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On May 14th, US international trade commodity prices rose sharply in April, with import prices (market expectation +1.0%) rising 1.9% month-over-month and export prices (market expectation +1.1%) surging 3.3%. This much-anticipated increase indicates that the ongoing conflict with Iran continues to exert pressure on input costs, a point already reflected in the Feds Beige Book in early April as a compression of corporate profit margins. Core import prices (excluding fuel) had already begun to rise significantly before the Iran conflict, and this months 0.8% increase was the same as in February, but this may already include the secondary impact of rising energy prices. Food and feed prices were also significantly affected by rising oil prices, rising 1.1% in March and then another 0.9% in April. Industrial supplies and raw materials (excluding fuel) rose 1.6%; fuel prices surged 16.3%. Capital goods prices were also worrying, rising 1.1%. Consumer goods rose 0.4%, a relatively moderate increase, but still high; automobile prices fell slightly by 0.1%.On May 14th, executives from over ten well-known American companies accompanied President Trump on his visit to China, including Apple CEO Tim Cook, Nvidia founder and CEO Jensen Huang, Tesla CEO Elon Musk, and Qualcomm President and CEO Cristiano Amon. In an interview, Amon stated that the Chinese economy is dynamic.The SC crude oil futures contract fell 2.00% during the day, currently trading at 617.40 yuan per barrel.The European-Mediterranean Seismological Centre reports a 5.5-magnitude earthquake in the Colombian region.May 14th - Traffic in the Strait of Hormuz has increased this week, but analysts warn that more vessels are turning off their Automatic Identification System (AIS) tracking signals during transit. According to Lloyds List, a shipping publication, tanker owners are preparing for prolonged shipping disruptions as regional risks remain high. Current traffic volume is still far below pre-conflict levels. At that time, approximately 130 vessels carrying about 20% of the worlds oil and gas supply passed through the strait daily.

BTC Fear & Greed Index Avoids Fear But Sends a Bearish Price Signal

Alice Wang

Mar 01, 2023 15:41

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Bitcoin (BTC) decreased by 1.53% on Tuesday. Bitcoin gained 0.03% to $23,142 at the month's conclusion after dropping 0.25% on Monday. Bitcoin fell shy of the $24,000 mark for the fourth day in a row following the negative session.


Bitcoin recovered from a turbulent morning to reach a late-afternoon peak of $23,615. Bitcoin fell to a late low of $23,066 after failing to surpass the First Significant Resistance Level (R1) at $23,885. Before finishing the day at $23,142, Bitcoin momentarily breached the First Significant Support Line (S1) at $23,125 to test support.


Fed anxiety and regulatory activity put Bitcoin on the defensive.


On Tuesday, investor confidence suffered from the NASDAQ Composite Index and the cryptocurrency news channels.


Alarm alarms went off when it was reported that the SEC had subpoenaed Robinhood (HOOD).


Speculation that Visa (V) and Mastercard (MA) might rethink their plans for cryptocurrency was also unfavorable. Bitcoin usage continues to be a major price influencer. Growth and price movement in the cryptocurrency market would be greatly impacted by a change in Main Street trader opinion.


Nevertheless, despite dismal US economic data, Fed Anxiety persisted in dampening investor mood. The CB Consumer Sentiment Index dropped from 106.0 to 102.9 in February, and the property industry statistics were also unfavorable.


Despite the disappointing figures, the US labor market is extremely constrained and inflation is still tenacious, backing a more active interest rate track to bring inflation to goal.


To end a negative month, the NASDAQ Composite Index decreased by 0.10 percent on Tuesday. The NASDAQ mini was down 54.5 points this morning.


There will also be curiosity in the Day Ahead Business Indicators. Prior to the US session, China's private sector PMIs will have an impact. We anticipate that China's poor economic data will rekindle recessionary worries and test investors' desire for risky assets.


The NASDAQ Composite Index and US economic data will have an impact on the midday session. The February US industrial PMI figures will be closely watched. It would be negative if the ISM Manufacturing PMI unexpectedly dropped. However, throughout the day, FOMC member conversation will also affect investor interest.


We anticipate that the bitcoin news networks will keep offering guidance. Buyers should keep an eye on the crypto news channels for discussions among US lawmakers and regulation developments. Updates on Binance and FTX as well as information from the current SEC v. Ripple lawsuit need to be taken into account.

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