05/01/2023
👋 Greetings, traders! We prepared news moving the markets right now:
🇺🇸The “Fed minutes” came out, strengthening the US dollar. Hopes that rates will slowly drop, at least in the 2nd half of 2023, were severely dispelled. The hawks are winning as the Fed members will not change the course of monetary policy.
The turning point here may be a return to price stability. Therefore, investors will focus on CPI and PCE inflation data.
According to forecasts by Minneapolis Fed President Neil Kashkari, the Fed should pause when the key rate reaches 5.40%.
In the coming months, 15 of 19 executives expect the rate to increase by another 75 or even 100 basis points.
🖥Amazon's CEO confirmed the company would lay off more than 18 000 workers, more than the initial 10 000 planned.
☢️BlackRock has started adding BTC to its Global Allocation Fund for passive investors, which is bullish for BTCUSD in the long term.
🏎Tesla shares have already lost more than 60% from their peak. However, according to Fundstrat Global Advisors, they still have the potential to fall below $100 by the January earnings report before stabilizing and rebounding. At the moment, specific indicators highlight the possibility of another two to three weeks of weakness.
☢️Bitcoin is trading under the resistance level of 17 100. In case of a breakout, the price might increase to 18 100.
🇺🇸US dollar index is rounding above the 103.60 critical support level ahead of the Friday's NFP report.