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Sunday, February 5, 2023

Cedears of tech companies and cryptocurrency exchanges soar up to 9%

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Wall Street’s main indexes started lower as Goldman Sachs missed quarterly earnings estimates, worsening sentiment already dampened by fears of a slowdown in Chinese economic growth. But in the afternoon the S&P 500 and the Nasdaq reversed trend.

The rise in exchanges comes hand in hand with the strong rise in Bitcoin. The BTC touches its highest level in 4 months and drives the rest of the cryptocurrencies up.

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The world’s largest cryptocurrency reached $21,594, a level not seen since September 13. The last price was US$21,174. This virtual asset has gained almost 30% this year, driven in part by optimism that inflation has peaked, potentially reducing the need for tighter central bank policy.

Another central point that causes the increases in the Cedears is that financial dollar extends this day its upward trend.

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The dollar “counted with liquid” (CCL) climbs $2.87 (+0.8%) and operates at $359.42, with which the gap with the official exchange rate reaches to 96.98, his highest level of the year. At the beginning of the day, the so-called “cable” dollar touched the unpublished $363.55exceeding the nominal maximum of last July ($360).

Source: Ambito

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