STARTRADER Market Recap | 07-June-2023

The US Securities and Exchange Commission (SEC) has filed an emergency motion in the Federal Court in Washington, D.C., to freeze the assets of Binance US and recover the assets (fiat and cryptocurrencies) held by customers on the Binance US trading platform. The freezing request applies to the two holding companies affiliated with Binance in the United States and does not affect unregulated international exchange.

The markets are stable this week, with gold holding above the 1960 levels after recent data supported the Federal Reserve’s cautious approach to raising interest rates in the upcoming meeting.

The US dollar index is also stable near the 104 level. There are no significant scheduled data releases to monitor this week, except for tomorrow’s unemployment claims, which are expected to increase slightly from 232,000 to 236,000 only.