the daily degen 🦍(12oct23)
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market news
📈S&P 500 closes higher for a fourth day as traders prepare for consumer inflation data.
☁️immutable links with AWS in latest Web3 gaming push to extend options for game developers.
🌐JPMorgan debuts tokenization platform, blackrock among key clients: report.
🏘️real estate-backed stablecoin USDR de-pegs after treasury was drained of liquid assets.
😲FTX, thai prostitutes and chinese bribes: caroline ellison drops explosive allegations.
crypto fear and greed index
trooperGlossary: consumer price index (CPI) 📚
as we gear up for the release of the U.S CPI figures at 12:30 GMT, it's an opportune moment to grasp the significance of this economic indicator. the forecast number for this month is 0.3%, showing a decline from the previous month's 0.6%.
the consumer price index (CPI) is a fundamental metric that measures the average change in prices paid by consumers for goods and services over time. think of it as a barometer for the cost of living. when the CPI rises, it indicates that, on average, consumers are paying more for the same basket of goods and services, pointing to inflation. conversely, a declining CPI suggests that prices are falling, which could hint at deflation. investors, policymakers, and businesses closely monitor the CPI to make informed decisions, from setting monetary policy to adjusting wage levels.
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trade ideas
trade: short XAU/ USD
in the recent week, following the outbreak of the middle eastern conflict, gold has witnessed a notable surge.
from a significant support level at approximately ~1,810, it rebounded to a prior support-turned-resistance at roughly ~1,875. however, as it approached this mark, there seems to be a possible loss of momentum, presenting a potential opportunity to SELL gold. the trade's target is set towards the ~1,810 support level. should the price manage to surpass and sustain above this resistance and trend line, it would be wise to consider exiting the position.
#NFA #DYOR
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