S&P, Nasdaq tick up as downward payrolls revisions boost rate-cut hopes

USA 500 Daily Chart

The S&P 500 and the Nasdaq edged up as a sharp downward revision in U.S. jobs data for the year ended March 2024 indicated a slowdown in the labor market, propping up hopes the Federal Reserve would cut interest rates next month.

BlackRock’s iShares Ethereum Trust approaches $1B in net inflows

Ethereum Daily Chart

BlackRock’s Ether exchange-traded fund has reached approximately $1 billion in net inflows, underscoring its lead among rival ETFs. The iShares Ethereum Trust has pulled in $992 million in net inflows, putting the fund on track to surpass the $1-billion mark imminently.

Gold extends record rally on dollar weakness, rate-cut bets

Gold prices extended their record run, holding firm above the key $2,500 level, driven by a weaker dollar and growing investor confidence that the Federal Reserve will likely cut interest rates in September.

The Gold-Dollar pair rose 0.4% in the last session. The Stochastic indicator is giving a positive signal.
XAU/USD gained 0.4% in the last session.
The Stochastic indicator is currently in positive territory.
Support: 2475.4513 | Resistance: 2524.6813

Bitcoin demand sharply declined since April

Demand for Bitcoin has been in a downtrend since April, approaching negative levels over the past few weeks. According to data analytics firm CryptoQuant, the apparent demand for the digital asset has dropped from a 30-day growth of 496,000 Bitcoin in April to a current negative growth of 25,000 BTC.

The Bitcoin-Dollar pair fell 0.6% in the last session. According to the Stochastic-RSI, we are in an overbought market.
BTC fell 0.6% against USD in the last session.
The Stochastic-RSI points to an overbought market.
Support: 57343.6667 | Resistance: 60831.6667

The last session saw the Pound gain 0.3%

The dollar fell to its lowest level since January as investors awaited revisions to U.S. payrolls data on Wednesday and Federal Reserve Chair Jerome Powell’s speech to the Jackson Hole economic conference in Wyoming later in the week.

The last session saw the Pound gain 0.3% against the Dollar. The Ultimate Oscillator is giving a positive signal.
GBP/USD rose 0.3% in the last session.
The Ultimate Oscillator is currently in positive territory.
Support: 1.2906 | Resistance: 1.3039