🇺🇸 Trading dynamics at the stock market pre-market

📈 The US stock market is showing positive dynamics at the pre-market.

In the Electronic Technology sector, NVIDIA (NVDA) is up +5.17% and Apple (AAPL) is up +1.71%.

In the Financials sector, shares of Visa (V) are up +0.21% and shares of BlackRock (BLK) are up +1.10%.

In the Technology Services sector, shares of Oracle (ORCL) are adding +1.43% and shares of Meta (META) are up +1.00%.

Such positive dynamics may reduce the attractiveness of the dollar as a defensive currency.

Gold got another strong bid on a dip

Gold has been on a downward trend since the end of last week, with the sell-off peaking in the first few minutes after reports that a trade court ruled that most of Trump's tariffs were illegal. Having fuelled risk appetite, this news triggered a sell-off in the ‘defensive asset’. The positive traction ended rather quickly as the US President's administration appealed.

Gold managed to stay within this year's pattern and was actively bought on an intraday dip below $3250, once again pushing the price away from the 50-day moving average. The dynamics are impressive as the price is adding about 2% to the intraday lows, reaching $3310 per ounce. In April and earlier in May, the price had already bounced off this curve, forming a sequence of higher local lows.

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⚠️ UK — BOE Governor Andrew Bailey Speaks at 19:00 GMT

GBPJPY Wave Analysis – 29 May 2025

- GBPJPY reversed from the key resistance level 195.00

- Likely to fall to support level 193.00

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Bitcoin Wave Analysis – 29 May 2025

- Bitcoin broke daily up channel

- Likely to fall to support level 105,000.00

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🗓 Economic Calendar at 2025/05/30 (GMT)

01:30 🇦🇺 Retail Sales — Exp: 0.3% Actual: -0.1%

07:00 🇨🇭 KOF Economic Barometer — Exp: 98.3 Actual: 98.5

12:00 🇩🇪 Consumer Price Index — Exp: 0.1% | 2.1% Actual: 0.1% | 2.1%

12:00 🇩🇪 Consumer Price Index - EU Harmonised — Exp: 0.1% | 2.0% Actual: 0.2% | 2.1%

12:30 🇺🇸 ⚡️ Core PCE Price Index — Exp: 0.1% | 2.5% Actual: 0.1% | 2.5%

12:30 🇺🇸 Personal Spending — Exp: 0.2% Actual: 0.2%

12:30 🇺🇸 Goods Trade Balance — Exp: -142.8B Actual: -87.6B

12:30 🇨🇦 ⚡️ Gross Domestic Product — Exp: 0.1% | 1.6% Actual: 0.1% | 1.7%

12:30 🇨🇦 ⚡️ Quarterly Gross Domestic Product Annualized — Exp: 1.7% Actual: 2.2%

14:00 🇺🇸 UoM Consumer Sentiment — Exp: 50.8 Actual: 52.2

16:20 🇺🇸 FOMC Member Raphael W. Bostic Speaks


[Updated in real time]

Microsoft Wave Analysis – 29 May 2025

- Microsoft reversed from resistance zone

- Likely to fall to support level 447.00

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EURCAD Wave Analysis – 29 May 2025

- EURCAD reversed from the support zone

- Likely to rise to resistance level 1.5755

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Bitcoin pushes back, altcoins lose more

Market capitalisation is down 2.2% today and more than 4.6% in seven days to $3.34 trillion. Bitcoin’s fluctuations are creating briefly higher volatility in older altcoins: BTC’s 1.7% decline contrasts with ETH’s 3.5% drop, XRP’s 4% weakening, SOL’s 4.6% decline and Doge’s 8.5% pullback.

Bitcoin was down to $104.7K on Friday morning, stabilising at $106.0K by the start of active European trading, showing a fourth day of declines. Technically, a pullback down to $103K would fit into a technical correction. Even a failure to $99K would formally satisfy the Fibonacci retracement pattern. However, even 103 looks like a strong enough local support for the coming days.

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The dollar completes a rebound, returning to a long-term decline

The US dollar reinforced the importance of support, bouncing early in the week from levels near 98.7. The dollar has been bought out of this area for the past seven weeks, preventing the dollar from rewriting three-year lows. The dollar was oversold, and we regarded the rise as a technical bounce.

The 50-day moving average acted as a stop to the rebound, emphasising its technical nature. Fundamentally, the de-escalation of the US trade conflict with the European Union stopped the ‘sell America’ trade. The Court’s ruling on the illegality of reciprocal tariffs lifted USD to the highs of the previous ten days. Lower tariffs reduce the risks of the US economy stagflation, as fiscal stimulus will boost GDP, and inflation will remain under Fed control. This scenario could still materialise, restoring interest in the depreciating US dollar and lagging equities.

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⚠️ USA — Core PCE Price Index at 03:00 GMT

✔️ Prev: 0.1% | 2.7%

🕒 Exp: 0.1% | 2.5%

🎯 Fact.: 0.1% | 2.5%

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⚠️ Canada — Gross Domestic Product at 03:00 GMT

✔️ Prev: -0.2% | 1.6%

🕒 Exp: 0.1% | 1.6%

🎯 Fact.: 0.1% | 1.7% 📈

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⚠️ Canada — Quarterly Gross Domestic Product Annualized at 03:00 GMT

✔️ Prev: 2.1%

🕒 Exp: 1.7%

🎯 Fact.: 2.2% 📈

🇺🇸 Trading dynamics at the stock market pre-market

📉 The US stock market is showing negative dynamics at the pre-market.

In the Electronic Technology sector, shares of NVIDIA (NVDA) are down -0.43%, while shares of Apple (AAPL) are losing -0.56%.

In the Financials sector, shares of Berkshire Hathaway (BRK.B) are down -0.43% and shares of JPMorgan Chase (JPM) are losing -0.72%.

In the Healthcare sector, shares of Lilly (LLY) are up +0.47% and shares of AbbVie (ABBV) are down -0.33%.

Current market dynamics may increase pressure on risky assets and increase the attractiveness of the dollar as a safe-haven.

Americans’ incomes continue to rise sharply without fuelling inflation

Household personal income in the US rose by 0.8% in April, following increases of 0.7% and 0.8% in the previous couple of months. This is the fourth consecutive month that the figure has exceeded analysts' average expectations, which were 0.3% this time. Meanwhile, we have become accustomed to the much more modest spending increase of 0.2% last month. Consequently, a growing proportion of income is being saved, reaching 4.9%, close to the 25-year average of 5.6%. This normalisation has been made possible by the slowdown in inflation, but it is also contributing to a further slowdown.

For example, the core personal spending price index slowed to 2.5% year-on-year, a four-year low. The data matched expectations, maintaining the slowdown trend and steadily approaching the Fed's 2% target. As the data was as expected, there was no sharp immediate reaction from the stock or currency markets. However, this news should reinforce the dovish stance of Fed members and bring the date of the next rate cut closer, as it has been moving further away since last November.

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Pro News Video on Dollar Rebound, Gold Slips, Bitcoin Stalls

In this episode of Pro News Weekly, we’ll be taking a look at the latest moves in the markets and what they could mean for investors.

The US dollar is on the rise, gold is losing its safe-haven status, and Bitcoin is cooling off after a record-breaking run. Meanwhile, Trump’s aggressive tariff strategy faces a major legal setback — and the consequences are starting to ripple across global markets.

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GBPCAD Wave Analysis – 30 May 2025

- GBPCAD reversed from resistance zone

- Likely to fall to support level 1.8275

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Ethereum Wave Analysis – 30 May 2025

- Ethereum reversed from resistance zone

- Likely to fall to support level 2400.00

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