Financial Mirror on Nostr: Europe, US markets point higher; Bitcoin momentum improves ========== European and US ...
Europe, US markets point higher; Bitcoin momentum improves
==========
European and US stock futures are trading higher on the first trading day of the second half of the year. The news of the first round of the French snap parliamentary election is another reason for traders to feel more confident. The current momentum in the markets could be determined by economic data from China. The fresh PMI reading for manufacturing in China is below the 50 mark, indicating contraction territory. However, the overall momentum and direction of trade in Asia were on the upside, which is encouraging risk-takers in Europe and the US. Traders and investors will focus on the AI trend that brings another stellar performance for the US stock indices. The Nasdaq Composite has had three consecutive quarters of negative performance, but it has had the longest quarterly winning streak since the post-COVID rally. The economic docket for the week includes the German preliminary CPI, ISM Manufacturing PMI numbers, and ISM Manufacturing prices. Bitcoin price has improved and moved above the psychological level of $60,000. A drop below this level could lead to a conversation about the next important support level for Bitcoin, which means the price could drop towards $50,000.
#StockMarkets #Bitcoin #Trading #EconomicData #China #AiTrend #NasdaqComposite #GermanCpi #IsmManufacturingPmi #IsmManufacturingPrices
https://www.financialmirror.com/2024/07/01/europe-us-markets-point-higher-bitcoin-momentum-improves/
==========
European and US stock futures are trading higher on the first trading day of the second half of the year. The news of the first round of the French snap parliamentary election is another reason for traders to feel more confident. The current momentum in the markets could be determined by economic data from China. The fresh PMI reading for manufacturing in China is below the 50 mark, indicating contraction territory. However, the overall momentum and direction of trade in Asia were on the upside, which is encouraging risk-takers in Europe and the US. Traders and investors will focus on the AI trend that brings another stellar performance for the US stock indices. The Nasdaq Composite has had three consecutive quarters of negative performance, but it has had the longest quarterly winning streak since the post-COVID rally. The economic docket for the week includes the German preliminary CPI, ISM Manufacturing PMI numbers, and ISM Manufacturing prices. Bitcoin price has improved and moved above the psychological level of $60,000. A drop below this level could lead to a conversation about the next important support level for Bitcoin, which means the price could drop towards $50,000.
#StockMarkets #Bitcoin #Trading #EconomicData #China #AiTrend #NasdaqComposite #GermanCpi #IsmManufacturingPmi #IsmManufacturingPrices
https://www.financialmirror.com/2024/07/01/europe-us-markets-point-higher-bitcoin-momentum-improves/