top of page

Week-02-2023 Macro Review

Last week saw a strong outperformance of Cryptocurrencies over the major US Equity markets. The NASDAQ index closed higher by (NASDAQ⬆️4.8%) at $11.079 and S&P 500 higher by (S&P500⬆️2.7%) at $3.999, while The Ethereum cryptocurrency closed the week more than (ETH⬆️20%), closing at 1.552 USDT on Sunday. Bitcoin pathed a similar way as Ether and ended the week at 20.881 USDT, higher by more than (BTC⬆️20%). The rally in both markets came because of a confirmed drop in US inflation for December 2022, dropping to 6.5%, with core US CPI dropping to 5.7% (see chart below).


The US consumer inflation continued cooling in December 2022 and the reading came exactly as top economists expected. It dropped from 7.1% p.a. and 6.0%, respectively, from the previous month. Regardless of the lower US CPI, the Fed is expected to raise fund rates again in early February. However, the market is now pricing a lower hike of 0.25% instead of 0.50%. We forecast the YoY US CPI for January 2023 dropped further to 6.3%, with core CPI dropping only slightly to 5.6%.

WEEK-02-2023-MACRO-REVIEW
.pdf
Download PDF • 603KB













0 views0 comments

Recent Posts

See All

Welcome to 2023. The first week of 2023 ended up stronger with both US Equities and Digital Assets edging higher by almost 2.0% compared to a week ago. The NASDAQ index closed the first week higher by

US Equities closed the week unchanged while the Digital Asset market corrected slightly. The NASDAQ index closed the week lower by only (NASDAQ⬇️0.3%) at $10.466 and S&P 500 lower by (S&P500⬇️0.2%) at

It was a slow and easy week before Christmas. The NASDAQ index closed lower by (NASDAQ⬇️1.9%) at $10.498 and S&P 500 lower by (S&P500⬇️0.2%) at $3.845. Digital Asset market had outperformed the US equ

bottom of page