The Kansas City Federal Reserve's annual Jackson Hole Symposium is underway, and Powell will deliver his keynote address Friday morning.
) price is headed back towards the $26,000 level Thursday, giving up nearly all of yesterday's advance alongside declines in traditional markets
BTC was changing hands at $26,042 at press time, down roughly 2.6% from its Wednesday high of $26,789. Ether , the second largest cryptocurrency by market capitalization, was trading at around $1,640 with a near 3% decline from yesterday's high., following the sudden tumble in digital asset prices last week.
Equity markets have also turned lower, led by the Nasdaq Composite's 1.3% decline. The S&P 500 is down by 0.8%. Among individual names of note, chipmaker and AI favorite Nvidia has given up most of its post-earnings gains from last night, now higher by just 1% for the session.Market observers are awaiting Federal Reserve Chair Jerome Powell's public remarks on Friday at the Kansas City Federal Reserve's annual, a high-level gathering for central bankers and economists.
"Anyone looking for an indication that the rate hiking cycle is nearing the end will likely be disappointed," John Glover, chief investment officer of digital asset lender Ledn, said in an email. "The Fed is at an interesting decision point in their rates cycle as we continue to see the economy absorbing the circa 500 bps of tightening in the past 16 months without too much negative impact on consumer and industrial spending, or on unemployment," he explained."However, households and businesses are beginning to feel the impact of higher financing costs at a time when balance sheets are not looking healthy."U.S.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bearish crypto markets fear hawkish Powell at Jackson Hole: scenarios for BitcoinFederal Reserve (Fed) Chairman Jerome Powell’s speech at the Jackson Hole Symposium on Friday has the potential to trigger volatility for Bitcoin pric
Read more »
Jackson Hole: Markets Expect a Hawkish PowellMarket Overview Analysis by Edgar Ochoa covering: United States 10-Year, 10-2 Year Treasury Yield Spread, United States 10-Year TIPS. Read Edgar Ochoa's latest article on Investing.com
Read more »
10-year Treasury yield falls as traders look ahead to Powell's Jackson Hole speechU.S. Treasury yields were higher at the long end of the curve as investors assess the outlook for interest rates ahead of the Fed’s Jackson Hole symposium.
Read more »
Jackson Hole: 3 Major Reasons Why Fed Chair Powell Will Remain Hawkish This WeekMarket Overview Analysis by Investing.com (Jesse Cohen) covering: S&P 500, iShares Core S&P 500 ETF, SPDR® S&P 500, S&P 500 Futures. Read Investing.com (Jesse Cohen)'s latest article on Investing.com
Read more »
Why this abstract concept could rattle stocks when Powell speaks at Jackson HoleInvestors and traders are looking for Federal Reserve Chairman Jerome Powell to address where he sees the neutral rate of interest during his speech on Friday.
Read more »
Jackson Hole Preview: Powell poised to keep markets on edge, three scenarios for the US Dollar'We're not in Kansas anymore' – this phrase from The Wizard of Oz reverberates across markets, which fear hawkish comments from the world's most power
Read more »