President Trump announces the creation of a strategic crypto reserve to include five major coins, sparking a crypto rally with Bitcoin trading above $90,000.

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1. President Trump announced he would issue an executive order mandating the creation of a national strategic crypto reserve which would include Bitcoin, Ethereum, Ripple, Solana, and Cardano. This triggered a wide rally in the crypto market, with Bitcoin notable trading back above the round number at $90,000. However, this rally seems to have run out of steam by now.
2. Global equities have continued to make minor advances following Friday’s widespread rally, especially in Europe as a reaction to European nations floating a plan to provide any Ukraine peace deal with guarantees after the Trump administration signaled its self-extraction from financing a continuation of the defense of Ukraine last Friday. It is clear the USA has other spending priorities.
3. In the Forex market, there was little movement in today’s Tokyo session. Within this asset class, the Euro has been the strongest major currency since today’s Tokyo open, while the US Dollar has been the weakest, putting the EUR/USD currency pair in focus.
4. Gold is holding up relatively well despite widespread strong selloffs in commodities, strongly outperforming Silver despite the typical strongly positive correlation between the two precious metals. However, it is now trading well below the round number at $2,900 and may well make a further decline. Below $2,850 institutional longs will begin to see major liquidations.
5. There will be no major data releases today. It may be a relatively quiet day in the markets, but it is likely to be a wild week so we may see some unusual volatility for a Monday. It might be smart to stay on the sidelines this week, especially for newer traders.

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