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Hang Seng Index futures closed up 1.25% at 19,841 points in the night session, 257 points higher than the previous session.Congressional Budget Office (CBO): The cost of clean energy subsidies in the inflation-proof bill is now expected to be $825 billion between 2025 and 2035, compared with an estimated cost of $270 billion between 2022 and 2031.The Federal Reserve accepted a total of $118.327 billion from 32 counterparties in fixed-rate reverse repurchase operations.The Federal Aviation Administration (FAA) said it was working with SpaceX and relevant authorities to confirm reports of damage to public property in the Turks and Caicos Islands.Futures traders are adjusting their bets in the Treasury market after mild inflation data and dovish comments from a Federal Reserve official. Over the past two days, the volume of open interest has changed, consistent with traders exiting short positions in two-year Treasury bonds and establishing new long positions in longer-term Treasury contracts, especially in the five-year Treasury. The shift came after consumer price inflation data released on Wednesday and comments made by Federal Reserve Governor Christopher Waller the next day. Data released on Wednesday showed that core price increases in December were lower than economists expected; Waller said that if the trend continues, officials may cut interest rates again in the middle of the year. Morgan Stanleys interest rate strategists suggested late Thursday that long positions could be established in Treasury bonds of this term given expectations that the Federal Reserve will cut interest rates in March, but this is still a minority view. The swap market expects only a 6 basis point rate cut in March, which means there is about a 25% chance of a 25 basis point cut. “We haven’t ruled out a rate cut in March, but we do see it as more of a tail risk,” said Stephanie LaRosiliere, head of fixed income strategy at Invesco. “It doesn’t feel like the Fed needs to react so hastily.”

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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