<p>Bitcoin Market picture</p><p class=“MsoNormal“>Crypto
market capitalisation rose 2% over the past 24 hours to $858bn. Bitcoin added
2.3% to $17.2K, trading near the top of its range since November 12. The
technical picture remains the same for Bitcoin, and it will need to confirm a
move out of its abnormally narrow range, whichever way it moves.</p><p class=“MsoNormal“>In the event
of a further rise, such confirmation would see a consolidation at above $18K,
near the 50-day moving average and local support from June through October. A
downward move could lead to further decline if it sends the price
below $16K.</p><p>Bitcoin News background</p><p class=“MsoNormal“>Amid the
collapse of FTX and the crypto market, Coinbase’s revenues could be halved by
2022, the company’s CEO Brian Armstrong said.</p><p class=“MsoNormal“>A new CNBC
poll shows that Americans‘ attitudes towards cryptocurrencies have deteriorated
significantly amid the collapse of the Terra ecosystem and the bankruptcy of
cryptocurrency exchange FTX. Only 8% of US residents have a favourable view of
crypto assets.</p><p class=“MsoNormal“>The Ethereum
team has said it plans to activate the Shanghai hardfork n March 2023.</p><p class=“MsoNormal“>Popular
Twitter analyst PlanB, author of the stock-to-flow model, reiterated his
confidence in the massive growth of bitcoin in 2023 or at least in 2024.
According to him, BTC will be worth between $100K and $1 million after the next
halving, with the first cryptocurrency expected to bottom in the next three
weeks.</p><p class=“MsoNormal“>This article was written by <a target=“_blank“ href=“https://www.fxpro.com/“ target=“_blank“ rel=“follow“>FxPro</a>’s Senior Market Analyst Alex
Kuptsikevich.</p>

This article was written by FxPro FXPro at www.forexlive.com.

<p>Russia’s state-run TASS news agency reporting that:</p><ul><li>Representatives from Russia and United States will meet in Istanbul on Friday,</li><li>the two sides would discuss a set of „difficult questions“ </li></ul><p>No further details at this stage. Tass citing an unnamed source. </p><p>A little more incoming:</p><ul><li>the two sides would discuss a set of „difficult questions“ Including visas, embassy staffing levels and the work of each side’s institutions and agencies abroad, among other unspecified issues.</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.

<p style=““ class=“text-align-justify“>If they can’t bring it to the rest of the world, there’s always China. Especially now as Xi has relented on the zero-Covid policy, re-opening demand is something to watch out for and that is going to be a welcome development for Russia and Putin.</p>

This article was written by Justin Low at www.forexlive.com.

<p style=““ class=“text-align-justify“>All eyes are on the central bank bonanza next week and with the Fed in focus, the US consumer price inflation report on Tuesday is going to be a massive one before the FOMC meeting on Wednesday. At the stage we are at, inflation data is essentially the new non-farm payrolls.</p><p style=““ class=“text-align-justify“>But before we get to that, we’ll get a teaser of sorts tomorrow via the November producer prices report. You would think that PPI tends not to be a market mover but in a time when inflation numbers mean everything, the data tomorrow will be a big one – as it was last month <a target=“_blank“ href=“https://www.forexlive.com/news/us-october-ppi-80-vs-83-expected-20221115/“ target=“_blank“ rel=“follow“>here</a>.</p><p style=““ class=“text-align-justify“>So, while broader markets are quiet today with very little to work with, don’t expect that to last when we get to US trading tomorrow.</p>

This article was written by Justin Low at www.forexlive.com.

<ul><li>Economic growth speed will continue rising</li><li>China economy operating within a reasonable range</li><li>Growth will continue amid implementation of optimised pandemic policies</li></ul><p style=““ class=“text-align-justify“>No change to the narrative from China as they continue to reaffirm the above set of policy remarks so far this year. The onshore yuan has seen a significant weakening against the dollar from 6.40 to 7.30 before sticking closer to 7.00 in the past week after another sharp drop as China puts an end to its zero-Covid policy.</p>

This article was written by Justin Low at www.forexlive.com.

