The USD continues to rally, driven by:
A strong rebound in US Consumer Confidence, reversing a six-month downtrend.
A decline in the number of Americans expecting a recession, improving risk sentiment.
This positive momentum helped offset weaker April Durable Goods Orders, which reflected business concerns tied to Trump’s tariff policies.
Trump Signals Progress with EU Trade Talks
Trump stated on Truth Social that the EU is moving quickly to begin trade negotiations after he expressed satisfaction with a proposed 50% tariff.
Markets could interpret this as a step toward de-escalation, potentially supporting US equities and the USD, while posing risk to EU markets if tensions resume.
SpaceX Test Failure
SpaceX’s Starship test failed mid-flight. While a technical setback, broader market impact is likely minimal unless similar failures persist.
Could marginally affect aerospace and space-related stocks.
Elon Musk on Crypto & Tax Policy
Musk criticized Trump’s tax bill, claiming it undermines DOGE and broader crypto innovation.
Slightly negative for crypto sentiment, particularly speculative tokens like Dogecoin.
Earnings in Focus
Nvidia (NVDA):
Market will watch for signs of weaker China-related growth, tied to Trump’s policy on semiconductors and AI.
Key impact expected on tech stocks, semis, and the NASDAQ.
Salesforce (CRM):
Focus on adoption of new AI tools and updates on the $8 billion Informatica acquisition.
Could affect broader enterprise software and cloud sector sentiment.
Key Support and Resistance Levels
Resistance Level 1: 21520
Resistance Level 2: 21850
Resistance Level 3: 22200
Support Level 1: 21000
Support Level 2: 20770
Support Level 3: 20560
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
A strong rebound in US Consumer Confidence, reversing a six-month downtrend.
A decline in the number of Americans expecting a recession, improving risk sentiment.
This positive momentum helped offset weaker April Durable Goods Orders, which reflected business concerns tied to Trump’s tariff policies.
Trump Signals Progress with EU Trade Talks
Trump stated on Truth Social that the EU is moving quickly to begin trade negotiations after he expressed satisfaction with a proposed 50% tariff.
Markets could interpret this as a step toward de-escalation, potentially supporting US equities and the USD, while posing risk to EU markets if tensions resume.
SpaceX Test Failure
SpaceX’s Starship test failed mid-flight. While a technical setback, broader market impact is likely minimal unless similar failures persist.
Could marginally affect aerospace and space-related stocks.
Elon Musk on Crypto & Tax Policy
Musk criticized Trump’s tax bill, claiming it undermines DOGE and broader crypto innovation.
Slightly negative for crypto sentiment, particularly speculative tokens like Dogecoin.
Earnings in Focus
Nvidia (NVDA):
Market will watch for signs of weaker China-related growth, tied to Trump’s policy on semiconductors and AI.
Key impact expected on tech stocks, semis, and the NASDAQ.
Salesforce (CRM):
Focus on adoption of new AI tools and updates on the $8 billion Informatica acquisition.
Could affect broader enterprise software and cloud sector sentiment.
Key Support and Resistance Levels
Resistance Level 1: 21520
Resistance Level 2: 21850
Resistance Level 3: 22200
Support Level 1: 21000
Support Level 2: 20770
Support Level 3: 20560
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.