Good days are ahead? ✍️
Good evening to all my friends. I hope you all are doing well. I am having a fantastic day. Let's talk about crypto market. Bitcoin is trading above 84k while eth is trading below 2k. Friends, in the US, we're seeing a decline in consumer goods, reflected in wholesale inflation, PPI, and CPI data. Jobless claims are also down, meaning fewer people are filing for unemployment benefits, which could indicate a healthier job market. Although the real-time impact may not be immediate, the macro situation suggests a potential recession, as many expect it. If inflation rises or jobless claims increase, the market could become concerned. Positive data recently, such as $1.3 trillion invested in the stock market, suggests that a positive market reaction could come over time.
The decline in consumer goods and food prices is due to falling commodity prices, especially oil and natural gas. As tensions between Russia and Ukraine ease, natural gas prices are decreasing, which could positively impact global markets. Overall, while inflation remains a concern, the government may manipulate data to avoid officially declaring a recession. We’ll have to wait for upcoming data and Fed meetings for more clarity. That's it for today. Thanks & have a good day!!