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Week-39-2022 Macro Review

A mixed week for both crypto and equities. Bitcoin ended the week up by almost 2%, closing at 19.044 on Sunday. ETH finished the week bit lower by roughly 1.4%. US Equities dropped in the range from 1 to 3%, with NASDAQ closing at 10.575 and S&P closing at 3.584 last Friday. Both markets continue to underperform because of the outcome of the last FED’s monetary meeting, held on Wednesday 21st September 2022. Moreover, last Friday, Europe inflation hit record 10% as energy prices continue to soar. Russia’s squeezing of gas supplies to Europe sent energy prices surging and forced governments in the EU to intervene by spending billions of euros to shield consumers and businesses from the fallout. The hot inflation reading reaffirms ECB to step up rate increases on its next monetary meeting later in October.

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