Cryptocurrency-related stocks such as Coinbase overall rise U.S. retail sales in January exceeded expectations | 16th Financial Tankan


2/16 (Thursday) morning market trends (compared to the previous day)

crypto assets

    • Bitcoin: $24,107 +8.2%
    • Ethereum: $1,668 +7.3%

traditional finance

  • NY Dow: $34,128 +0.1%
  • Nasdaq: $12,070 +0.9%
  • Nikkei Stock Average: ¥27,501 -0.3%
  • USD/JPY: 134.1 +0.7%
  • US dollar index: 103.8 +0.5%
  • 10-year US Treasury yield: 3.79 +1.1%
  • Gold Futures: $1,847.6 -0.9%

Today’s New York Dow was a sell-first, but eventually turned into positive territory. The Nasdaq continued to rise. The US retail sales figures for January, announced on the 15th, showed strong consumer demand, which was seen as a negative factor.

U.S. retail sales rose 3% in January, beating economists’ expectations of 2%, the biggest increase in two years. All 13 categories, including cars, furniture and restaurants, were positive, suggesting continued spending on goods and services despite rising borrowing costs and persistently high inflation. Following the previous day’s CPI, there are concerns that the policy interest rate will be raised to a higher level than expected in response to strong economic indicators.

connection: US CPI continues to slow, Nasdaq continues to rise, dollar soars

On the other hand, it is said that it takes several months for the CPI data and other lagging indicators to reflect actual economic trends. ing.

The January Producer Price Index (PPI) is due out tonight. Compared to the previous month, the previous month was -0.5%, and the forecast is +0.4%.

Key economic data dates for February

  • 16th 22:30 (Thursday): US January Producer Price Index
  • 23rd 22:30 (Thursday): U.S. October-December Quarterly GDP Personal Consumption and Core PCE Revised Values
  • 24th 22:30 (Friday): US January Personal Consumption Expenditure (PCE deflator)
  • 24th 24:00 (Friday): University of Michigan Consumer Confidence Index February Confirmed value

connection: What is the CPI (Consumer Price Index) that attracts attention in the virtual currency market?

US stocks

Upstart (AI loan) +28%, NVIDIA -0.9%, +9.4%, Big +2.4%, Tesla +2.3%, Microsoft -0.8%, Alphabet +2.3% compared to the previous day for individual stocks , Amazon +1.4%, Apple +1.3%, Meta -1.2%, Coinbase +17%, Silvergate Capital +28.6%.

connection: Recommended for cryptocurrency investors, advantageous shareholder benefits “10 selections”

Virtual currency overall high

Virtual currencies such as Bitcoin continue to grow. BTC hits new year high to $24,308. AI stocks, Arbitrum ecosystem stocks, and Blur, which just went public yesterday, are also soaring.

connection: CPI passed without any surprises, bitcoin recovered to the $22,000 level

Source: Binance

connection: Stock investment recommended for virtual currency investors, representative virtual currency stocks of Japan and the United States “10 selections”

Dollar/yen continues to rise

US dollar = 134.1 yen, up 0.7% from the previous day. The dollar hit a 6-week high against the yen, and the dollar index also returned to a 6-week high. Day after day of strong US economic data seems to justify continued interest rate hikes to curb inflation.

Source: Yahoo! Finance

connection: The background of the “strong dollar” that affects the virtual currency market also explains the correlation and factors of the weak yen

GM radio tonight

connection: “GM Radio” Ethereum L2 developer Scroll will participate next time

The 6th GM Radio will be held from 12:30 this Thursday. Sandy Peng, co-founder of zk rollup development company “Scroll”, will be invited as a guest to ask questions about competition between L2 and future plans under the theme of “ZK competition in EVM equivalence”. .

GM radio last week

The 5th GM Radio was held last Thursday. Guest speaker Rahul Sethuram, co-founder of Connext, talked about US VC-related trends, the public launch of Connext, the benefits of xApps, and future plans.

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