Koba Finance Profile picture
Jul 18 9 tweets 5 min read
(1/9) 🧵👇Market Wrap #3: 📰 Market Recap 📰

1. EUR dips below Dollar parity for the first time in 20 years

> Ukraine Russia war caused an energy crisis in EU. ECB is trying to curb inflation and cushion a slowing economy where it aims to raise borrowing costs.

> he US #Fed is raising interest rates at an accelerated rate, causing yields on US #Treasury Bonds to surge higher than EU’s debt — driving investors to the dollar and away from euros.

> Weaker currencies used to be welcomed as a means to stimulate economic growth. This is now undesirable due to inflation, making imports expensive. EU #CPI jumped to 8.6% in just a year.

> On a broader level, the #EUR weakness against the #USD helps EU exporters as it makes their products more $ competitive and boosts earnings.

> US account for more than 40% of sales for 70 EU MNCs, including Sanofi and Aegon NV. It also ⬇️ $ cost of tourist going to EU

2. The highest US #inflation in 40 years at 9.1%

> The previous #CPI forecast was 8.8%, and the previous quarter’s forecast was at 8.6%.
> Core prices increased by 5.9% in June from 2021.

> The Feds raised its interest rates to temper demand in hopes of curbing #inflation. #CPI is believed to have reached its peak and slower inflation increases can be expected over the longer run compared to recent months.

3. #Celsius’s Chapter 11 bankruptcy

The #crypto lending platform’s business model became untenable as crypto prices collapsed. They are currently reorganising and restructuring the company. However, only certain customers are allowed withdrawals, on a first to act basis.

4. 🇷🇺 #Russia banned all forms of crypto as a form of payment — #Ruble is the only accepted monetary unit

> #Putin signed a law forbidding the use of #cryptocurrencies or digital assets as forms of payment for goods and services locally.

> The law is expected to be implemented by holding crypto exchanges and businesses liable for infractions. > However, #Russian central bank is considering accepting the use of #crypto for international payments.

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More from @KobaFinance

Jul 18
(1/4) 🧵👇Market Wrap #3: 📈📉Economic Summary/Market Stats (7d Market Update)


❇️ BTC: +3.75%% to $21,201
❇️ ETH: +18.21% to $1,350
❇️ SOL: +12.41% to $39.49
❇️ Overall Crypto Market Cap: +1.43% to $1.012T
🥴​ Bitcoin Fear & Greed Index: Extreme Fear (24/100)
(2/4) Equities

🔻 S&P 500: -0.46%
❇️ DJ Industrial Average: +0.03%
🔻 Nasdaq 100: -1.17%
🔻 Hang Seng Index: -1.61%
❇️ Stoxx Europe 50: +0.12%
(3/4) Rates

💸 USDC Supply APY: 0.44%
💸 ETH Supply APY: 0.81%
💸 BTC Supply APY: 0.02%
💲3-Month US Dollar Libor: 2.74%
💲US Treasuries 2-Year: 3.124%
💲US Treasuries 10-Year: 2.919%
Read 4 tweets
Jul 18
(1/7) 🧵👇Market Wrap #3: Chart of the Week 📊

The sentiment shift has started to show under the hood in #crypto options derivatives market as #BTC's 25Δ skew has largely narrowed down in the past few days, indicating more optimism (a major shift compared to a few weeks ago!).

Open interest metrics are also indicating the same sentiment over the weekend, with P/C OI dipping to 0.62 despite the gradual demand for downside puts the week prior.

🎤 Shoutout to @laevitas1 for the charts and graphs

Comparing it against total volume, put volumes have indeed shallowed and P/C volume ratio has declined sharply to 0.79, painting the same less-bearish narrative. 📈
Read 7 tweets
Jul 18
(1/4) 🧵👇Market Wrap #3: 75 is the New Hundred

After the June FOMC meeting, Chair #Powell acknowledged tt the Fed's decision to hike 75bps had been influenced by firming of #inflation expectation measures, including ⬆️ in the Fed staff's index of CIE.


Following the recent jump in June's CPI print at 9.1% versus the 8.8% expectation, the market has started to price in a 100bps hike this month. However, since the June #FOMC meeting, inflation expectations have notably softened.

5-10 year #inflation expectations were revised down by 0.2pp in the final June UMich report, and market-based measures of inflation expectations have materially declined.
Read 4 tweets

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