EURUSD to parity? 🚦 Tech rallies 🎢 Today: Fed minutes, US jobs, oil 🛢️ gold💡

FlowBank's hand-curated fresh financial news [header_noDither] 06.07.2022 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [shutterstock_244575289] The euro fell to its lowest level against the US dollar in over 20 years due to investors' concerns about a potential energy crisis. The currency is being affected by the possibility of Russia cutting off gas supplies to Europe. Deteriorating technicals point to an increasing likelihood of the EURUSD pair reaching parity in the near future. [Start Trading](113/cXx8Z04/VVRzSx49MQYCW1SRTSj4llc4-W5b9Bvk4M7W7SN5VHnTN3q3n_V1-WJV7Cg-89W7BjGDX33PyBsW39B-8k8MC1l1W7NK8HL1qnZcrW2T06tj4TyGgPM9vg0kYf3zFW1-MClJ1v6bL-W1X81Cb5nK7knW34dQ6s2z0N15W1s_bFW2yrkksW2H186q4K_B9GW5rbtv35gpJmDW8Nc3J897T1s7W2Y99Mr12twPDW53bcGt1DLg0bN6bV64wY-5T9W63v_Vx6GFHMHW5V7sWv9l5MDDW5wbvw-87tpbjM1V0__QcypvN5NSC-L5mdSQN8wXYWnJ9LFZW3js_tF2Rt1yTVZchkT2fBhWTN6hrlLGrlVmHW3YXrKg72Y9CJN7Kyrh95YtgQ3nrg1) Trader's Corner In focus • Investors will examine the minutes of the June meeting of the Fed's FOMC, in order to attempt to predict the next move in US interest rates. • The GBP and UK stocks will be in focus following the surprise resignation of the British Finance and Health Secretary. • Lastly, oil and gold prices will also have traders' attention as they both broke key technical support levels. Economic data • US 30-year mortgage rate, JOLTs job openings, ISM services PMI • EU retail sales, economic forecasts • Germany factory orders • UK Construction PMI Earnings • Aeon, Bang&Olufsen, LDC Crypto • After dipping early Tuesday, Bitcoin, Ether and most major cryptos gained momentum and were in the green by the close of equity markets. Bitcoin is currently changing hands at about USD20'140. • Nexo offered to buy embattled rival Vauld. The crypto lender has signed a term sheet with Vauld giving it 60 days of exclusive talks to explore an all-equity acquisition of the company. [Screenshot 2022-07-06 at 07.08.24] [Start Trading](113/cXx8Z04/VVRzSx49MQYCW1SRTSj4llc4-W5b9Bvk4M7W7SN5VHnTN3q3n_V1-WJV7CgQntM7Y-Sp2JRMFW8q2Fg48Ccj3ZW8wGRrG7g1b6WW4_Rwsb4P5vRPW35TCrZ655BTVW1P9Dv67q2gV8W2gr2QB3jfsmnW7MCJ-v66JssWW5CJHYP8t-rhGW2jYYJZ6tMbPLW2nN6F18Kn_NhW82xCBY8qkv78W3fH6xd13gbvzW7cD_vD4DfqRCVkvHT28-nT74W4tjXch5RgvQcW91kvyh3QHfn6N6pyKh2xWHW5M3lPmMQjWxHN746w_HrszvdW4HKDmS26SxhtW4lPtkp743xLYW69cR8q6vL14HW8dkvCg50dbZ_W7zs3c83T1qB-W67kRr_2SXxZ-3gSL1) Market Recap Oil plummeted, with US Crude declining more than 8%, dropping below USD100 for the first time since mid-May. Treasury yields continue their decline on fears of a slowdown. The S&P 500 ended just in the green, while the Nasdaq rose solidly on lower rate prospects. The dollar gained across the board, hitting a two-decade high against the euro. Meanwhile, gold tumbled, breaking its key support level. This morning, European stocks are set to open higher although the euro is extending its losses. Interestingly, the Japanese yen is gaining momentum. And in Commodities, copper prices are in free fall and gold is attempting to stabilise. Chart Of The Day European stocks extended losses as growth worries worsened. The Stoxx50 index closed 2.7% lower, crossing below this year's support level. The next support is near the 3'240 level. [Screenshot 2022-07-05 at 23.22.15](113/cXx8Z04/VVRzSx49MQYCW1SRTSj4llc4-W5b9Bvk4M7W7SN5VHnT93q3npV1-WJV7CgGmMW8DS_dV3lKD4sW6DsXvw44FTdGW8v3qyw2v6mGqW34QtlK8mKq7mW8Rq_wb3KyKNQW2M81W93WgNt4W7WR0WP6_72MmW3frN9V6Jbk6PW6nWSf-2_5H37W7Fydbp7wVynTW6vCFCF96HlQ9W4Jty0r3hMrDVW3qRtrD1xz9kkW7vkx831hwSQ4W6_DJjx7GpdNNW3cQ0VR6t2b41W8lDRzK8ftljKW2RcXtk1DvS8dW1wlMb-7mHjBbW72t2424XX_r5VJcDfB4PLY50W80ZDy34PYXnN3pj51) FlowBank Blog What is different about this crypto winter? [shutterstock_725383297](113/cXx8Z04/VVRzSx49MQYCW1SRTSj4llc4-W5b9Bvk4M7W7SN5VHnV33q3phV1-WJV7CgWZSN6nFRTvxqGRCW2Z23Vq2MjwwXW3cZT6B14cyD5W3lPSrZ8-9cyvW1YYMRx55zXWqVcwBp46X16H4W5RPwtb3-JTmxW8vh9X41xQJymVNd_Ch8gbF7BW5-gjxB6dk4vHW93DXLb4DxGw7W63dSFg7v_k3YW6CJR0l2FzSbpW2-g4HN6tbXPnW6lKmVv5tVLjFW2VSSJY8-tlYcW813XTx3hR_jzW6zMdnW5rwpBHW7xgF9l4HT3fqW6p18qR6nylNGW9j3v-h70GcP0W4lhr635mYyMSW5vc0YY49ZC5pW5gTT5m4sy4TCW26vf893HRgRMW8wkKXj69vwx7W2tGfQg7M9s9cW40rq866DPzWB32RH1) Cryptocurrencies have gone through several major drops in their history — known as “crypto winters”. Could the market’s expansion and increasing adoption from Main Street to Wall Street mean there is more at stake now? 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