COINOTAG news reports that after a streak of five days in the red, the US stock market saw a distinct rebound on January 6. There was a wave of buying interest in the major indexes, including the S&P 500, the Dow, and the Nasdaq, closing near their daily levels, despite ending on the lower week in general. In particular, the S&P 500 went down 0.48%and the Dow and Nasdaq fell 0.60% and 0.51%respectively. At the same time, the crypto sector has reacted well to the beginning of the year, with Bitcoin correction almost 15% before rebound strongly, currently trading around $99,000. His strong recovery and potential challenge to the $100,000 threshold indicating strong optimism in the market. By the way, Ethereum has risen above 18% since it was low on December 20, reaching $3,668. The move up recently in different altcoins also supports this bullish trend.
In commodity markets, the US dollar index withdrawn by 0.4%moving away from a two-year peak as weekly gains declined 0.7%. The Euro and the Pound were weakened by more than 1% against the dollar this week. Global optimism oil demand prices have risen higher for five consecutive days, with Brent crude climbing around it 3% and WTI rises almost 5% over the past week. Despite a pullback due to the strengthening dollar, gold spot still posted a 1% weekly benefit. Market participants now focus on December FOMC meeting minutes and a set of nonfarm payrolls data to be released on Friday. Insights from these minutes could clarify the views of Federal Reserve officials on the US economic path and associated growth risks.
Additionally, eeee.com, a versatile financial trading platform, has recently launched USDT stable product offering an annual rate of return of 5.5%presents a viable hedging option for investors. Because volatility continues in both crypto and traditional markets, it is essential for investors to be alert to potential risks and adopt prudent asset allocation strategies.
