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Week-40-2022 Macro Review

Updated: Oct 18, 2022

Week 40 was a volatile for both digital assets and US Equity markets. Bitcoin ended the week up by more than 2%, closing at 19.446 on Sunday, below the psychological 20k mark. ETH finished also up by more than 3.5%. US Equities went up, with NASDAQ closing at 10.652 and S&P closing at 3.639 last Friday. In the first half of the week, both markets started strong, regaining most of the value lost the week before, however, the end of the week brought fresh declines as the US labour market report pointed to persistently strong jobs growth and somehow deflated investors’ hopes that the FED would soon pivot and ease the pace of its interest rate rises. The report showed US employers added 263,000 new jobs in September, down from 315,000 in August but above

economists’ expectations. The report also showed that the unemployment rate unexpectedly dropped to 3.5%, from 3.7% a month earlier.

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