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Market news: An earthquake warning has been issued in Mexico City.February 9th - Japanese Finance Minister Satsuki Katayama stated that she would communicate with financial markets on Monday, if necessary, to calm market sentiment as soon as possible. However, she also warned of the possibility of intervention in the yens exchange rate at any time. Katayama revealed that she maintains close contact with US Treasury Secretary Bessenter, sharing the responsibility of maintaining the stability of the dollar-yen exchange rate. She explained that Japan and the US have signed a memorandum of understanding stipulating that decisive measures can be taken against rapid fluctuations deviating from fundamentals, which certainly includes intervention. She reiterated that she is closely monitoring financial markets, while emphasizing her commitment to responsible fiscal policy and stressing the governments strong focus on fiscal sustainability and its desire to maintain it.February 9th - According to NHK, the ruling coalition of the Liberal Democratic Party and the Japan Restoration Party won a majority of seats in the House of Representatives election held on the 8th.Musk: Teslas electric semi-truck will begin mass production this year.February 9th - Goldman Sachs trading arm stated that after a rebound in U.S. stocks last Friday, almost recovering the weeks brutal losses, this week will face further selling pressure from trend-following algorithmic funds. The S&P 500 has broken through a short-term trigger point, prompting commodity trading advisors (CTAs) to sell stocks. Goldman Sachs expects these systematic strategies, which track stock market movements rather than fundamental factors, to remain net sellers in the coming week, regardless of market direction. Goldman Sachs stated that if the stock market falls again, it could trigger approximately $33 billion in selling this week. If market pressure persists and the S&P 500 falls below 6707 points, there could be as much as $80 billion in systemic selling over the next month. In a stable market environment, CTAs are expected to sell approximately $15.4 billion in U.S. stocks this week, and even if the stock market rises, these funds are still expected to sell approximately $8.7 billion.

BTC Fear & Greed Index Signals Steady Session Despite Bearish Mood

Skylar Shaw

Dec 29, 2022 14:15

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0.97% less bitcoin (BTC) was traded on Wednesday. BTC finished the day at $16,558 after losing 1.33% on Tuesday. Notably, BTC fell below $16,500 for the first time in eight sessions while failing to reach $17,000 for the eighth straight session.


After a rocky morning, BTC increased to a high of $16,797 in the middle of the afternoon before going backward. BTC declined to a late low of $16,444 after falling short of the First Major Resistance Level (R1) at $16,932. At $16,562, BTC breached the First Major Support Level (S1) before closing the day at $16,558.

Recession and the Fed Geopolitics and phobias transacts in NASDAQ and BTC South

Investor mood was negatively impacted by Russia's embargo on oil shipments to nations with price ceilings and China's continued relaxation of COVID-19 restrictions. The possibility of a hard landing is increased by worries that a spike in raw material demand would drive up commodity prices and force the Fed to continue raising interest rates.


A sharp increase in new COVID-19 cases throughout China, however, was equally unfavorable. The possibility of further COVID-19 versions and yet another global border closure increased the pessimistic feeling. Governments are placing restrictions on visitors from China in response to the most recent COVID-19 revelations.


Riskier assets suffered losses of 1.35% and 1.20% on the NASDAQ Index and S&P 500, respectively, as a result of the adverse attitude.


The US economic calendar is quite quiet today. However, curiosity will be piqued by US unemployment claims data. Better-than-expected results would encourage the Fed hawks given the US unemployment rate of 3.7% and the Fed's aggressive interest rate trajectory.


Investors should also keep an eye on any FOMC member discussion and the cryptocurrency news wires. Talk of the hawks would exacerbate the negative feeling. BTC is most likely to follow the NASDAQ Index throughout the afternoon session, barring any significant crypto happenings. This morning, early support came from the NASDAQ mini, which was up 18 points.


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