Cryptocurrency decreases amid the continuing problems with FTX
On Friday, cryptocurrency prices dropped, although other volatile assets became more expensive despite the inflation in the USA. This is a domino effect provoked by the fall of FXT.
According to the head of trading at digital-asset exchange Independent Reserve in Sydney John Toro, currently, many risks are related to other cryptocurrencies, and it takes a long time to overcome them. They appeared after the FTX-Alameda crash. Meantime the market is highly vulnerable.
There is information that the founder of FTX Sam Bankman-Fried is being investigated by the US Securities and Exchange Commission, and crypto lender BlockFi removed the opportunity to withdraw cash because of unrest.
Probably, such uncertainty will last for a long time in the cryptocurrency market.
The issue of inflation is currently of less importance in the foreign exchange market. Thus, according to economists at Commerzbank, dollar bears will not suffer losses even on the release of optimistic nonfarm payrolls.
Yesterday at 12:16 PMObviously there has been a structural shift in the markets toward a bearish dollar position. According to economists at Internationale Nederlanden Groep (ING), current U.S. nonfarm payrolls data may not cause an inversion of this trend.
Yesterday at 12:10 PMEuropean Central Bank President Christine Lagarde stated that inflation expectations should not change. People should be confident that price growth will return to the target level.
Yesterday at 11:56 AMCentral banks have recently been stepping up measures to combat global inflation. Investors, meanwhile, are actively discussing the continuation of high price levels amid limited supply.
Yesterday at 11:30 AMThe focus is on the OPEC+ meeting and the entry into force of bans related to the import of Russian oil.
Yesterday at 12:59 PM