🌈 Check out the news that happened in the last 24 hours:
1️⃣ Yesterday's main news
- Fed Daley: Either cut debt purchases later this year or early next year.
- US bipartisan infrastructure bill will "suck" about $23 billion from crypto assets.
- Initial jobless claims in the US recorded 385,000 last week.
- Biden sets new energy vehicle sales to account for 50% of all new car sales by 2030.
- World Gold Council: The global gold ETF in July currently has a small net inflow.
- Bank of England: Continue to maintain current monetary policy and implement appropriate tightening measures if necessary.
The FDA is developing a plan to boost the Covid19 vaccine.
2️⃣ Financial facts and data today
- the Reserve Bank of Australia issued a statement on monetary policy.
- the US unemployment rate for July is expected to be 5.7% and the previous value is 5.9%; Nonfarm employment population in the United States after seasonal adjustment in July, the expected value is an increase of 870,000, and the previous value is an increase of 850,000. The nonfarm report could point to the direction of the Taper debate ahead of the Fed's rate decision in September.
- the monthly US wholesale rate for June, both expected value and previous value is 0.8%.
📕 Comment on Gold on August 6, 2021:
- Ending yesterday's session, precious metal Gold had 1 day of decline from 1814 to 1797, closing the day session with a bearish candle around 1804. Although yesterday precious metal Gold was there are deeper declines every day but the drop is not too strong and the support zone 1793-1797 has not been broken so in my opinion to trigger a deep drop, the precious metal will have to overcome this price zone.
- My personal view on precious metal Gold today is to wait for this precious metal to have another drop to the 1793-1797 price range, then wait for a recovery signal to buy up. If the precious metal Gold breaks through 1793-1797, then 1781 will be the next support area of the precious metal Gold today.
✍️ Comments on BTC on August 6, 2021:
BTC, after touching $ 37.2k, has bounced back up to the old resistance area created on July 30, 2021.
Closing yesterday's session with a bullish green candle with good push. In my personal opinion, for the "king" of this cryptocurrency to continue to increase, BTC needs to conquer and surpass $ 42-44k and today I prioritize buying with BTC around 39k. $ with a safe target around 41-41k$.
(Currently, BTC price while analyzing is 40.15x$
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