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    • Oct 31, 2022
    • 1 min read

Week-43-2022 Macro Review

We report strong performance across both US Equity and Digital Asset markets last week. NASDAQ closed higher at $11.102 (⬆️2.24%) and S&P at $3.901 (⬆️3.97%) last Friday. Bitcoin (BTC) ended the week higher by ⬆️5.46%, closing above $20.000 mark on Sunday, while Ethereum (ETH) jumped by more than ⬆️15.0% to $1.590. Markets started the week subdued but mid-week brough fresh price volatility caused by several events. Inflation forecasts for October 2022 indicated lower CPI readings are coming up with no increase to the core US CPI. Moreover, the US Treasury considered supplying the market with short-term Treasury bills to combat the current shortage, indicating market specific quantitative easing (QE). Next, the UK has finally a more stable political outlook with Rishi Sunak as the new “pro-crypto” PM. Lastly, Twitter announced it plans to introduce own crypto wallet and Elon Musk has finally closed the takeover deal. All these events accompanied with few Ethereum (ETH) whales reported to be pushing the ETH price higher, took the markets off to new highs.

WEEK-43-2022-MACRO-REVIEW
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