25.06.2021: US stocks trading higher, but UXY heading downwards (S&P500, DXY, USD/CAD, BTC/USD).

On Thursday, the US stock market traded firmly higher and three key indices closed with confident gains. Today the market got to know important economic data on consumer inflation and personal income and spending. Income of American citizens contracted less than expected. At the same time, personal spending did not increase in May that is also a positive trend. This situation could encourage a further rally of the US equity market. The American session yesterday fits well into the picture that we discussed earlier. The S&P500 climbed to 4,266 points, the highest mark of the week. Moreover, the Nasdaq jumped to new highs of the year. All in all, besides the Nasdaq the other stock indices have not escaped a correctional range yet, though the odds are it will happen soon. The S&P500 is expected to trade above the level of 4,280 tonight. The market response to the fresh data will be clear-cut on Monday. Meanwhile, the US dollar has halted its growth, though it can extend its advance anytime soon, especially in light of the fresh consumer price index. Investors are pleased about the US CPI for May. The US dollar index is trading at near 91.70 in the American session today, fluctuating between 91.30 and 92.50. The index is expected to trade in this corridor, starting from the Asian session on Monday. The USD/CAD pair is trading at about 1.2300. Meanwhile, the currency pair has got stuck in the range of 1.2250 to 1.2350. At the moment, two forces that influence the loonie’s forex rate are well balanced. On the one hand, oil prices above 70 dollars a barrel encourage the loonie’s strength. On the other hand, signals of rising inflation in the US reinforce the greenback, thus putting pressure on the Canadian dollar. How long is the currency pair set to trade in this way? It is hard to predict. At the moment, the pair is moving sideways. As we projected yesterday, Bitcoin has failed to surpass the level of 36,000 dollars. Today its price declined to 32,800 dollars per token. What is actually going on? Analysts say that the crypto market is generating bearish signals despite the fact that the number one cryptocurrency rebounded to 34,000 dollars after a plunge as low as 28,800 dollars. Thus, it is too early to say that Bitcoin will be able to resume its rally soon. Nevertheless, crypto investors are betting on the bullish trend in the medium and long term. The most popular digital token is set to trade below 33,000 – 33,500 dollars until any important news on Bitcoin is released. So, our video is coming to an end. We will see how the stock market will close this trading week. Investors are wondering whether the market has enough bullish momentum to push stocks up to new highs. Personal income and spending data posted today is better than expected. Hence, the indices are sure to make efforts to hit new record highs. Will the market optimism last for long? Time will show! Stay tuned!

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00:00 Intro
00:17 US PERSONAL INCOME
00:34 S&P500
01:17 DXY
01:51 USD | CAD
02:33 BTC | USD