Wall Street is closely watching the speech of Federal Reserve Chairman Jerome Powell, scheduled for later in the session on Wednesday, although the overall tone seems optimistic. Salesforce has positively surprised with its third-quarter results, while in Europe, the French Government is facing a motion of no confidence.
Investors will be attentive to his comments in search of new clues about the central bank's plans regarding interest rates. This speech comes just weeks before the last meeting of the U.S. central bank in 2024, where policymakers are expected to decide to cut interest rates again by 25 basis points.
Cryptocurrencies are rising strongly this Wednesday. Bitcoin #BTC☀️ is up just over 1% and is approaching $97,000, while Ethereum #ETH is up over 2% and is trying to conquer $3,700.
In turn, most altcoins are trading, for the most part, higher. Solana##SOL and Shiba Inu (SHIB) are up 4%, while Toncoin (TON) and Avalanche (AVAX) are up just over 7%.
Meanwhile, Binance coin $BNB is soaring to a new all-time high, buoyed by bullish sentiment in the market, as is Tron (TRX): Justin Sun's cryptocurrency has gained 60% in the past 24 hours. Sun has called TRX the new XRP, but some market analysts are questioning this theory.
The Seoul Stock Exchange and the won decline after martial law and despite the injection of #BOK
The main index of the Seoul stock exchange, the Kospi, fell by 1.44% this Wednesday, while the won depreciated to 1,410.56 units per dollar, after martial law was declared the day before and despite the attempts of the Bank of Korea (BOK) to curb the decline.
The South Korean benchmark dropped 36.1 points to settle at 2,464 units, and the tech index Kosdaq lost 13.65 points, or 1.98%, to end at 677.15 points.
Meanwhile, the local currency (the won) also suffered a depreciation against the dollar, trading at 1,410.56 won per greenback this Wednesday, down from 1,402.9 the day before, a slight recovery after it had fallen to 1,441 units, or 3%, during the early morning. #bok #won