Reuters was reporting, the Swedish pension fund AP7 blacklisted shares of Tesla and sold the whole stake. As announced by the fund “ AP7 has decided to blacklist Tesla due to verified violations of labor rights in the United States”. Nevertheless, shares of TSLA gained 1,94% in Friday's trading session.
CRYPTO MARKET
The rollercoaster on the crypto market was evident during the previous week. The newly emerged Mid-East crisis left its market also on a crypto market. The coins were traded in a mixed manner, but ended the week in a negative territory. On the other side were a few coins which managed to end the week in green. Total crypto market capitalization decreased by 1% on a weekly basis, losing around $22B from the market cap. Daily trading volumes were relatively flat compared to the week before, moving around the $185B on a daily basis. Total crypto market capitalization once again entered into the negative territory from the beginning of this year, currently standing at minus 1%, with a total outflow of $20B.
BTC ended the week flat from the end of the previous week, although the price of coin at one moment reached the level of $110K at the beginning of the week. ETH managed to gain 1% in value, adding $3B to its total capitalisation. Other gainers among altcoins were Uniswap with a surge in value of 17,3% and Maker, with an increase in value of 23% on a weekly basis. The major coins on the market were traded with a negative sentiment. Market favorite Solana ended the week by 4,7% lower from the week before, losing $3,75B in its cap. BNB was modestly down by 1%, while DOGE decreased its value by 4%.
Although Solana was traded with a negative sentiment, still, the coin managed to increase its total coins in circulation by 0,5%. This week IOTA had a stronger increase of total number of coins on the market by 0,8%. The majority of other altcoins had an increase of coins in circulation by 0,1% w/w.
Crypto futures market
The latest drop in the value of BTC and ETH was not reflected in the prices of crypto futures as of the end of the week. BTC futures ended the week higher by around 0,6% for all maturities, while ETH futures had an increase of around 1,5% on a weekly basis.
BTC futures maturing in December this year closed the week at $109.390 and those maturing a year later were last traded at $115.590. At the same time ETH futures with maturity in December this year closed the week at $2.637, and those maturing in December 2026 were last traded at $2.838.
Newly emerged tensions in the Middle East impact market sentiment as of the end of the previous week. The US equity markets reacted in a negative manner, bringing the S&P 500 down by more than 1%. The US Treasury yields started their relaxation during the week, however, reversed on Friday back to the level of 4,4%. The US Dollar lost in value, however, the demand for safe-haven assets pushed the price of gold more than 1,4% higher, ending the week at the level of $3.443. The BTC had a rollercoaster week, with highs at $110K, but is ending the week above the $104K level.
The previous week started in a promising sentiment. The US May inflation data was posted, indicating a clear down trend. The inflation in May reached the level of 0,1%, bringing it to the level of 2,3% compared to the previous year. Core inflation was also standing at 0,1%, while both figures were slightly better from market estimates. The week-end brought the University of Michigan Consumer Sentiment preliminary for June, where inflation expectations were also decreased. Yearly inflation expectations significantly dropped to the level of 5,1% from 6,6% posted for the end of May. The five year inflation expectations were also decreased from 4,2% to 4,1%.
The inflation data supported market expectations that the Fed will hold interest rates unchanged at their meeting in June, but increased odds for the next cut in September. The FOMC meeting is scheduled for June 18th, together with macro projections. Analysts are pointing that the macro projections will be in the spotlight of investors, as they are still trying to wage the total impact of the imposed trade tariffs. At their May meeting, it has been shortly noted by Fed Chair Powell that the risks of both higher inflation and unemployment had risen. As data are showing that the inflation is slowing down, the increasing unemployment might impact the Fed to cut interest rates in order to fulfil their dual mandate.
The new unrest in the Middle East is another topic that puts concerns among investors. Seeking safe-haven assets, the price of gold gained 1,4%, only on Friday trading. The investors are also concerned that the surging prices of oil, due to the crisis, might spillover to the US inflation figures in the coming period. Although the US at present moment, is not highly exposed to the volatility of oil prices on world markets, still, analysts are pointing to the effect which might come from increased commodity prices, as a consequence of surged oil prices. This will be another topic closely watched at the FOMC press conference on Wednesday.
Interesting news came from Sweden. As Reuters was reporting, the Swedish pension fund AP7 blacklisted shares of Tesla and sold the whole stake. As announced by the fund “ AP7 has decided to blacklist Tesla due to verified violations of labor rights in the United States”. Nevertheless, shares of TSLA gained 1,94% in Friday's trading session.
CRYPTO MARKET
The rollercoaster on the crypto market was evident during the previous week. The newly emerged Mid-East crisis left its market also on a crypto market. The coins were traded in a mixed manner, but ended the week in a negative territory. On the other side were a few coins which managed to end the week in green. Total crypto market capitalization decreased by 1% on a weekly basis, losing around $22B from the market cap. Daily trading volumes were relatively flat compared to the week before, moving around the $185B on a daily basis. Total crypto market capitalization once again entered into the negative territory from the beginning of this year, currently standing at minus 1%, with a total outflow of $20B.
BTC ended the week flat from the end of the previous week, although the price of coin at one moment reached the level of $110K at the beginning of the week. ETH managed to gain 1% in value, adding $3B to its total capitalisation. Other gainers among altcoins were Uniswap with a surge in value of 17,3% and Maker, with an increase in value of 23% on a weekly basis. The major coins on the market were traded with a negative sentiment. Market favorite Solana ended the week by 4,7% lower from the week before, losing $3,75B in its cap. BNB was modestly down by 1%, while DOGE decreased its value by 4%.
Although Solana was traded with a negative sentiment, still, the coin managed to increase its total coins in circulation by 0,5%. This week IOTA had a stronger increase of total number of coins on the market by 0,8%. The majority of other altcoins had an increase of coins in circulation by 0,1% w/w.
Crypto futures market
The latest drop in the value of BTC and ETH was not reflected in the prices of crypto futures as of the end of the week. BTC futures ended the week higher by around 0,6% for all maturities, while ETH futures had an increase of around 1,5% on a weekly basis.
BTC futures maturing in December this year closed the week at $109.390 and those maturing a year later were last traded at $115.590. At the same time ETH futures with maturity in December this year closed the week at $2.637, and those maturing in December 2026 were last traded at $2.838.
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.