​​ Friday is again on its way. What’s happening on the markets | FBS Analytics

​​ Friday is again on its way. What’s happening on the markets? Check our new digest.

The European GDP decreased by 0.1% in the first quarter. The EU economy is officially in recession right now. We remind you that a recession is reducing GDP for two months.

Initial Jobless Claims in the US were released worse than the forecast. The Bureau of Labor Statistics reported 261K claims instead of 235K in the forecast. More people are unemployed – the situation is deteriorating.

EURUSD grew by almost 0.8% yesterday. It’s important to note that the long-term trend is bearish. 200MA is heading down on W1 time frame. There is a possibility that the price will form the classical Head and Shoulders pattern.

The Fed balance has mostly stayed the same during the last week. But the trend in the balance is primarily negative. The central bank is washing the liquidity out of the market. This is a positive signal for the US dollar.

Next week will be extremely important for the markets. On Wednesday, June 14th, the Fed will decide the interest rate. According to the CME Fed Watch tool, 75.9% of traders think the Fed will leave the rate at its current level.

BTCUSD is in a downtrend. The price broke 100MA and is falling right now. The nearest support level is at $25300

XAUUSD is following the trend line down. We may see the price at $1950 again.

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