This is what you need to know to trade today Tuesday, May 25:
Market mood is bullish on Tuesday, with stocks rising and the dollar lagging in response to the Fed’s pessimism. High volatility in cryptocurrencies prevails in response to new comments from Musk. Data on housing and consumer confidence are expected from the United States.
Lael BrainardGovernor of the Federal Reserve, reiterated the bank’s position that the economy has a long way to go and that inflation is transitory. His supportive remarks were the last to boost confidence and weigh on the safe-haven dollar. His colleagues Charles Evans and Randal Quarles are due to speak later in the day.
The measure of Conference Board Consumer Trust, the house price index and the S & P / CS figures are in the spotlight.
May CB Consumer Confidence Preview: Inflation undermines consumer confidence
The EUR/USD it is trading above 1.22, benefiting from the weak dollar and the reopening of Europe. Several countries on the old continent are coming back from a long weekend and the German IFO business climate figures are in focus.
The pair GBP/USD it falls below 1.42, fueled by comments from Bank of England Governor Andrew Bailey, who downplayed concerns about rising inflation.
The cryptocurrencies they have been falling to the downside early Tuesday after jumping on Monday and falling over the weekend. Tesla founder Elon Musk said he spoke with North American Bitcoin miners and said they may have promising solutions. That contrasts your previous criticism against the granddaddy of digital assets.
Ethereum founder Vitalik Buterin has been clashing with Musk over power and scalability issues.
The crude petróleo WTI it has advanced to $ 66 despite speculation that Iran will return to international markets and gold has stabilized below $ 1,880.
The US stocks They have been on the rise, including interest rate-sensitive tech stocks. Additional gains are observed.
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