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On November 5th, the U.S. Navys aircraft carrier USS Gerald R. Ford and its escorting destroyer USS Bainbridge transited the Strait of Gibraltar westward on November 4th, heading towards the Caribbean Sea. The USS Ford traveled at approximately 15 knots (27.78 km/h) through the strait and is expected to arrive in the U.S. Southern Commands area of responsibility, encompassing the waters surrounding Latin America, by mid-November. The remaining ships of the USS Ford carrier strike group are currently deployed in Europe and the Middle East.On November 5th, gold futures fell further below the $4,000 per ounce mark, with some analysts calling the decline a "correction." RJO Futures analyst John Caruso stated in a report, "I think this is a halftime break, but I also acknowledge that the correction could deepen further in the short term." However, Caruso emphasized that prices could rise further after this pressure subsides, and he has not yet seen gold prices bottom out.According to Fox News reporters, multiple Republican sources in the U.S. House of Representatives indicated that the House may reconvene over the weekend to try to reach an agreement. However, this will not solve the healthcare problem.According to a Fox News reporter, Senate Majority Leader John Thune stated that it remains unclear whether the two parties have reached an agreement on a deadline for a new temporary funding bill. This could continue into January.U.S. Senate Republican Leader Thune: Talks are underway regarding the deadline for a new temporary funding bill.

Crypto Market Daily Highlights: Fed Fear and Regulatory Jitters Weigh

Cory Russell

Feb 28, 2023 15:13

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On Monday, the top ten cryptocurrency index had a split session. While XRP defied the negative pattern, MATIC topped the top ten in losses. For the third session in a row, Bitcoin fell shy of $24,000 due to the negative session.


Short-term early afternoon support came from US economic data and the NASDAQ Composite Index. US orders for core durable products rose by 0.7% in January, correcting a 0.4% drop in December. A 0.1% increase is predicted by economists. The favored Goods Purchases Non-Defense Ex Aviation index of the Federal Reserve rose by 0.8%, correcting a 0.3% decline from December.


The most recent figures from the US, however, are yet more encouraging economic signs, backing a more active interest rate track from the Fed to bring inflation back to goal.


The introduction of a worldwide crypto regulatory structure has added regulatory ambiguity, which has continued to dampen investor interest. Investors were given a preview of what to anticipate by G20 news and G20 post-meeting remarks.


A Forbes story on Binance moving $1.8 billion in user assets to hedge funds on Monday put the market's perception to the test amid intensified regulatory and parliamentary examination. As of the time of writing, CZ, the Leader of Binance, had not commented on the story.


The Day Ahead Buyers should keep an eye on the crypto news channels for any regulation developments and any congressional chitchat. Along with news from the current SEC v. Ripple lawsuit, developments on Binance and FTX are important to take into account.


The midday session will be influenced by US economic data and the NASDAQ Composite Index. There will be a lot of curiosity in the February US consumer sentiment numbers. The Fed would feel more confident making more bold steps to fight inflation if consumer confidence rose.


As a result of decline purchasers providing much-needed assistance, the NASDAQ Composite Index increased by 0.63% on Monday. Today's morning saw a 9-point gain for the NASDAQ mini.

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