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Reserve Bank of New Zealand Governor Hawkesby: The committee is more comfortable with inflation expectations than earlier this year.On November 26th, US President Trump stated on social media on November 25th that the USs new "28-point" plan to end the Ukraine crisis has been further refined. Currently, disagreements remain regarding some clauses, and the US will send representatives to communicate separately with both Russia and Ukraine on the plan. Ukrainian President Zelenskyy stated on the same day that he was willing to meet with Trump to discuss some issues related to the "peace plan." Furthermore, Ukrainian negotiators also denied on the 25th US media reports that Ukraine had "agreed in principle" to the US "peace plan."November 26th - According to a report in the Yomiuri Shimbun on Wednesday, Japans opposition parties are stepping up preparations in case Prime Minister Sanae Takaichi announces a snap election. Some analysts believe that a snap election could occur as early as January next year, which would affect the governments economic policies, including the deliberation of Japans annual long-term fiscal blueprint, which is expected to be released around June next year. Depending on the timing of the election, it could also affect the pace and timing of the Bank of Japans interest rate hikes. The Bank of Japan typically avoids making major policy adjustments before elections. Jun Azumi, secretary-general of Japans largest opposition party, the Constitutional Democratic Party, said on Tuesday that the party would cooperate with other parties to win back seats from the ruling coalition.New York silver futures rose 1.00% on the day, currently trading at $52.15 per ounce.The yield on Japans 40-year government bonds rose 1.5 basis points to 3.705%.

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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