Crypto hovering at altitude

The cryptocurrency market is losing about 1%, charting a downward trend after soaring in the second half of April and plateauing at the very end of the month. With a market capitalisation of $2.94 trillion, the cryptocurrency market is just over 1% below the levels of a week ago. Among the top coins over the past seven days, anonymous Monero and zCash remain in the lead, remaining in positive territory after surging due to a hacker theft last week, which reminds us of the advantages of this type of coin.

Bitcoin, on the other hand, echoes the general mood of US stock indices, letting off steam in recent days following a surge in the second half of April. This timely cooldown after reaching overbought levels could be a healthy pause, paving the way for further gains.

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The US ran a record trade deficit in March. It will be worse in April

In March, the US international trade deficit reached unprecedented levels, driven by a rush to purchase goods ahead of anticipated tariffs. This surge comes amidst the backdrop of the US President's striking 'America's Liberation Day' tariff announcement, with retaliatory tariffs following in April.

The trade deficit is an important fundamental pressure factor on the dollar, and it promises to become even stronger in April’s data. As a result, we are seeing temporary anomalies in the import numbers, which have been on a tear since December, adding over 27% to March last year.

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Flash Crypto video: Crypto on the Edge

The market exhales after April’s sprint—but beneath the calm, big moves are brewing. Hackers push Monero and zCash into the spotlight, Ethereum braces for a volatility storm, and a $180M Bitcoin buy hints at bold strategies ahead. Blink, and you might miss the breakout. Tune in now to get the full picture, sharpen your strategy, and stay ahead of the next big move.

00:12 Crypto Market Overview

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USDJPY Wave Analysis – 6 May 2025

- USDJPY reversed from resistance zone

- Likely to fall to support level 140.00

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Gold Wave Analysis – 6 May 2025

- Gold reversed from support level 3270,00

- Likely to rise to resistance level 3500.00

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🗓 Economic Calendar at 2025/05/07 (GMT)

01:00 🇳🇿 ⚡️ RBNZ Governor Christian Hawkesby Speaks

08:30 🇬🇧 Construction PMI — Exp: 46.0 Actual: 46.6

14:30 🇺🇸 Crude Oil Inventories — Exp: -1700K Actual: -2032K

18:00 🇺🇸 ⚡️ FOMC Rate Decision — Exp: 4.50% Actual: 4.50%

18:00 🇺🇸 ⚡️ FOMC Statement

18:30 🇺🇸 ⚡️ FOMC Press Conference


[Updated in real time]

Verizon Wave Analysis – 6 May 2025

- Verizon broke daily Triangle

- Likely to rise to resistance level 44.80

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DAX Wave Analysis – 6 May 2025

- DAX reversed from key resistance level 23435,00

- Likely to fall to support level 22700.00

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⚠️ New Zealand — Employment Change at 22:45 GMT

✔️ Prev: -0.1% | -1.1%

🕒 Exp: 0.1%
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⚠️ New Zealand — Unemployment Rate at 22:45 GMT

✔️ Prev: 5.1%

🕒 Exp: 5.3%

⚠️ New Zealand — RBNZ Governor Christian Hawkesby Speaks at 01:00 GMT

Crypto market tests range ceiling

Market capitalisation rose 1.7% in the last 24 hours to $2.98 trillion, approaching the upper end of the consolidation range where the market has been hovering for almost two weeks. The previous consolidation in April took about the same amount of time before the last move up. Rest after the rise may favour further growth.

Greed characterised market sentiment on Tuesday, with the corresponding index rising to 67, repeating the highs of May 2.

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🇺🇸 Trading dynamics at the stock market pre-market

📈 Positive dynamics prevail at the US stock market pre-market today.

Google (GOOGL) shares are up 0.95%, Meta (META) adds 0.51%, and Tesla (TSLA) shows an increase of 0.78%.

In the technology sector, Oracle (ORCL) is losing 0.47%, while NVIDIA (NVDA) is up 0.22%.

In the financial sector, JPMorgan (JPM) is up 0.70%, and in the consumer discretionary sector, Procter & Gamble (PG) is losing 0.05%.

Such dynamics may weaken demand for the dollar as a defensive asset, supporting other currencies.

FOMC ahead: Will Powell surrender the dollar to Trump?

Markets are eagerly awaiting the outcome of the Fed meeting. Economists and analysts are unanimous that no rate changes are expected, and the rate will remain in the current range of 4.25%-4.50%. Despite developments in India and Pakistan and news of upcoming talks between the US and China, the market is poised for strong moves, remaining in a state of uncertainty about the central bank's next steps.

Since Trump took office, the Fed has tightened its interest rate policy in response to the pro-inflationary risks expected from tariffs. Rising inflation expectations in the US confirm this trend.

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⚠️ USA — FOMC Rate Decision at 18:00 GMT

✔️ Prev: 4.50%

🕒 Exp: 4.50%
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⚠️ USA — FOMC Statement at 18:00 GMT

⚠️ USA — FOMC Press Conference at 18:30 GMT

EURAUD Wave Analysis – 7 May 2025

- EURAUD reversed from the support zone

- Likely to rise to resistance level 1.7700

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NZDUSD Wave Analysis – 7 May 2025

- NZDUSD reversed from the resistance zone

- Likely to fall to support level 0.5900

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🗓 Economic Calendar at 2025/05/08 (GMT)

11:02 🇬🇧 ⚡️ Bank of England Interest Rate Decision — Exp: 4.25% Actual: 4.25%

11:02 🇬🇧 ⚡️ MPC Official Bank Rate Votes — Exp: 0-9-0 Actual: 0-7-2

11:02 🇬🇧 ⚡️ Monetary Policy Summary

11:02 🇬🇧 ⚡️ BOE Monetary Policy Report

12:30 🇺🇸 ⚡️ Unemployment Claims — Exp: 231K Actual: 228K

12:30 🇺🇸 Continuing Claims — Exp: 1890K Actual: 1879K

15:00 🇨🇦 ⚡️ BOC Press Conference


[Updated in real time]