Financial market tankan on the morning of the 20th | NY Dow down for 3 days in a row, wary of continuation of rate hikes

January 20 (Friday) morning market trends (compared to the previous day)

traditional finance

• NY Dow: $33,131 -0.5%
• NASDAQ: $10,884 -0.6%
• Nikkei Average: ¥26,405 -1.4%
• USD/JPY: 128.4 -0.3%
• USD Index: 102.1 -0.28%
• 10-year US Treasury yield: 3.39 +0.65%
• Gold futures: $1,934 +1.4%

crypto assets

• Bitcoin: $21,058 +1.2%
• Ethereum: $1,555 +1.8%
• FTT: $2.29 +32%

Today’s New York Dow, Nasdaq, and S&P500 continue to fall. It lost most of its gain in January.

Source: Yahoo! Finance

The number of new U.S. unemployment insurance claims announced last night (the week ending January 14) fell by 15,000 from the previous week to 190,000, the lowest level since mid-May last year. This time’s figure is lower than the previous week’s = 205,000 and the median economist’s forecast = 214,000, and the labor market is still solid despite the economic slowdown (inflation slowdown) indicated by yesterday’s PPI, so it is expected that the US Fed will continue to raise interest rates for a while. increased observation. On the other hand, weak indicators such as the US Producer Price Index (PPI) in December, which was significantly lower than expected, are seen as increasing cautiousness about the future of the US economy.

About 97% of respondents expected a rate hike of 0.25 points by the next FOMC on February 1. It is expected to slow down from the previous increase of 0.5 points.

Source: CME

Relation: Cryptocurrency market rebound, concerns over US Department of Justice also pushed down

US stocks

U.S. stocks are mixed today. Individual stocks: Big Bear ai (AI related) -3.3%, Amazon -1.7%, Microsoft -1%, Apple +0.2%, Tesla -1.1%, Meta +2.7%, Roblox -5.8%, Coinbase -1.5 %, Microstrategy +0.1%.

Online distribution giant Netflix announced its financial results after the close. The number of members increased by 7.66 million, far exceeding the expected average of 4.5 million. Sales were within expectations. Shares rose 6.4% after hours.

Relation: Recommended for cryptocurrency investors, advantageous shareholder benefits “10 selections”

USD/JPY: 128.4 -0.3%

USD/JPY is 128.4 yen, -0.3%. Concerns about the slowing US economy increased and the dollar fell. On the other hand, the yen has been bought back from the plunge on the 18th due to the expectation that the Bank of Japan will break away from the current monetary easing policy.

Source: Yahoo! Finance

Relation: Bank of Japan monetary policy meeting on the 18th, “yen depreciation, dollar strength” sharp rise due to easing

Relation: The background of the “strong dollar” that affects the virtual currency market also explains the correlation and factors of the weak yen

Cryptocurrencies: FTT soars

The cryptocurrency market as a whole has been falling since last night due to the continuing decline in the stock market, but it is turning to positive territory following the announcement of FTX.

FTX CEO John J. Ray is reportedly considering the possibility of reopening the exchange on the 19th. The virtual currency FTT is soaring due to speculative buying. With the resumption of FTX, it seems that victims, including users whose funds have been frozen, may be able to receive early repayments.

Source: Binance

Cryptocurrency/Blockchain-related Stocks (Year-on-Year Change/Year-to-Week Change)

• Coinbase Global | $49.4 (-1.5%/-1.1%)
• Marathon Digital Holdings | $7.3 (+6.2%/-4.4%)
• Robinhood Markets | $9 (-2.8%/-2.9%)

Robinhood, a stock and cryptocurrency investment app, launched its own cryptocurrency wallet “Robinhood Wallet” on the 20th. The wallet app was released to 10,000 users on a limited basis since September last year, but with this launch it is now generally available to Robinhood’s more than 1 million users.

Relation: Coinbase officially announces business review to stop virtual currency trading service in Japan

Relation: Recommended for cryptocurrency investors, advantageous shareholder benefits “10 selections”

GM Radio 2nd Archive

https://t.co/nr8dNhvmzM

— CoinPost Global (@CoinPost_Global) December 22, 2022

Special guests this time are Yat Siu, chairman of Animoka Brands, a leading Web3 (decentralized web) company, and Benjamine Charbit of Darewise Entertainment. He talks about the current challenges of Web3 games and NFTs, Darewise’s first title “Life Beyond”, and the outlook for the industry.

Relation: To hold the 2nd “GM Radio”, guests are the chairman of Web3 major Animoka Brands

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