The week 50-2022 was an eventful week that pushed prices lower for both US equities and digital asset markets. The NASDAQ index closed lower by (NASDAQ⬇️2.7%) at $10.705 and S&P 500 lower by (S&P500⬇️2.1%) at $3.852. Ethereum closed lower by (ETH⬇️6.0%) at $1.185, and Bitcoin ended the week lower by (BTC⬇️2.0%), closing at $16.758.
As expected, the consumer inflation continued cooling in November 2022 – it stood at 7.1% p.a., with core CPI at 6.0% p.a. (see chart below) that was lower than expected by top economists, who predicte
d that inflation slowed to 7.3% year-on-year with core CPI to 6.1%, down from 7.7% and 6.3% in October, respectively. As a result of the cooling inflation, risky assets such as stocks and digital assets went strongly up in price in the first half of the week.