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The euro rose to a one-month high against the dollar (EUR/USD), currently trading at 1.1678. The pound rose to a one-month high against the dollar (GBP/USD), currently trading at 1.3294.Ubers (UBER.N) CEO plans to travel to Asia next week, visiting Japan and South Korea. During the trip, he will meet with government officials, business leaders, and Uber employees.December 3 – European Central Bank Chief Economist Lane said on Wednesday that several “upside surprises” have recently occurred in eurozone inflation, raising questions about the ECB’s expectation that inflation will fall early next year. Speaking at an event, Lane noted, “Inflation risks are not one-way; we have recently observed some upside surprises.” He added, “Due to lower energy prices, we had clearly predicted that inflation would fall below the target level, especially in the first few months of next year. But since then, some data have actually moved in the opposite direction, and these changes constitute a moderating factor in our current forecast.”Bank of America Global Research has raised its price target for Amazon (AMZN.O) to $303.00, up from $272.00 previously.December 3rd - Official Swiss data showed that Switzerlands inflation rate unexpectedly slowed by 0.1 percentage point in November, falling to 0%, slightly below expectations. Economists said on Wednesday that despite the lower-than-expected inflation rate, falling to the lower end of the Swiss National Banks (SNB) target range, the SNB will maintain its zero-interest-rate policy next week and throughout 2026, rather than opting for negative interest rates. J.Safra Sarasin economist Karsten Junius stated, "There is no need to adjust policy." Rudolf Minsch, chief economist of the Swiss Economic Union, a major Swiss business lobbying group, also predicts that the SNB will maintain zero interest rates next week and throughout 2026, while Switzerlands inflation rate will rise to around 0.4% next year. He said, "Negative interest rates would also have adverse effects and should only be used when urgently needed, but we havent seen that."

Prediction for ADA Price: US Inflation and the NASDAQ Will Deliver $0.325

Daniel Rogers

Dec 09, 2022 15:19

截屏2022-12-09 下午3.02.31.png 

 

IOHK network updates and US economic statistics may test buyer interest on Friday, following Thursday's high day for ADA.

 

On Thursday, ADA jumped 1.61 percent. ADA closed at $0.315 on Thursday, partially reversing Wednesday's 2.52% loss. Notably, the price of ADA dropped below $0.310 for the second time in eight sessions and ended a three-session losing trend.

 

ADA dropped to a morning low of $0.307 after a bearish start to the day. ADA reached a late-day high of $0.316 after avoiding the First Major Support Level (S1) at $0.0305. Nevertheless, unable to surpass the First Major Resistance Level (R1) at $0.318, ADA ended the day at $0.315.

 

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Thursday, US economic figures bolstered the likelihood of a December Fed policy shift. During the week ending December 2, initial jobless claims rose from 226 thousand to 230 thousand. Following the release of last week's US Employment Report, concerns about a pick-up in the rate of hiring cast doubt on the Fed's plans to slow the rate of interest rate hikes.

 

Cardano network improvements were also favorable for the ADA price, averting a drop below $0.300. Charles Hoskinson, the company's founder, was in the limelight, highlighting the benefits of the Midnight privacy protocol meant to provide smart contracts with anonymity.

 

It was another instance of ongoing activity on the Cardano network, although the information was insufficient to warrant a breakout session.

 

Input Output HK (IOHK) will provide the weekly Development Update later today. A surge in network projects would result in an increase in ADA prices. However, the NASDAQ and US economic indices will need to provide support. The wholesale inflation and consumer confidence numbers in the United States will impact market risk sentiment.

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