Cryptocurrency
The US Federal Reserve (Fed) New York Branch published the results of the Consumer Expectations Survey for January. According to the results of the survey conducted with the participation of approximately 1300 households, the short-term median inflation expectation covering the next 12 months remained unchanged at 3 percent in January. Thus, short-term inflation expectation continued to remain at its lowest level since January 2021. The median inflation expectation covering the next 3-year period decreased from 2.6 percent to 2.4 percent in the same period, reaching its lowest level since March 2020. The median inflation expectation covering the 5-year period remained constant at 2.5 percent.
The US federal government’s budget deficit decreased by 43 percent in January compared to the same month last year, falling to 22 billion dollars.
Atlanta Fed President said interest rate cuts probably won’t happen until the summer.
Although a more optimistic picture of inflation is expected this year, the possibility of another interest rate increase after a short easing cycle is not over, according to Citigroup strategists.
Bank of England (BoE) Governor Andrew Bailey stated that the total reserves held by British banks in the central bank increased to 467 billion pounds.
Oil remains flat ahead of OPEC’s market outlook and as investors monitor developments in the Israel-Hamas war.
Asia-Pacific markets were mostly higher as more markets, including South Korea and Singapore, returned to trading from the Lunar New Year holiday.
The price of the cryptocurrency Bitcoin is trading above $50,000 for the first time since December 2021, as interest in spot Bitcoin exchange-traded funds (ETFs) continues.
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