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On September 16th, Deutsche Banks analysis of ETFs revealed that overseas investors are significantly reducing their dollar exposure at an "unprecedented rate" by using currency hedging when purchasing U.S. stocks and bonds. Citing data from over 500 funds, George Saravelos, the banks global head of FX research, noted that for the first time this decade, inflows into dollar-hedged ETFs buying U.S. assets have exceeded inflows into non-hedged funds. Saravelos believes this hedging behavior explains why the dollar has remained weak even as international investors poured money back into U.S. assets after Trumps tariffs disrupted markets earlier this year. At the time, there was speculation that trade war risks could dampen investor interest in U.S. stocks, bonds, and the dollar itself. Saravelos wrote: "The FX implication is clear: foreign investors may have returned to U.S. assets (albeit at a slower pace), but they are not willing to take on the dollar exposure that comes with it. For every dollar-hedged asset purchased, an equal amount of currency is sold to eliminate the FX risk."On September 16, the British government announced that Royal Air Force fighter jets will carry out air defense missions over Poland. The British Ministry of Defense stated that British fighter jets will join allied forces from Denmark, France and Germany to strengthen NATOs defense capabilities.On September 16th, the Swiss Federal Institute of Technology in Lausanne (EPFL), the Swiss Federal Institute of Technology in Zurich (ETH Zurich), and the Swiss National Supercomputing Center (CSCS) jointly released a large-scale open-source language model called Apertus. Apertus, meaning "open" in Latin, truly takes openness to its extremes. While major American models like OpenAIs GPT series, Metas Llama, and Anthropics Claude still play with "data black box" magic, Apertus makes its entirety, from model weights and architecture to training code, data recipes, and even complete training process documentation, completely public, without any hidden secrets.French Central Bank Governor François Villeroy de Villeroy: France should continue to maintain its deficit target at 3% in 2029.French Bank Governor Villeroy de Villeroy: The former Prime Ministers budget plan can be improved in terms of tax fairness.

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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