Looming political tension again

News for today, Monday, January 24

After a volatile week, the market has frozen in wait for the Federal Reserve’s meeting again. One more Jerome Powell’s press conference and monetary policy updates will undoubtedly cause some more turmoil after Tuesday. However, until then… DOW J has lost 1,30%, NYSE composite index has decreased by 1.60%, and NDAQ is 1.69% down.

At the same time, the US dollar doesn’t seem to react in a depressive manner. Dollar index futures has gained 0,15%. Traders tend to lament on Russia-Ukraine border tension along with Fed’s new hawkish announcements.

Bitcoin shows signs of dependence on the stock market. A tech-heavy Nasdaq, showing the worst since 2020 dynamics, drags the largest cryptocurrency along. BTC has almost halved after reaching a $69,000 top in November. The sell-off has affected the most digital players and the largest cryptocurrency either.

The price of Brent crude is $87.60, WTI — $85.65, GBP/USD — 1.3551, EUR/USD — 1.1327, and gold costs $1841.00 per ounce.

Author: GC
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