{"id":1429,"date":"2021-06-22T09:35:42","date_gmt":"2021-06-22T12:35:42","guid":{"rendered":"https:\/\/wintrademarkets.com\/news\/?p=1429"},"modified":"2021-06-22T09:35:44","modified_gmt":"2021-06-22T12:35:44","slug":"powell-testifies-russia-wants-to-open-the-taps-and-cross-a-deadly-bitcoin","status":"publish","type":"post","link":"https:\/\/wintrademarkets.com\/new\/2021\/06\/22\/powell-testifies-russia-wants-to-open-the-taps-and-cross-a-deadly-bitcoin\/","title":{"rendered":"Powell testifies, Russia wants to open the taps and cross a deadly Bitcoin."},"content":{"rendered":"\n

Wyllian Capucci 06\/21\/2021<\/em><\/p>\n\n\n\n

Transitional<\/strong><\/p>\n\n\n\n

Written comments by Federal Reserve Chairman Jerome Powell preparedfor today’s presentation before the House Subcommittee on the crisis of thecoronaviruses, show that it maintains the position that the rise in inflation is transitory.Investors will be watching from 3:00 pm, Bras\u00edlia time, while thePowell’s answers to lawmakers’ questions may shed more light on hisinsight into the pace of economic recovery.\u00a0Appearance occurs afterFed regional presidents yesterday expressed mixed views on when thecentral bank should start talking about reducing asset purchases<\/p>\n\n\n\n

Pump<\/strong><\/p>\n\n\n\n

Brent crude, the international oil benchmark, traded above $75the barrel for the first time in two years this morning.\u00a0The increase in prices is dueto traders’ expectations of tighter supply in the coming quarters.\u00a0USUS, the spread between the third and fourth month of West Texas futures contractsIntermediate hit the highest in seven years.\u00a0Russia, however, is consideringpropose that OPEC and its allies increase production at the next meeting on 1st ofJuly, with the global oil market currently estimated at a deficit of 3million barrels a day.\u00a0This news was enough to cap today’s high, withBrent falling to $74.40 and WTI falling to $73.08 a barrel.<\/p>\n\n\n\n

Technical signal<\/strong><\/p>\n\n\n\n

The average price of Bitcoin in the last 50 days has fallen below its average price in thelast 200 days – a movement called the “cross of death” by graffiti artists andanalysts.\u00a0Although the original cryptocurrency formed the pattern before and ifstrongly recovered, there is concern that the currency will fall below $30,000, and this move is expected to trigger more sales.\u00a0Bitcoin dropped 4.3%overnight and was trading at $31,550 at 6:50 am EDT.USA.<\/p>\n\n\n\n

Mixed markets<\/strong><\/p>\n\n\n\n

Global actions are quiet ahead of Powell’s testimony.\u00a0Overnight, theMSCI Asia Pacific Index gained 0.8%, while Japan’s Topix index closed 3.2%on the rise, with the indicator showing its largest increase in a year after theMonday clearance.\u00a0In Europe, the Stoxx 600 Index was 0.2% lower at6:50 am\u00a0The S&P 500 futures pointed to a small movement for thered at the opening, the 10-year treasury yield was 1.478% and goldplummeted<\/p>\n\n\n\n

Coming<\/strong><\/p>\n\n\n\n

US Existing Home Sales Data for May and June Richmond FedManufacturing is at 11am.\u00a0New York City holds primary elections forMayor.\u00a0Cleveland Fed Chair Loretta Mester and Cleveland Fed ChairSan Francisco, Mary Daly, speaks at separate events prior to the testimony ofPowell to Congress start at 3pm<\/p>\n\n\n\n

Source:https:\/\/wintrademarkets.com\/<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Wyllian Capucci 06\/21\/2021 Transitional Written comments by Federal Reserve Chairman Jerome Powell preparedfor today’s presentation before the House Subcommittee on the crisis of thecoronaviruses, show that it maintains the position that the rise in inflation is transitory.Investors will be watching from 3:00 pm, Bras\u00edlia time, while thePowell’s answers to lawmakers’ questions may shed more light […]<\/p>\n","protected":false},"author":2,"featured_media":836,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-1429","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-hft"},"_links":{"self":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts\/1429","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/comments?post=1429"}],"version-history":[{"count":1,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts\/1429\/revisions"}],"predecessor-version":[{"id":1430,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts\/1429\/revisions\/1430"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/media\/836"}],"wp:attachment":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/media?parent=1429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/categories?post=1429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/tags?post=1429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}