Market Brief May 29th: U.S. Consumer Confidence due today


Bitcoin and Ether- Ether has fallen 14% overnight as cryptocurrnecies depreciate in value and price across the board. Both markets approach immediate levels of support. For Bitcoin, the farthest support is located at $5,800 while Ether is heading toward the $360 support area. Should those two markets fall below the discussed supports, we could see an increase in short positions.

The United States

USD, 15:00 p.m. GMT +1, CB Consumer Confidence (May) – a leading indicator which can predict consumer spending, the index measures the level of consumer confidence in economic activity. Confidence for the month of May is expected to drop at 128.2 versus last period’s result at 128.7. If the actual report shows a higher than predicted performance, this should bring optimism for the U.S. dollar and thus higher prices. Conversely, a strikingly lower number could send the dollar into a freefall.

Wishing you Happy and Successful Trading!

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