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Both WTI and Brent crude oil fell by $0.70 to $75.07 and $79.61 per barrel, respectively.On August 5th, Minneapolis Fed President Neel Kashkari, a 2026 FOMC voting member, stated in an interview with CNBC on Wednesday that the Federal Reserve should now "start gradually raising" interest rates to reduce inflation and avoid the need for larger rate hikes in the future. Kashkari was one of three voting members who supported a 25-basis-point rate hike at last weeks FOMC meeting. He stated that with strong corporate earnings, resilient consumer and labor markets, and no evidence that monetary policy has become significantly restrictive, its time to begin gradually raising rates. He emphasized that this does not advocate for large rate hikes, but rather a desire for "small steps" to avoid being forced into aggressive policy tightening once inflation becomes deeply entrenched. He added that its uncertain what action the FOMC will take in September, and future data will play a crucial role. Meanwhile, Kashkari stated that Fed Chairman Warsh did not pressure him, telling him, "Do what you think is right for the economy."A Goto survey shows that 30% of American employees say they can no longer live without artificial intelligence.On August 5th, Federal Reserve Chairman Neel Kashkari, in an interview with CNBC, stated that he remains open to future policy options and does not advocate for significant interest rate hikes. He believes that most recent inflation stems from supply shocks, coupled with some demand-side factors. Kashkari stated in the CNBC interview, "My goal is not to slow the economy, but to reduce inflation." He believes now is the time to begin gradually raising interest rates, but he does not support a significant increase. Kashkari emphasized the value of continuing the tradition of explaining the Feds policy response mechanism to the public. He stated, "Dont think theres some magic number of meetings (to decide policy actions)."The U.S. Treasury will maintain its repurchase program at the same pace as last quarter.

Despite Bearish BTC Session, BTC Fear & Greed Index Avoids Sub-30

Daniel Rogers

Nov 08, 2022 16:18

 截屏2022-11-08 下午4.10.25.png

 

Bitcoin (BTC) declined by 1.54% on Monday to end the day below $21,000 for the second consecutive session. BTC and the broader market dissociated from the NASDAQ Composite Index, as crypto investors await the US CPI report this week. The Bitcoin Fear & Greed Index decreased from 33/100 to 31/100 as the bearish BTC session weighed on the index.

 

Bitcoin (BTC) decreased by 1.54% on Monday. Sunday's closing BTC price was $20,609, following a 1.79% fall. Notably, Bitcoin closed the day for the second consecutive session below $21,000.

 

BTC reached a day's early high of $21,083 despite a shaky start. BTC reached a late-day low of $20,421 after failing to surpass the First Major Resistance Level (R1) at $21,240. Before partially recovering to $20,609, BTC fell through the First Major Support Level (S1) at $20,762 and the Second Major Support Level (S2) at $20,592.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads beginning at 0 pips and commissions of $3.50 every 100k traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

A lackluster economic calendar in the United States hindered BTC. This week, US inflation, retail sales, and consumer sentiment data will impact market sentiment towards the US economy and a December Fed turn.

 

However, the NASDAQ Composite Index increased by 0.85% on Monday, as optimism surrounding the US midterm elections provided support. Later today, the US economic calendar will feature another day of inactivity, leaving investors in suspense as the attention remains on the midterm elections. The NASDAQ mini was up 15.5 points this morning.

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