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Crypto tumbles over the weekend as the SEC crackdown becomes more aggressive. This week has it all in data prints from the CPI and the FOMC out of the US, to the ECB & BoJ policy statements, and GDP data from the GBP & NZD.
As market flows move towards safe havens once more the USD has regained strength. There is also a renewal of the selling pressure on equity markets as European indices and US futures fall back once more today.
This morning, the UK released April's labour data, showing further signs of weakness. Unemployment ticked up 0.1% from 3.8 to 3.9%, with average earning holding firm at 5.8% as forecast.
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