<p style=““ class=“text-align-justify“>The dollar is a touch higher but ranges are relatively narrow, so there isn’t much to really comment on. This comes as we see a bit of a bounce in Treasury yields after the plunge yesterday. 10-year yields are up 4 bps on the day to 3.46% but still keeping below the key technical level noted <a target=“_blank“ href=“https://www.forexlive.com/news/a-bit-of-a-bounce-in-yields-today-but-the-drop-yesterday-has-more-to-it-20221208/“ target=“_blank“ rel=“follow“>here</a> after the break in US trading the day before.</p><p style=““ class=“text-align-justify“>Equities remain tepid with European indices little changed. Meanwhile, S&P 500 futures are up 4 points, or 0.1%, and that also isn’t saying much although the cash market will have a test of its 100-day moving average to contend with later today as pointed out <a target=“_blank“ href=“https://www.forexlive.com/news/eurostoxx-futures-01-in-early-european-trading-20221208/“ target=“_blank“ rel=“follow“>here</a>.</p><p style=““ class=“text-align-justify“>It is shaping up to be a bit of a sideways session as broader markets lack the appetite and conviction ahead of next week’s main events.</p><p style=““ class=“text-align-justify“>We will get a bit of a taste of things via the US PPI data tomorrow but until then, we may have to just settle for a bit of nothingness in between.</p>

This article was written by Justin Low at www.forexlive.com.

<p class=“MsoNormal“>Each month, the <a target=“_blank“ href=“https://primexbt.com/platform?utm_source=PR&utm_medium=PR&utm_campaign=PrimeXBT+Copy+Traders+Crush+Benchmark+November+Performance+With+4%2C000%25+ROI%2C+Report+Reveals“ target=“_blank“ rel=“follow“>PrimeXBT margin trading platform</a> releases its trader report with updated stats and info on the platform’s best traders. With new data released for the volatile month of November, how have important events like the collapse of FTX or the rebound in equities impacted the results?</p><p class=“MsoNormal“>Most months are memorable, but November has been one for the record books, with a new trader achieving more than 1,000% ROI and a long-standing strategy manager reaching more than 4,000% in all-time profits. Keep reading to dig into the November results.</p><p class=“MsoNormal text-align-start“>Why Investors Use The S&P 500 As A Benchmark</p><p class=“MsoNormal“>While the cryptocurrency market saw further distress and disaster, the stock market picked up for the second month in a row. A 4% gain in the <a target=“_blank“ href=“https://primexbt.com/price-chart/indices/sp500?utm_source=PR&utm_medium=PR&utm_campaign=PrimeXBT+Copy+Traders+Crush+Benchmark+November+Performance+With+4%2C000%25+ROI%2C+Report+Reveals“ target=“_blank“ rel=“follow“>S&P 500</a> took the two-month total rebound to more than 12%.</p><p class=“MsoNormal“>The S&P 500 is often used as the <a target=“_blank“ href=“https://www.investopedia.com/ask/answers/041315/what-are-pros-and-cons-using-sp-500-benchmark.asp“ target=“_blank“ rel=“follow“>benchmark</a> by investors due to its significant breadth of industry sectors and importance to the overall economy. Beating the benchmark is how institutional clients judge portfolio managers.</p><p class=“MsoNormal“>But at the Covesting <a target=“_blank“ href=“https://www.forexlive.com/terms/c/copy-trading/“ target=“_blank“ id=“f710cd77-d09c-415b-b82a-d25258a1d409_1″ class=“terms__main-term“>copy trading</a> module, members of the peer-to-peer trading community aren’t just beating the benchmark; they are absolutely crushing it with up to 4,000% ROI. The platform attracts top talent from all over the globe. </p><p class=“MsoNormal“>The newest swath of Covesting strategy managers earned as much as 1,000% ROI in the first month. Followers can roll the dice on these newcomers or use transparent performance data in the Covesting leaderboards. </p><p class=“MsoNormal text-align-start“>How PrimeXBT Copy Traders Are Crushing All Benchmarks</p><p class=“MsoNormal“>In fact, several top traders achieved more than 1,000% ROI in total profits, and monthly profits easily crushed every investing benchmark standard ever set. A handful of traders were also able to reach a shocking 100% max win ratio, meaning that every trade closed during the month was profitable. </p><p class=“MsoNormal“>One trader closed 694 trades with a perfect streak, highlighting the high standard of traders working as strategy managers on PrimeXBT Covesting. Transparent performance metrics are available for followers to view in the leaderboards.</p><p class=“MsoNormal“>Followers can automatically copy the trades of any of the talent making the lists and earn a profit share of the shocking ROI these traders rake in each and every month. Using the data in the dashboard, followers can also set a stop loss to avoid drawdowns and take profit on any followings.</p><p class=“MsoNormal“>The platform also allows followers to follow several strategies at once to build a portfolio of high-performing passive investments. Strategy managers trade global markets like <a target=“_blank“ href=“https://www.bloomberg.com/crypto“ target=“_blank“ rel=“follow“>crypto</a>, stock indices, commodities, and forex currencies with the goal of making profits and rising the leaderboard ranks.</p><p class=“MsoNormal text-align-start“>Read The Full Monthly Trader’s Report For November At PrimeXBT</p><p class=“MsoNormal“>The most volatile year in decades in global markets is coming to an end next month, and there is no more exciting place to be than the PrimeXBT Covesting copy trading module. With incredible performance in November and markets on the cusp of more explosive price action, the best way to get positioned is by copying traders who can regularly beat benchmarks and bring in profits.</p><p class=“MsoNormal“>Check out the official PrimeXBT blog to see the entire monthly report, or visit the PrimeXBT trading platform to learn more about the <a target=“_blank“ href=“https://primexbt.com/for-traders/what-is-copy-trading/?utm_source=PR&utm_medium=PR&utm_campaign=PrimeXBT+Copy+Traders+Crush+Benchmark+November+Performance+With+4%2C000%25+ROI%2C+Report+Reveals#%3A%7E%3Atext=on+your+own.-%2CWhat+are+the+pros+and+cons+of+copy+trading%3F%C2%A0%2C-Copy+trading+sounds“ target=“_blank“ rel=“follow“>advantages of copy trading</a>.</p>

