CPI data on August 14, Democratic Party convention on August 22, and Fed rate decision on September 19 will impact the market. While U.S. stocks rise, crypto market remains cold. Watch market movements around CPI and Democratic convention, and the Fed's rate decision.
- 0 replies
- 0 recasts
- 0 reactions
Yesterday, there were favorable news in the market, such as Japan's decision not to raise interest rates. The biggest bearish news yesterday was the disproval of Plustoken. Therefore, I am not surprised by the market's rise today, and the same goes for the US stock market, as the so-called transaction recession has been forgotten by the market. According to today's BTC chain data, the situation of over 100,000 turnovers in 24 hours has been significantly alleviated, with investors tending to be rational. ETF data also shows that the sharp decline did not trigger investors to sell. Many investors are becoming active again. A simple indication is the rise in US bond yields, prompting investors to shift to risky markets. From a macro perspective, market rationality is manifested by the rebound of the US dollar against both the euro and the yen.
- 0 replies
- 0 recasts
- 0 reactions
According to the US definition, an economic recession requires unemployment rate exceeding 5% and two consecutive quarters of GDP decline. While globally, two quarters of GDP decline is the main criterion, the US additionally considers unemployment rate. In the second quarter, US GDP rose, indicating no recession.
- 0 replies
- 0 recasts
- 0 reactions