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Note: Federal Reserve Chairman Warsh will speak in Jackson Hole at 10:00 a.m. ET on August 28 (10:00 p.m. Beijing time on August 28).On August 21, the U.S. State Department announced on August 20 that it had approved a potential arms sale to Qatar, including aerial refueling tankers and related equipment, with a total estimated value of up to $4.5 billion. In a statement, the State Department said Qatar had offered to purchase up to four KC-46A aerial refueling tankers, along with engines, radar warning receivers, infrared countermeasures systems, and other related accessories and services. The statement said the sale would help enhance the security capabilities of “U.S. strategic regional partners,” thereby supporting U.S. foreign policy and national security objectives; it would also strengthen Qatar’s defense capabilities and its interoperability with U.S. and allied forces, and solidify Qatar’s strategic role in regional security. The KC-46A is the latest type of tanker aircraft in service with the U.S. Air Force, developed by Boeing based on the Boeing 767 passenger aircraft. The first aircraft was delivered to the U.S. Air Force in January 2019. According to Boeing, in addition to aerial refueling support, the aircraft possesses the operational capabilities and data transmission functions required for a multi-mission tanker.Market news: Blackstone Group (BX.N) and Apollo Corporation are in talks to participate in chip financing.According to CNBC, Hyundais CEO said the company will increase U.S. production capacity at its new Georgia plant.The Dow Jones Industrial Average closed down 700.75 points, or 1.31%, at 52,762.30 on Thursday, August 20; the S&P 500 closed down 66.42 points, or 0.86%, at 7,641.56; and the Nasdaq Composite closed down 263.92 points, or 1.00%, at 26,067.17 on Thursday, August 20.

Crypto Market Daily Highlights: XRP Led a Choppy Top Ten Session

Jimmy Khan

Feb 23, 2023 16:01

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It was a mixed session for the crypto top ten on Wednesday. XRP led the way, with BNB, DOGE, and MATIC bucking the bearish trend. The mixed session left BTC short of the $25,000 handle for the second time in seven sessions.


On Wednesday, the heavily anticipated FOMC meeting minutes drew plenty of interest. Less hawkish than expected, the broader crypto market cap responded to the minutes with a late partial recovery.


There were no surprises, with the minutes noting that inflation remained well above the Fed target and that labor market conditions are still very tight, contributing to the upward trend in wages and prices.


However, the markets were mindful of the shift in sentiment toward the US economy, labor market conditions, and inflation since the last FOMC meeting. The US unemployment rate fell to 3.4%, spending rebounded, service sector activity surged, and inflation remained sticky, questioning Fed Chair Powell’s disinflation view.


Mixed sentiment toward the minutes left the Dow and the S&P 500 with losses of 0.26% and 0.16%, respectively, while the NASDAQ Composite rose by 0.13%.


It was also a busier session on the crypto news wires. New York Attorney General filed charges against CoinEx for failing to register as a securities and commodities broker-dealer. NFTs were in the spotlight, with a Federal Judge ruling that NBA Top Shot NFTs could be unregistered securities.

The Day Ahead

In the afternoon session, US economic indicators and the NASDAQ Index will likely provide direction. Initial jobless claims and Q4 GDP numbers will be in the spotlight. An unexpected fall in jobless claims and a hotter-than-expected US economy could fuel Fed Fear.


Investors should also monitor Fed chatter. FOMC member Bostic speaks today. Following the FOMC meeting minutes, investors may need more up-to-date guidance on where the Fed stands vis-à-vis inflation, the economic outlook, and interest rates.


However, the crypto news wires also need tracking for events that could move the dial. Binance will remain a focal point, with FTX, Genesis, and Silvergate Bank updates needing consideration. However, regulatory activity and US lawmaker chatter will remain the key drivers.


The NASDAQ mini was up 69.5 points this morning, supporting the crypto market in the final hour.


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