Markets are mostly consolidating quietly ahead of tonight’s FOMC release which is expected to include a 0.50% rate hike.
Commodity markets mostly fell yesterday, while stock markets were mixed.For the sixth week, Bitcoin and cryptocurrencies in general look depressed, although the falls are not dramatic. Volatility in the crypto sector has declined considerably over recent weeks.Yesterday’s New Zealand unemployment data came in exactly as expected, showing an unemployment rate of 3.2%.It is a public holiday in Japan today.Daily new coronavirus cases globally fell last week for the sixth consecutive week.It is estimated that 65.5% of the world’s population has received at least one dose of a coronavirus vaccination, while approximately 6.5% of the global population is confirmed to have contracted the virus at some time.Total confirmed new coronavirus cases worldwide stand at over 513.6 million with an average case fatality rate of 1.22%.The rate of new coronavirus infections appears to now be increasing only in South Africa, Cyprus, Honduras, the Solomon Islands, Taiwan, and Trinidad.Coronavirus restrictions have been tightened in Beijing, China as another 51 new cases are reported, and much of the city’s public transport has been shut down. China is one of the very few nations pursuing a “zero covid” strategy.
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