On Thursday, American stocks rose to a multi-month high as the US dollar index fell to its lowest level since April 2022. Similarly, after the US published positive inflation data, US bond rates and the CBOE VIX index turned red. These figures, along with the weak employment data from the previous week, could have an impact on cryptocurrencies like Chancer.
US employment and inflation knowledge
Last week, the US released combined jobs data. According to an ADP report, the American economy created over 400k new jobs in June, which was a record-breaking number. According to a different study by the statistics agency, the economy of the country created over 209k new jobs throughout the month. The official report was a lot softer than expected.
The US then released disappointing consumer inflation data on Wednesday. The headline consumer price index (CPI), according to the Bureau of Labour Statistics, decreased from 4% in May to 3.0% in June. Additionally, core inflation decreased month over month.
Therefore, inflation is approaching the two percent objective rate and could follow this trend sooner than expected. For starters, as China has been approaching deflation, worldwide purchasing prices have plunged. China exports a lot of goods to the USA.
Due to their impact on the Federal Reserve, these figures will have an impact on all monetary assets. The majority of experts now predict that the Fed will raise rates by another 0.25% this month and then take an indefinite hiatus. An analyst at Point72 stated in a note:
“What we’re observing is consistent with the market tightening expectations for following the July meeting, but it doesn’t seem to be pricing in scope for price cuts this year.
A shift in policy by the Fed would be very positive for assets like stocks and cryptocurrencies.
Continued sale of Chancer tokens
The Chancer developers have introduced additional ways to buy the token, which is another significant cryptocurrency development this week. The creators expanded the list of ways to buy the coin to include Ethereum, Tether (USDT), and Binance Coin in addition to BUSD. This transfer is important because it gives clients a variety of ways to pay for the token.
The presale for Chancer’s tokens is going smoothly. For starters, the token has already been bought by hundreds of people, increasing the total amount raised to almost $748k. Over 74 million Chancer tokens have been made available overall.
To start, Chancer is a platform that aims to use blockchain technology to disrupt the sports betting and prediction business. It’s a global platform that could enable users to wager on international sporting events using bitcoins.
A user of Chancer will be able to establish their own markets and livestream them using the platform’s tools at the same time. One could, for instance, build a market for a regional sport and then allow spectators from around the world to bet on it. The individual will receive a portion of all the amounts placed in that market.
As the developers are ready to launch the testnet in the next months, Chancer is now selling tokens. The $CHANCER token should be bought right here. To learn more about the project, you should also read the Chancer white paper. Most importantly, we advise you to exercise caution when investing in the Chancer and other token presales.