The price of Bitcoin accelerated its recent exponential trend higher, soaring to daily all-time highs over the past few days, rising above $1,300 on Friday, then pushing $1,400 on Monday, and even above $1,500 on the second-largest BTC exchange, and was last trading just above $1,460 on Coinbase amid a buying frenzy attributed to speculative investment across the cryptocurrency sector, coupled with liquidity problem at some exchanges which were having problems processing fiat-based transactions.
Japanese equities firmer with weaker yen again 2 May
- high 19464.30
- low 19335.o2
- Topix +0.68% at 1550.30
- USDJPY 112.07 having finally breached 112.00 right on the close
Expect more offers/res at 112.20, 112.35 and 112.50. Bids demand 111.80-85
Citi’s US Economic Surprise Index went negative late last week, but after this morning’s data, it has collapsed to the lowest level since Oct 2016.
This is the biggest crash in US Macro data in 6 years…
And Citi is worried:
“After a weak Q1, downside misses in economic data this week have a heightened capability to trigger a reassessment of the whole growth trajectory.”
This week’s main focus will now be the US employment report on Friday, with all eyes firmly on average hourly earnings, with investors looking for it to confirm or deny the upward pressure seen in last Friday’s ECI report. From there, we’ll look for Chair Yellen’s assessment on the economy Friday afternoon at 1330ET (which should be entertaining given the carnage above).
Who could have seen this coming? ‘Soft’ Data has tumbled to 3-month lows…
Here is a note for your day’s schedule on Tuesday
White House confirming Trump and Putin to speak