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On March 19th, a research report from CICC stated that the Federal Reserves decision to maintain interest rates at its March meeting was in line with market expectations. The dot plot and economic forecasts indicate upward revisions to inflation expectations and a narrowing of the room for rate cuts, suggesting a cautious overall policy stance. Although Powell believes the uncertainty surrounding oil price shocks is significant and the economy remains resilient, we believe the actual situation is more complex. Tariffs and immigration policies have already constrained supply, and coupled with the oil price shock, the US economy is entering a "stagflation-like" phase. Simultaneously, private lending risks are emerging, and financial conditions may tighten spontaneously. Against this backdrop, the Fed may remain on hold in the short term due to inflation stickiness; in the medium term, as demand weakens or financial risks escalate, policy will face pressure to passively shift towards rate cuts. We expect the Fed to maintain interest rates unchanged in the first half of the year, with a resumption of rate cuts postponed until the second half. However, if rate cuts are a passive response to a deteriorating economic or financial environment, it will be difficult to boost market risk appetite.Samsung Electronics shares fell 4%, and SK Hynix shares fell 4.2%.According to the Wall Street Journal, sources say India has purchased more than 30 million barrels of unsold Russian oil. More deals are expected soon.March 19 (Futures News) – According to foreign media reports, Chicago Board of Trade (CBOT) corn futures closed higher on Wednesday, with the benchmark contract rising by about 2%, mainly reflecting the strength of Brent crude oil futures and the potential reduction in U.S. corn planting area this spring. A research report released by Bank of America indicates that the agricultural futures market has not yet fully felt the full impact of the turmoil in the Strait of Hormuz. The ripple effect caused by the sharp fluctuations in crude oil and natural gas prices has begun to transmit to the cost side of agricultural inputs such as fertilizers and fuels. If fertilizer prices remain high and supply tightens, the expected yield of major crops such as U.S. corn may face severe challenges. According to a survey of farmers conducted by Allendale, the U.S. corn planting area this year is expected to be approximately 93.68 million acres, a decrease of 5.12 million acres from last year, and also lower than the 94 million acres predicted by the U.S. Department of Agriculture at a forum last month.Saudi Foreign Minister: We don’t know when the war will end.

ADA Price Prediction: Hot US Stats to Test Buyer Appetite at $0.370

Skylar Shaw

Nov 03, 2022 15:37

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ADA dropped on Wednesday by 3.74%. Tuesday saw a loss of 1.23% for ADA, which closed the day at $0.38. It's noteworthy that ADA closed the day below $0.400 for the first time in six sessions.


After a choppy morning session, ADA surged to a high of $0.409 in the late afternoon. The price of ADA dropped to a late low of $0.380 after failing to surpass the First Major Resistance Level (R1) at $0.411. At $0.394 and $0.388 respectively, the First Major Support Level (S1) and Second Major Support Level (S2) were breached by ADA, which closed the day at $0.386.


A bumpy afternoon session was brought on by US economic data, the FOMC policy decision and Rate Statement, and Fed Chair Powell's press conference.


Hope for a December pivot is dashed by Fed Chair Powell.


Investors were not diverted from the FOMC policy decision or Fed Chair Powell's press conference by updates from Input Output HK (IOHK) or its creator Charles Hoskinson.


Due to lack of authority, NASDAQ Composite Index and Fed Chair Powell controlled ADA.


After soaring to a day high in response to the FOMC Statement, ADA fell in response to Fed Chair Powell's news conference. With his declaration that "final level of interest rates would be higher than previously projected," Fed Chair Powell put an end to expectations of a December Fed turnaround. ADA decreased to a day low of $0.380 before leveling out.


The NASDAQ Composite Index reacted to Powell's speech as well, finishing the day down 3.36%.


US economic figures will be of importance later today. Factory orders, unemployment claims, and the ISM Non-Manufacturing PMI will provide ADA guidance. In the absence of IOHK network updates, the ISM Non-Manufacturing PMI and its sub-components would probably have the most impact.

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