Market Wrap: Shares, old coins increase despite interest increases and Ukraine conflict
Market Wrap: Shares, old coins increase despite interest increases and Ukraine conflict
- The investors may expect a largely reserved attitude of the FED after their first interest increase, which will drive up the markets
- Bitcoin remained unchanged, while large old coins like Ether Sol and others have a jump of about 2 % or more.
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Fed boss Jerome Powell is expected to speak on Wednesday after the Fed has announced its next interest step.
It is expected that the Fed will raise interest rates by a quarter percent since 2018. At the beginning of this month, Powell said before the congress and said: "I am inclined to suggest and support an rate increase by 25 basis points."
The central bank is "ready to proceed more aggressively by raising the Federal Funds Rate by more than 25 basis points," he added with a view to the rapidly increasing inflation.
But the persistent situation in Ukraine and its effects on the market could cause the Fed to deal with interest less aggressively to avoid a recession. Investors may expect that the Fed will remain largely reserved after its first rate increase, which could explain the increase in shares on Tuesday.
All important US indices rose on this day, with the S&P 500 rising by 2.14 % and the Nasdaq and Dow by 3.16 % or 1.82 %.
Bitcoin has slowly consolidated and formed higher lows in recent weeks - but also lower highs. The most popular crypto asset will probably expect a great increase in both directions. Bitcoin ended the stock trading on Tuesday with a minus of 0.39 %, while Ether rose by 1.96 %.
The Graph, an indexing protocol for querying Ethereum and other networks, was the biggest winner of the day among the top 100 coins according to market capitalization with a pop of 18.34 %.
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story: Consensys plans to redesign Metamask and hiring 600 new employees
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story: Binance.
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- different states require different licenses from different supervisory authorities, which makes approval a lengthy process, said Binance.Us
Story: El Salvador's "Volcano Bond" could start this week
- The so-called "volcanic bonds" would be the first Bitcoin-supported bonds that are issued by a country
- The International Monetary Fund has asked El Salvador to abolish Bitcoin as a legal means of payment, and referred to volatility and the additional risk for the citizens of the state
go forward
Investors should be faced with the announcement of the interest increase on Wednesday and the speech by Fed chairman Powell, which will probably move the markets. The developing situation in Ukraine and its geopolitical effects will continue to burden the markets and lead to further uncertainty and volatility.
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The Post Market Wrap: Shares, Altcoins increase despite interest increases and Ukraine conflict is not a financial advice.