Good Evening ,
CRYPTO MARKET AWAITS FED DECISION, POWELL’S STATEMENT; WHAT TO EXPECT
The cryptocurrency market is abuzz with anticipation ahead of the Federal Reserve decision and comments from Fed Chair Jerome Powell later this week.
The U.S. Federal Reserve’s final meeting of the year is slated for this week; the Federal Open Market Committee’s meeting on Tuesday and Wednesday is of particular interest to investors eagerly expecting this year’s final interest rate decision.
Other economic statistics will be released throughout the week, including retail sales for November on Tuesday, weekly initial jobless claims and the GDP growth rate for the third quarter on Thursday.
As of Monday, markets had priced in a 97% chance of a 25-basis-point interest rate decrease. Markets will look to the Fed’s updated policy statement and Fed Chair Jerome Powell’s press conference on Wednesday for clues about future interest rate decisions.
The Fed is now undergoing a blackout period, which means committee members are unable to make public comments prior to the FOMC meeting.
What to expect?
If the Fed announces a rate cut and Powell’s comments are regarded positively, the cryptocurrency market may respond positively. Lower interest rates generally boost risk assets, including cryptocurrencies, as investors seek higher returns.
On the other hand, if Powell’s statement suggests a slowing approach or if the rate cut is smaller than expected, the market may react unfavorably. Concerns about persistent inflation and a slower pace of rate cuts might dampen investor enthusiasm.
In Monday’s trading session, the crypto market is currently posting mixed price action. Bitcoin recently surged to a new all-time high.
According to CoinMarketCap, Bitcoin’s price was recently up 1.41% daily at $103,926, after reaching a new record high of $106,554 in early Monday trading. Ethereum rose 1.62% in the last 24 hours to $3,951. The majority of cryptocurrency assets traded in the red; XRP, Shiba Inu, Toncoin and BONK lost between 2% and 4%, while SUI, BGB, Fantom and RUNE gained between 4% and 15% in the last 24 hours.
The outcomes of the Fed’s decisions and Powell’s insights might set the tone for the market in the coming days.
@ Newshounds News™
Source: Investing
~~~~~~~~~
CURRENCY: INDIAN RUPEE FALLS TO ITS LOWEST AGAINST THE US DOLLAR
The Indian rupee dipped to its lowest price point against the US dollar in the currency markets on Monday. The INR fell to an all-time low of 84.92 and is now a stone’s throw away from plummeting to 85. The DXY index, which tracks the performance of the US dollar, shows the currency touching the 107.03 mark. It had reached a 52-week high of 108.07 and could reclaim its lost territory if it holds on to the momentum.
Confidence in Trump is boosting the US dollar while other local currencies, including the Indian rupee, are taking a beating.
Several financial analysts indicate that the INR could fall below 85 due to weak economic cues. The Reserve Bank of India (RBI) is also unable to tame the fall of the INR despite accusations of selling the US dollar in the open markets.
Why Is the Indian Rupee Falling Against the US Dollar in the Currency Markets?
The rising crude oil prices and the exit of foreign institutional investors (FII) in the equities market are weakening the Indian economy.
In the last three months alone, a record $12 billion worth of equities have been offloaded by foreign institutional clients. The move weakens the Indian rupee as the US dollar flexes its muscles in the currency markets.
The development made Sensex dip from a high of 85,000 to a low of 78,000. However, the index managed to reclaim the 81,000 mark during Monday’s trade. The RBI now remains vigilant and is closely monitoring the Indian rupee’s lackluster performance against the US dollar.
The central bank has been previously accused of interfering in the currency market by dumping the US dollar to protect the rupee.
The Indian rupee is projected to lose further value against the US dollar on the heels of Trump’s inauguration. Trump has vowed to maintain the US dollar’s supremacy and punish the countries that plan to cut ties with the greenback. The threats include a 100% tariff on all goods entering the US for trade.
@ Newshounds News™
Source: Watcher Guru
~~~~~~~~~
24 HOURS TO STOP TOTAL SURVEILLANCE BEFORE IT’S TOO LATE? | Youtube
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
~~~~~~~~~
Seeds of Wisdom Team RV Currency Facts Youtube and Rumble
Newshound’s Podcast Link
Newshound’s News Telegram Room Link
Q & A Classroom Link
Follow the Roadmap
Follow the Timeline
Seeds of Wisdom Team™ Website
Subscribe to Seeds of Wisdom Team™ Newsletter
