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1. June S&P Global PMI data - Tuesday 2. May New Home Sales data - Wednesday 3. May PCE Inflation data - Thursday 4. US Q1 2026 GDP data - Thursday 5. June MI Consumer Sentiment data - Friday 6. June MI Inflation Expectations data - Friday
• Crude Oil fell -0.92% to $75.15 as U.S.-Iran peace talks in Switzerland concluded with Iran securing waivers for oil and petrochemical exports, easing global supply concerns. Prices had earlier spiked above $82 as Iran temporarily closed the Strait of Hormuz, but optimism from a 60-day roadmap toward a final deal pushed prices back down.
• The Dollar Index held at 100.9, just shy of a one-year high, supported by safe-haven demand and expectations of higher-for-longer interest rates. Traders are now pricing in 43 basis points of rate hikes this year, with a 25 bps increase fully expected by September, pushing 2-year Treasury yields to their highest since early 2025 at 4.23%.
• Bitcoin climbed 1.32% to $64,074.24, recovering modestly despite broader market uncertainty driven by Middle East tensions. BTC dominance stands at 56.22% of total crypto market capitalization, reflecting continued investor preference for the leading digital asset over altcoins.
• S&P 500 futures declined approximately 0.21%, Dow futures fell 0.12%, and Nasdaq 100 futures dropped 0.22% in overnight trading as renewed threats from President Trump to strike Iran weighed on risk appetite. Market sentiment was further clouded by UK political uncertainty, with Prime Minister Keir Starmer reportedly weighing his political future after a decisive by-election loss to Andy Burnham.
UPDATE: - $RESOLV is down 9% from the prior bearish setup, yet a strong bullish reaction appeared out of nowhere.
The weekly Doji remains visible, signaling an indecision phase, while momentum stays clearly bearish below the previously mentioned resistances.
Weekly high sits at 0.0210 and low at 0.01410.
This could either mark a bull trap ahead of further downside or a retracement within the 0.1650-0.1900 zone.
My take: Above 0.1650, it's a good zone for buyers to build momentum before to see further price increase. Lose that level and a dump toward weekly low could be see again.