Several observations that may cause market fluctuations this week:
1. The US will release non-farm payrolls data this Friday
The Federal Open Market Committee (FOMC), which determines the US benchmark interest rate, will hold another meeting next week. Fed officials will enter a silent period this week, so officials should not make public comments this week.
However, the US Department of Labor will release the latest non-farm payrolls data this Friday (7th). The market estimates that the number of employed people will decline from last month and the unemployment rate will remain unchanged. But if the results are significantly different from expectations, it may cause fluctuations.
2. The European Central Bank announces its interest rate decision
One week earlier than the United States, the European and Canadian central banks will announce their latest interest rate decisions on the 5th and 6th of this week, respectively. The market estimates that the two central banks will each cut interest rates by 1 code (25 basis points) to boost the sluggish economy.
In the last ECB interest rate meeting, the interest rate hike was suspended for the fourth time, and the balance sheet reduction plan will remain unchanged. The outside world believes that the interest rate hike cycle has ended. At the press conference after the meeting, President Christine Lagarde said that they would start discussing relaxing the restrictive stance, hinting that interest rates may be cut at the June interest rate meeting.
If the Ethereum ETF is advanced, it will be officially launched on July 4. Wall Street institutions are not far away from entering the market in a big way, so they hyped it up in advance. Referring to the trend of Bitcoin ETF hype, Bitcoin rose from 27,000 to 49,000, and the hype lasted for two months. If we judge by the hype trend of Bitcoin, it can be divided into three stages of pull-up. The first stage of pull-up is the real pull-up of false news!
When the news of Ethereum came out, many people actually did not believe it. They rose in hesitation. After the first wave of pull-ups, they entered the first stage of consolidation. Then, before the Bitcoin ETF was officially approved, there was another wave of pull-ups. I personally think that Ethereum can start the second wave of pull-ups at any time, and then continue to consolidate, waiting for the news to land, and then a wave of retracement. The biggest harvest season is two weeks after the news of Ethereum ETF online trading landed, from 40,000 to a new high of more than 73,000!
