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Markets are attempting to find a steadier footing after last week's violent selloff.
As a recap:
Flare-up in Middle East tensions: Iran and Israel exchanged military strikes since Sunday, June 7th, threatening the already-fragile peace talks to bring a permanent end to the war.
Blockbuster US jobs report: markets worldwide were jolted after yet another display of resilience in the US jobs market on Friday, June 5th — a key event we had warned you about multiple times last week — which in turn prompted markets to fully expect at least one Fed rate hike for 2026.
Risk assets such as stocks, cryptos, and gold tend to fall at the thought of rising US interest rates.
Here's how major assets are starting off the week (price action on Mon, June 8th):
Brent Oil (UKOUSD): +4.7% retesting the $100/bbl psychological level for resistance once more
Gold (XAUUSD+): -0.7%, fallen to 2-month low and re-testing $4300 psychological level for immediate support
Nasdaq 100 (NAS100): +0.2%, supported around 28.8k, now resisted around 29.1k, stabilising after reaching lowest since May 20th.
Bitcoin (BTC): +1.7%, resisted around $64k after rebounding off $60k support, even briefly dipping to lowest since October 2024 (pre-Trump's election win)
Traders and investors are bracing for another eventful week!
Key Events This Week
Monday, June 8: Strategy's 8-k filing?
Wednesday, June 10: US May consumer price index (CPI) a.k.a. Inflation
Thursday, June 11: European Central Bank (ECB) rate decision
Friday, June 12: SpaceX to debut on Nasdaq
BONUS: The world's biggest football tournament is set to kick off on Thursday, June 11th.
3 Assets to Watch (June 8-12)
1) SpaceX IPO
DECODE: An IPO is the first time a private company, like SpaceX, sells shares of itself to the general public, giving everyday investors the opportunity to become part-owners of that company.
This is set to be the world's biggest IPO ever!
SpaceX is looking to sell 555.6 million shares, at $135 per share, which would give the company a value of US$ 1.77 trillion and make Elon Musk the world's first-ever trillionaire!
Here's how traders and investors can participate in the SpaceX IPO mania:
SpaceX IPO Express — use USDC to subscribe though June 11th @ 8:00AM UTC to receive tokenized SpaceX shares
SpaceX Pre-IPO Perpetual Contract — available on Bybit since May 21st
2) EURUSD+ to revisit year-to-date lows?
The world's most-traded FX pair was already featured in last week's list of "3 Assets to Watch" (June 1-5).
EURUSD+ smashed below our downside target of 1.1557 following last Friday's (June 5th) hotter-than-expected US jobs report.
Here's how this works: Stronger US jobs market → Fed has to hike interest rates → stronger US dollar → EURUSD falls
EURUSD+ warrants its place again among our 3 assets to watch, considering this week's macro events:
Wednesday, June 10: US May consumer price index (CPI) a.k.a. Inflation
Economists predict that US inflation rose on a year-on-year basis (May 2026 vs. May 2025) but eased lower month-on-month (May 2026 vs. April 2026).
Thursday, June 11: European Central Bank (ECB) rate decision
Markets widely expect a rate hike — anything else would be a shocker.
Since issuing our "death cross" alert on April 10th, EURUSD+ is one of four G10 currencies that have since weakened against the US dollar:
Danish Krone: 0.8% weaker against USD
Euro: 0.8% weaker against USD
Swedish Krona: 0.7% weaker against USD
Japanese Yen: 0.4% weaker against USD
Bloomberg's FX model currently forecasts a 77% chance that EURUSD+ will trade between 1.1414–1.1630 between now and June 15th.
POTENTIAL SCENARIOS
UPSIDE: EURUSD+ may rebound to 1.1630 if ...
NOTE: A currency tends to strengthen at the thought of its country's interest rates moving higher than its peers.
DOWNSIDE: EURUSD+ may falter to 1.1414, revisit levels not seen since mid-March, if ...
NOTE: The US dollar has been the safe haven of choice amid the Iran war, meaning that investors have preferred buying USD to help protect their wealth during times of heightened fear and uncertainty.
3) Can Bitcoin rebound back towards $70k?
At the time of writing, Bitcoin has reclaimed the $63k handle, after briefly dipping to its lowest levels since October 2024, prior to President Trump's election win.
For the immediate term, BTC's $60,000 psychological level remains the key price level to watch.
Of course, watch whether Strategy announces — perhaps via an 8-k disclosure later today — that it has returned to purchasing BTC.
Already, Strategy founder and Chairman, Michael Saylor, hinted as much, which likely helped BTC rebound overnight.
POTENTIAL SCENARIOS
UPSIDE: Restored risk appetite for cryptos may see BTC reclaim the $66k handle, which had been our June 2nd downside target/turned this week's immediate upside target.
DOWNSIDE: Further souring of crypto sentiment may drag Bitcoin down to the $56k–$57k region - a critical support zone over the 4-month period between May–September 2024.
And if you needed another reason to keep tabs on our weekly "3 Assets to Watch" report (published Mondays) ...
ICYMI: TRON rebounds perfectly off downside targets highlighted on June 1st
This was a crypto we highlighted in our previous iteration of the weekly "3 Assets to Watch" report.
As part of the "DOWNSIDE" scenario, here's what we wrote on Monday, June 1st:
By the end of the week (June 5-6) ...
TRON then perfectly rebounds off that 0.3200 psychological level, as we had anticipated since Mon, June 1.
DISCLAIMER:
This article is provided for general information and reflects the author's views only. It does not constitute investment advice, nor an offer or solicitation to buy or sell any financial instruments or digital assets. Your ability to access or use any products or services mentioned may be subject to the laws and regulatory requirements of your jurisdiction.
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