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Affected by better-than-expected US PPI data and rising oil prices, the yield on German two-year government bonds jumped nearly 6 basis points to 2.435%, while the yield on Italian two-year government bonds rose 7.2 basis points to 2.671%.March 18th - The US February PPI rose more than expected, and may accelerate further as the Middle East war pushes up oil prices and import transmission continues. The US Bureau of Labor Statistics said Wednesday that the February PPI surged 0.7% month-over-month, driven by the service sector, while the January increase was revised to 0.5%. The war between the US and Israel and Iran, which began at the end of February, has already driven oil prices up by more than 40%. Economists expect the inflationary impact of the war to be reflected in the March Consumer and Producer Price Report, to be released next month. The Federal Reserve is expected to keep interest rates unchanged later today. Fed officials will submit new economic projections, and economists expect inflation forecasts to be revised upwards; financial markets expect only one rate cut by the Fed this year.Traders further reduced their bets on a Federal Reserve rate cut in 2026.U.S. Democratic Senator Warren claims that Trump is limiting the Federal Reserves room to cut interest rates.March 18th - InvestingLive analyst Adam Button stated that this is the last undisturbed PPI data before the outbreak of war with Iran. He expects a significant jump in the US March PPI data, but this is not a good benchmark, as its year-on-year figure will be the highest since January 2025.

Crypto Market Daily Highlights – BNB and SOL Buck the Top Ten Trend

Cory Russell

Oct 31, 2022 15:41

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The crypto top 10 had a choppy Sunday session. The top ten trend was defied by solana (SOL) and binance coin (BNB). BTC saw its first negative session in three sessions despite avoiding the sub-$20,000 level for a fifth straight day.


The Sunday dip was probably caused by profit-taking as there was no cryptocurrency event for investors to consider.


Although the week was positive due to expectations of a December Fed turnaround, market jitters may develop before of Wednesday's FOMC interest rate decision and the crucial press conference by Fed Chair Powell.


The markets continued to factor in a 75-basis point Fed rate increase this morning. Nevertheless, there is still ambiguity about the Fed's December intentions. Labor market conditions, personal spending, and Q3 GDP data imply greater front-loading whereas private sector PMIs, housing data, and consumer confidence data indicate a less hawkish Fed.


The likelihood of rate increases in November and December, according to the FedWatch Tool, are 80.3% and 44.3%, respectively. The probability of a 75-basis point increase in December was 45.6% a week ago.


The NASDAQ 100 and cryptocurrency markets' sensitivity to US economic data and the FED maintains their short-term link. The NASDAQ 100 Mini was down 52.5 points this morning.


Bitcoin Market Declines As investors lock up profits, there is a shortfall of $1 trillion.


The cryptocurrency market increased to a mid-morning high of $996.5 billion after a rocky start to the day. The crypto market, however, dropped to a low of $962.3 billion following a downturn in the late morning and a negative afternoon.


Late support reduced the shortfall to $9.2 billion as the cryptocurrency market cap concluded the day at $972.4 billion. The crypto market increased by $74.1 billion over the course of the week despite the Sunday drop.


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