Market Compass
Preliminary and Geopolitical Agenda After FED
- There were no big surprises from the US Federal Reserve (FED) yesterday. Powell reiterated his concerns about inflation and the possible impact of tariffs going forward. Pricing continues to suggest that the Fed will cut interest rates twice this year.
- Geopolitical agenda continues to be the most important dynamic on risk sentiment. It is a matter of curiosity whether the US will intervene in the war between Iran and Israel. It is said that Trump has not made a final decision on attacking Iran. However, it is stated that the president has approved the planning for the attack. Donald Trump is expected to receive a briefing in the Situation Room today.
- Trump also noted that Iranian officials have expressed interest in talks, while European Union (EU) leaders will hold nuclear negotiations with Iran on Friday.
- Today, US stock markets will be closed due to a holiday, but index-linked futures contracts are traded on the Hong Kong and London bourses.
- Wall Street futures are trading in negative territory due to geopolitical uncertainties. European stock markets are also on the downside. Major digital assets continue to trade sideways. On the other hand, despite the perception of risk aversion, we find it remarkable that US spot Bitcoin Exchange Traded Funds (ETFs) have recorded positive inflows for the last eight consecutive days.
We maintain our expectation that digital assets may struggle to rise in the short term. 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 |
|---|---|---|---|
| All Day | Holiday United States – Juneteenth | ||
| BTC Prague Prague, Czech Republic | |||
| Polyhedra Network (ZKJ) 15.53MM Token Unlock |
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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