This article was written by ForexLive at www.forexlive.com.

<ul><li>Prior -0.8%</li><li>Market index 204.2 vs 208.1 prior</li><li>Purchase index 175.5 vs 181.0 prior</li><li>Refinance index 340.8 vs 325.5 prior</li><li>30-year mortgage rate 6.41% vs 6.49% prior</li></ul>

This article was written by Justin Low at forexlive.com.

<p style=““ class=“text-align-justify“>European stocks are holding lower, with S&P 500 futures also seen down 6 points, or 0.15%, so far on the day. Meanwhile, 10-year Treasury yields are little changed and keeping close to 3.53% so that is not offering traders a whole lot to work with in the major currencies space.</p><p style=““ class=“text-align-justify“>The dollar is sitting more mixed with USD/JPY up 0.3% to 137.40 but off earlier highs of 137.85, though buyers are still in near-term control as outlined earlier <a target=“_blank“ href=“https://www.forexlive.com/news/dollar-holds-steady-to-start-the-session-20221207/“ target=“_blank“ rel=“follow“>here</a>. Elsewhere, EUR/USD is up 0.3% to 1.0500 and running into a test of its 100-hour moving average (after a bounce near its 200-hour moving average):</p><p style=““ class=“text-align-justify“>Price action is somewhat stuck in between the key near-term levels and the same is said for GBP/USD, which is seen up 0.4% to 1.2180 levels. That said, cable is caught in a tussle in trying to stay above its 200-day moving average in the bigger picture:</p><p style=““ class=“text-align-justify“>This comes after a bit of a retreat after running into its August highs at 1.2276-93 and also its 50.0 Fib retracement level from the swing lower since last year, seen at 1.2303.</p><p style=““ class=“text-align-justify“>Elsewhere, USD/CAD is up another 0.2% to 1.3680 as oil prices are pressured further as noted earlier <a target=“_blank“ href=“https://www.forexlive.com/news/oil-tumbles-to-fresh-lows-for-the-year-20221207/“ target=“_blank“ rel=“follow“>here</a>. Amid a more tepid mood in the equities space, the antipodeans are mixed with AUD/USD down 0.2% to 0.6670-80 levels while NZD/USD is up 0.2% to 0.6332 currently.</p><p style=““ class=“text-align-justify“>AUD/USD in particular is getting sucked back in towards a test of its 100-day moving average (red line) as sellers continue to keep near-term control on a hold below its 100 and 200-hour moving averages at 0.6762 and 0.6741 respectively.</p>

This article was written by Justin Low at forexlive.com.

<ul><li>GDP +2.3% vs +2.1% y/y second estimate</li></ul><p style=““ class=“text-align-justify“>There’s a slight revision higher and looking at the breakdown, household consumption expenditure contributed to 0.4% in GDP growth while contribution from government final expenditure was negligible. Meanwhile, gross fixed capital formation contributed 0.8%, contribution from external balance was negative at -1.1%, and contribution from changes in inventories was seen up 0.2%.</p>

This article was written by Justin Low at forexlive.com.