Author: FX

Bitcoin is trading modestly lower after an earlier attempt to move higher lost momentum. The price reached a high of $85,238 before falling to $83,161. It is currently near $83,787, down about $600, or 0.71%, on the day.The technical question is whether buyers can defend the breakout from earlier this week.Buyers defend the breakout areaOn Tuesday, Bitcoin moved above a swing area between $81,517 and $82,833 and extended its gains to about $87,335. That upside momentum faded, and the price has since rotated back toward the area it broke through.Yesterday and again today, buyers stepped in near the top of…

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Prior was +1.1%Ex-transport +0.3% vs +0.6% expectedPrior ex-transport +0.4%Ex-defense +0.1% vs +1.3% priorNon-defense capital goods orders ex-air +1.6% vs +0.5% expectedPrior +0.2%The big data point this week was the S&P Global PMI that showed an accelerating US economy. The headline here is flat but the core orders matter much more of the underlying direction of the economy and that’s a great number that helps to back up the bullish view on the economy. The market reaction has been nil but this is another brick in the hawkish pyramid. This article was written by Adam Button at investinglive.com. Source link

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