Market Compass
Trade Agreements and the Fed
- Global markets continue to be buoyed by the recent trade agreements.
- On the other hand, while corporate balance sheets and macro indicators are closely monitored, questions about the independence of the US Federal Reserve (FED) continue to occupy the agenda. Today, US President Trump is scheduled to pay a visit to the FED.
- While losses in altcoins were notable in the bullish streak that Bitcoin did not participate in, BTC managed to record gains during European trading this morning.
- In major digital assets, the pressurized course continues with near-flat and intermediate reaction movements. In the rest of the day, macro indicators to be announced, the statements of the European Central Bank (ECB) and possible news after Trump’s visit to the FED may be decisive.
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Flash Manufacturing PMI is a leading indicator of economic health. Businesses react quickly to market conditions and purchasing managers have perhaps the most up-to-date and relevant estimate of the company’s outlook for the economy. The Purchasing Managers’ Index (PMI) is a survey of nearly 800 purchasing managers that asks respondents to assess the relative level of business conditions, including employment, production, new orders, prices, supplier deliveries and inventories. Above 50.0 indicates that the sector is expanding, while below 50.0 indicates contraction. There are two versions of this report, Flash and Final, published about a week apart. The Flash version is released on a preliminary and monthly basis, approximately 3 weeks into the current month. A below-forecast reading is expected to produce a positive result for crypto assets.
Highlight of the Day
Important Economic Calender Data
| Time | News | Expectation | Previous |
|---|---|---|---|
| 12:30 | US Initial Jobless Claims | 226K | 221K |
| 13:45 | US Flash Manufacturing PMI (Jul) | 52.7 | 52.9 |
| 13:45 | US Flash Services PMI (Jul) | 53.0 | 52.9 |
| 14:00 | US New Home Sales (Jun) | 650K | 623K |
Information
*The calendar is based on UTC (Coordinated Universal Time) time zone. The economic calendar content on the relevant page is obtained from reliable news and data providers. The news in the economic calendar content, the date and time of the announcement of the news, possible changes in the previous, expectations and announced figures are made by the data provider institutions. Darkex cannot be held responsible for possible changes that may arise from similar situations.
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