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NATO Secretary General Rutte: "very satisfied" with US President Trumps threat of sanctions against Russia.January 23, traders are betting heavily that the European Central Bank will cut interest rates by at least half a percentage point before the middle of this year. Data shows that these bets are mainly concentrated on options related to the three-month European Interbank Offered Rate (Euribor) that will expire in June, and have accumulated rapidly since the beginning of the year. Data shows that if policymakers reduce the deposit rate by 125 basis points in the next four policy meetings, it means a 50 basis point cut at one of the meetings, and investors will receive a return of more than 11 million euros (11.46 million U.S. dollars), which is 25 times the initial investment. Data shows that if policymakers reduce the deposit rate by 125 basis points in the next four policy meetings, one of the bets will pay more than 11 million euros (11.46 million U.S. dollars), which is 25 times the initial expenditure. Such an outcome would mean a 50 basis point cut at one of the meetings, which was expected just last month. At the World Economic Forum in Davos, Switzerland, this week, ECB policymakers said they intend to cut rates further as inflation remains on track to hit 2% this year, with the potential for 25 basis point cuts at each meeting. Markets are pricing in a rate cut of that magnitude on Jan. 30, based on swaps tied to policy meeting dates.German Defense Minister Pistorius: The two German Patriot units deployed to Poland will be fully combat-capable on Monday and will be stationed in Poland for six months.German Defense Minister Pistorius: Germany will deploy European fighter jets to Poland in the summer to support air security.On January 23, TAL Education Group (TAL.N) announced its third-quarter report ending November 2024. Net revenue in the third quarter was US$606.4 million, a year-on-year increase of 62.4%; adjusted earnings per ADS in the third quarter was US$0.060, compared with US$0.00 in the same period last year, and an estimated US$0.04; net profit in the third quarter was US$23.1 million, compared with a net loss of US$23.9 million in the same period last year.

Crypto Market Daily Highlights: XRP Led a Choppy Top Ten Session

Jimmy Khan

Feb 23, 2023 16:01

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It was a mixed session for the crypto top ten on Wednesday. XRP led the way, with BNB, DOGE, and MATIC bucking the bearish trend. The mixed session left BTC short of the $25,000 handle for the second time in seven sessions.


On Wednesday, the heavily anticipated FOMC meeting minutes drew plenty of interest. Less hawkish than expected, the broader crypto market cap responded to the minutes with a late partial recovery.


There were no surprises, with the minutes noting that inflation remained well above the Fed target and that labor market conditions are still very tight, contributing to the upward trend in wages and prices.


However, the markets were mindful of the shift in sentiment toward the US economy, labor market conditions, and inflation since the last FOMC meeting. The US unemployment rate fell to 3.4%, spending rebounded, service sector activity surged, and inflation remained sticky, questioning Fed Chair Powell’s disinflation view.


Mixed sentiment toward the minutes left the Dow and the S&P 500 with losses of 0.26% and 0.16%, respectively, while the NASDAQ Composite rose by 0.13%.


It was also a busier session on the crypto news wires. New York Attorney General filed charges against CoinEx for failing to register as a securities and commodities broker-dealer. NFTs were in the spotlight, with a Federal Judge ruling that NBA Top Shot NFTs could be unregistered securities.

The Day Ahead

In the afternoon session, US economic indicators and the NASDAQ Index will likely provide direction. Initial jobless claims and Q4 GDP numbers will be in the spotlight. An unexpected fall in jobless claims and a hotter-than-expected US economy could fuel Fed Fear.


Investors should also monitor Fed chatter. FOMC member Bostic speaks today. Following the FOMC meeting minutes, investors may need more up-to-date guidance on where the Fed stands vis-à-vis inflation, the economic outlook, and interest rates.


However, the crypto news wires also need tracking for events that could move the dial. Binance will remain a focal point, with FTX, Genesis, and Silvergate Bank updates needing consideration. However, regulatory activity and US lawmaker chatter will remain the key drivers.


The NASDAQ mini was up 69.5 points this morning, supporting the crypto market in the final hour.


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