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July 19th - According to NewsNation: US President Trump reiterated that Iran "cannot and should not have nuclear weapons." After Iran announced a suspension of its commitments under the interim agreement, Trump stated that he "doesnt care at all."Iranian Foreign Minister Araqchi and Iraqi Foreign Minister Fuad Hussein held a telephone conversation to discuss the situation in the Middle East and bilateral cooperation.U.S. Commerce Secretary Rutnick: The United States has reached a very good agreement on the Gordi Howe International Bridge (the U.S.-Canada transnational bridge). The United States will receive 50% of the net revenue up to 2041 and will have a say in setting tolls.According to the New York Times, U.S. officials said that Iranian attacks on U.S. military bases in Jordan damaged several U.S. helicopters and injured dozens of U.S. personnel.July 19th - According to the Wall Street Journal, the U.S. labor market remains robust according to most key indicators. However, nearly two million Americans have been unable to find work for at least six months. Data from the U.S. Department of Labor shows that in June, the number of long-term unemployed (unemployed for 27 consecutive weeks or more) accounted for 27.3% of the total unemployed, up 4 percentage points from a year ago. This proportion is close to its highest level since the end of 2021. Because the overall unemployment rate remains low, the size of the long-term unemployed population is not yet sufficient to cause a substantial shock to the economy. However, analysts say its ripple effects are accumulating. Preston Mooy, senior economist at Employ America, said, "We havent seen large-scale layoffs in the past few years, so the number of short-term unemployed has remained relatively stable. But at the same time, hiring activity has seen a fairly significant decline." Even if some long-term unemployed people find new jobs, the weak hiring environment means more people are constantly joining the long-term unemployed group, keeping this number consistently high.

Crypto Daily Market Highlights: Regulatory Risk and Fed Fear Weigh

Cory Russell

Mar 01, 2023 15:22

The top ten cryptocurrency index had a negative afternoon on Tuesday. The top ten entered the red with ADA's help. Bitcoin fell below $24,000 for the fourth straight session during the negative session.


Even though February's consumer confidence figures were lower than anticipated, US economic measures came up short. From 106.0 to 102.9, the CB Consumer Sentiment Index decreased.


With the S&P/CS HPI Index - 20 n.s.a increasing by 4.6% year over year in December, housing industry statistics also sent a negative indication. November saw a 6.8% increase in the Index. High US mortgage rates had an impact on demand, which slowed the increase in home prices.


To end a negative month, the NASDAQ Composite Index decreased by 0.10 percent on Tuesday. Investor mood was still being affected by the possibility of a higher for extended Fed interest rate trend. The NASDAQ mini was down 36.25 points this morning.


News about the cryptocurrency market, however, heightened the pessimism. Regulation action kept grabbing people's interest. Alarm alarms went off when it was reported that the SEC had subpoenaed Robinhood (HOOD). Moreover, there were reports that Visa (V) and Mastercard (MA) would rethink their plans for cryptocurrency.


The Day Ahead Buyers should keep an eye on the cryptocurrency news channels for any regulation developments and US lawmakers' conversations. Updates on Binance and FTX as well as information from the current SEC v. Ripple lawsuit need to be taken into account.


Interest in economic signs will also be high. 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, buyers should also keep an eye on the FOMC members' daily conversations.


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