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Price analysis 1/9: SPX, DXY, BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, LTC

Published 01/09/2023, 02:28 PM
Updated 01/09/2023, 05:40 PM
© Reuters

Investors across asset classes have been keeping a close watch on the United States Federal Reserve’s monetary policy because that sets the stage for a risk-on or a risk-off environment.

The strong rally in the U.S. stock markets on Jan. 6 and in cryptocurrencies over the weekend suggests that market observers anticipate the Fed to slow down its frantic pace of rate hikes. The optimism was fuelled by the greater-than-expected slowdown in wage gains in the December jobs report and the first contraction in U.S. services industry activity since May 2020. The next trigger that may influence the markets could be the Consumer Price Index data due on Jan. 12.

Daily cryptocurrency market performance. Source: Coin360
SPX daily chart. Source: TradingView
DXY daily chart. Source: TradingView
BTC/USDT daily chart. Source: TradingView
ETH/USDT daily chart. Source: TradingView
BNB/USDT daily chart. Source: TradingView
XRP/USDT daily chart. Source: TradingView
DOGE/USDT daily chart. Source: TradingView
ADA/USDT daily chart. Source: TradingView
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MATIC/USDT daily chart. Source: TradingView
LTC/USDT daily chart. Source: TradingView

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