The Macro Setup Podcast with Guy Adami and Dan Nathan – Nadex

by Amanda Diaz

The Macro Setup is brought to you by

 

Guy Adami and I are back with our weekly video podcast series The Macro Setup brought to you by our presenting sponsor Nadex, the leading U.S. exchange in binary options, knockouts, and call spreads.

 

 

Topics:

The All-Important May Jobs Report

  • The Fed will be looking in the coming May jobs report for clues as to how fast the labor market is recovering
  • Policy makers project a rapid recovery in the labor market this spring and summer, accompanied by moderate inflation
  • Recent data shows hiring slowed unexpectedly in April, and consumer prices rose at a rate that was nearly twice the Fed’s target

 

Oil Spikes 

  • U.S. crude futures climbed to the highest in more than two-and-a-half years after the OPEC+ alliance forecast a tightening global market
  • OPEC+ committee says the oil glut built up during the coronavirus pandemic has almost gone and stockpiles will slide rapidly in the second half of the year
  • WTI crude oil is up more than 40% YTD

 

Bitcoin Bust is Worst in Years

  • Bitcoin was down 37% in May
  • Gold rallied more than 6% in May, its best month in nearly a year
  • JPMorgan analyst says May crash in has badly weakened institutional demand, which is likely to keep prices under lower for now

 

CHARTS:

SPX 1yr

NDX 1yr

RTY1yr

 

10yr U.S. Treasury Yield YTD

10yr U.S. Treasury Yield 5yr

 

U.S. Dollar (DXY) 1yr

U.S. Dollar (DXY) 10yr

XAU (Gold) 1yr

XAU (Gold) 10yr

Bitcoin 1yr

Crude Oil 1yr

Crude 10yr

Crude vs USD 10yr chart

 

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