Previous Trading Days Events 03 Jan 2024

Bitcoin fell rapidly around 1300 yesterday, a total of nearly 4800 USD, before eventually retracing. Markus Thielen, Matrixport analyst said that the Securities and Exchange Commission will likely reject all bitcoin spot ETF proposals this month.

Source httpswww.theblock.copost270125secwillrejectallbitcoinspotetfsinjanuarysaysmatrixportanalyst

According to the JOLTS report, U.S. job openings fell to nearly a threeyear low in November, further evidence of labour market cooling. This measure of labour demand was down 62K to 8.790 million.

Financial markets are now betting that the U.S. central bank will begin cutting rates as early as March as it potentially reached its rate policy peak.

The Fed is likely in a sweet spot as they prepare markets for an upcoming cut in rates, said Jeffrey Roach, chief economist at LPL Financial in Charlotte, North Carolina.

Anyone still looking for signs of a recession wont find it in this report, said Layla OKane, a senior economist at Lightcast. The Fed has succeeded in managing to curb inflation without blowing up the labour market. Im expecting that to continue in 2024.

FOMC Minutes of that meeting released yesterday showed that policymakers appeared increasingly convinced that inflation was coming under control, with diminished upside risks and growing concern about the damage that overly restrictive monetary policy might do to the economy.

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