Welcome to this week's edition of Avenue Digital Investments' insights. Don't forget to download the PDF version for offline reading and detailed charts that enhance your understanding.
The highlights of this week include;
- In the global equities and fixed income, markets faced a mixed week, marked by Europe's first inflation rise in five months and a decline in U.S. growth shares, particularly tech stocks like Salesforce. Major U.S. indices ended lower, though small-caps and value stocks outperformed large-caps and growth shares.
- In the dollar market, the U.S. dollar is poised for its first monthly decline in 2024, following data showing that U.S. inflation rose as expected in April, offering little clarity on when the Federal Reserve might cut interest rates. The personal consumption expenditures (PCE) price index increased by 0.3%, maintaining the same rate as in March.
- In the crypto markets, this week, Bitcoin and Ethereum saw little movement while the meme coin market experienced significant activity. Bitcoin briefly surpassed $70,000 but dipped to $67,635, partly due to concerns over Mt. Gox moving $9 billion in BTC. Ethereum remained stable at $3,798 despite recent ETF approvals.
This week we talk about #AAVE, #MtGox, #BlackRock, #FetchAI, #SingularityNET, and #OceanProtocol announcing #ASIAlliance merger for June 13, and more.
#Bitcoin #Ethereum #DeFi #NFT #Crypto #CryptoNews #BitcoinETF #EthereumETF
This newsletter has been produced with the assistance of AI LLM software.
