Financial Analyst/Content Writer, RADEX MARKETS
Lawrence J. came from a strong technical and engineering background before pivoting into a more financial role later on in his career. Always interested in international finance, Lawrence is experienced in both traditional markets as well as the emerging crypto markets. He now serves as the financial writer for RADEX MARKETS.
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A collective sigh of relief swept over Wall Street yesterday following the latest CPI reading. While core inflation increased to 3.1% in July, beating both expectations and the June figure, headline inflation remained at 2.7%, below economists’ predictions. The publication was reason enough to drive US stocks higher, pushing the S&P 500 and Nasdaq Composite indices to new record highs by Tuesday evening. With the latest inflation data out of the way, markets now have a relatively clear view of the US economy. Inflation levels, while not ideal, remain manageable. The labour market on the other hand appears to be struggling. By most accounts, this is a straightforward setup to lower interest rates on the Dollar in September and judging by overall sentiment, market participants seem to agree. The optimism has even spread as far as Japan, where the Nikkei 225 closed at record highs yesterday. The index continued to push higher still this morning, breaking above 43,000 points for the first time in its history. The economic calendar will provide another insight into US inflation on Thursday, this time in the form of the Producer Price Index, which is predicted to rise to 0.2% in July.
Bitcoin remains near all-time highs of $120,000 but attentions are currently turned towards the broader altcoin market. Ethereum is currently toying with a record high of its own after a 9% surge yesterday pushed the token price above $4,600. The project rose to similar highs back in 2021 when prices topped out around $4,800 but the ensuing bear market destroyed such valuations for years to come. The increasingly loud question being floated around is whether “alt season” is finally back in play. Bitcoin dominance fell below 60% recently but has a long way further to fall before such claims can be substantiated. Shares in Robinhood (HOOD) closed at a record high last Friday, while paradoxically Coinbase (COIN) remains around 25% down from its peak in July.
Эрсдлийн дохио : Худалдааны дериватив ба хөшүүрэг бүтээгдэхүүн нь өндөр түвшний эрсдэлтэй байдаг.
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