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Japans preliminary composite PMI for January was 51.1, compared with 50.5 in the previous month.Japans preliminary manufacturing PMI for January was 48.8, compared with 49.6 in the previous month.Japans preliminary services PMI for January was 52.7, compared with 50.9 in the previous month.South Koreas SK Group is in discussions to supply electric vehicle batteries to Nissans U.S. plants, but no decision has been reached, documents show.January 24th, British consumer confidence fell sharply in January, falling to the lowest level in more than a year, as soaring government borrowing costs and layoff warnings hit economic confidence. The latest data showed that GfKs consumer confidence index fell 5 points to -22, the lowest level since the end of 2023. Consumer confidence is a forward-looking indicator of household spending-a more pessimistic sentiment means that people are more inclined to save rather than make large purchases. Although wage growth has exceeded the inflation rate throughout 2024, households have accumulated a lot of savings last year, limiting the recovery of spending. Neil Bellamy, director of consumer insights at NIQ GfK, pointed out that peoples confidence in the overall UK economy has fallen particularly sharply. He said: "These data highlight that consumers are losing confidence in the prospects of the UK economy."

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

Skylar Shaw

Feb 21, 2023 15:21

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The top ten cryptocurrency index had a mixed day on Monday. As MATIC defied the positive trend, XRP was in the lead. BTC failed to maintain control of the $25,000 handle after returning to it for the fourth time in five sessions.


There were no crypto-related events that may have given the overall crypto market direction. BTC reversed early losses with a rebound to $25,000, providing support for the cryptocurrency market.


The SEC and US politicians remained mute on Monday because American markets were closed in observance of George Washington's birthday. Fed, though, Due to persistent fear and regulatory uncertainty, the cryptocurrency market fell short of $1,100 billion for the day.


Investors have no American economic indications to take into account either. Recent US economic data and Fed talk point in favor of a more aggressive interest rate trajectory to achieve goal inflation. The economic statistics have, however, also allayed the immediate concern of a recession, which is optimistic for the cryptocurrency market.

The Coming Day

Investors should keep an eye on the cryptocurrency news wires for anything that might shift the market. With updates from FTX, Genesis, and Silvergate Bank, Binance news will continue to be of interest.


The NASDAQ Composite Index and US economic data will have an impact on the afternoon session.


Focus will be on the preliminary February PMIs for the private sector. We anticipate that the PMI and its sub-components will have a greater impact. The hawkish stance on Fed monetary policy would be supported by an increase in production and input prices as well as a quicker rate of hiring.


This morning's decline of 23.25 points on the NASDAQ mini indicated a gloomy start to the American session. Regulatory action and congressional chitchat, however, will continue to be the major drivers.

The cryptocurrency market recovers after a quiet Monday session.


The Monday session was rocky. The crypto market cap saw a negative start to the day, falling to an early low of $1,045 billion before regaining support in the late morning. The market capitalization of cryptocurrencies surged to a late afternoon high of $1,098 billion before declining.


Despite a late decline, the cryptocurrency market cap closed at $1,083 billion, up $19.29 billion from the previous day.


The cryptocurrency market is on track to post a second straight monthly increase after last week's advances. The market capitalization of cryptocurrencies is presently at $79 billion despite the heightened regulatory scrutiny. The cryptocurrency market value increased by $248.52 billion in January.


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