MARKET COMPASS
War Agenda in the Markets
- Despite a statement from the White House before the weekend that Trump had set a two-week deadline for attacking Iran, the US launched strikes over the weekend targeting Iran’s nuclear facilities.
- Iran’s response is eagerly awaited, and whether or not to close the Strait of Hormuz, which is critical for the oil market, seems to be an important step.
- Considering the importance of the developments, it would not be wrong to say that the reaction of the markets is limited. Bitcoin, which was sold below the 100 thousand threshold level yesterday, albeit for a short time, recovered somewhat afterwards.
- We see no change in the underlying bullish dynamics for the major digital assets and maintain our bullish view for the long term.
- Possible statements from Iran and the US and US macro data will be monitored during the day. In addition, ahead of US Federal Reserve Chairman Powell’s speech, the evaluations of Federal Open Market Committee (FOMC) officials at various organizations will be monitored today.
By softening our expectation that digital assets may have difficulty in rising for the short term, we think that upward reaction movements may come during the day. For the medium and long term, we partially change our “upside view” to “flat” for the medium term. The main determinant of this change in our view is our expectation that the revived geopolitical risks will remain on the agenda of the markets for a while. For the long term, we see no reason to change our bullish outlook.
For a detailed review of our twice-daily technical analysis report and the latest developments in digital assets click here.
HIGHLIGHTS OF THE DAY
Important Economic Calender Data
| Time | News | Expectation | Previous |
|---|---|---|---|
| – | Seedify.fund (SFUND) Descipher IDO | – | – |
| 13:45 | US Flash Manufacturing PMI (Jun) | 51.1 | 52.0 |
| 13:45 | US Flash Services PMI (Jun) | 52.9 | 53.7 |
| 14:00 | US Existing Home Sales (May) | 3.96M | 4.00M |
| 14:00 | FOMC Member Bowman Speaks | – | – |
| 17:10 | FOMC Member Goolsbee Speaks | – | – |
| 18:30 | FOMC Member Kugler Speaks | – | – |
| 18:30 | FOMC Member Williams Speaks | – | – |
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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LEGAL NOTICE
The investment information, comments and recommendations contained in this document do not constitute investment advisory services. Investment advisory services are provided by authorized institutions on a personal basis, taking into account the risk and return preferences of individuals. The comments and recommendations contained in this document are of a general type. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained in this document may not result in results that are in line with your expectations.
