Bitcoin and Ethereum give back gains as US indexes fallThe US gave back a stronger open to fade lower into the close. Again the fight is between economic data and higher inflation and whether the strength in the US economy can continue and absorb high inflation and the inevitable rate hikes. Any economic data releases that fail to meet expectations will see the share market unwind risk and head lower. US key Employment data out tomorrow is the focus.
Bitcoin and Ethereum give back most of the recent gains about as fast as they made it. Both are back under pressure and need to find some new buyers to provide support as they target back into major lows.
The general trend for major Indexes remains down with the the USD in the driving seat....continuing to be careful into shares as prices could continue the trend lower.
Markets covered
US - DOW, Nasdaq and SP500
Europe - DAX and FTSE100
Asia - Hang Seng, ASX200 and Nikkei
FX - Dollar Index (USD), EURUSD , GBPUSD , AUDUSD and USDJPY
Commodities - GOLD , Oil and Copper
Crypto - Bitcoin and Ethereum
