Federal Reserve Takes a Dovish Stance as Inflation Cools: How It Impacts Chancer
Recent weak jobs and inflation data in the United States have prompted the Federal Reserve to reconsider its plans for interest rate hikes. This dovish stance could have significant implications for Chancer and other cryptocurrencies. As a result, American stocks have surged to multi-month highs, while the US dollar index has slipped to its lowest level since April 2022. In addition, US bond yields and the CBOE VIX index have turned downwards following the release of positive inflation data. These economic indicators may potentially impact the performance of Chancer.
US Inflation and Jobs Data
The US published a mixed bag of job numbers last week. According to a report by ADP, the American economy added over 400k jobs in June, the highest figure in years. However, a separate report from the statistics bureau revealed that the country added over 209k jobs during the same month, which was lower than expected. Additionally, the US released soft consumer inflation data, with the headline Consumer Price Index (CPI) dropping from 4% in May to 3.0% in June. Core inflation also continued to decline.
These economic figures suggest that inflation is approaching the Federal Reserve’s target rate of 2% faster than expected. The decrease in global shopping costs and China’s proximity to deflation, as a major exporter to the United States, have played a role in this trend.
Considering the impact of these economic data on the Federal Reserve, many economists believe the financial institution will now deliver fewer interest rate hikes than previously anticipated. It is expected that after the July meeting, the Fed will implement one more 0.25% rate hike and then pause indefinitely. According to an analyst at Point72, this change in the Fed’s position would be favorable for assets such as stocks and cryptocurrencies.
Chancer Token Sale Continues
In other cryptocurrency news, Chancer developers have introduced additional payment options for purchasing the Chancer token. Apart from BUSD, users can now also buy the token using Ethereum, Tether (USDT), and Binance Coin. This expansion of payment options provides users with more flexibility when investing in the token.
🚀💎 The moment you’ve been waiting for is here! 🌟💸
You can now purchase $CHANCER using $ETH, opening up a whole new world of possibilities! 💥🔥
Get in on the action, secure your tokens, and ride the wave to incredible profits! 🌐💰
🤑BUY HERE: https://t.co/iHffMmdhCk pic.twitter.com/ppSxsDQfrQ
— Chancer.com (@ChancerProject) July 12, 2023
The Chancer token presale is off to a successful start, with thousands of people already purchasing the token and raising over $748k in funding. The total number of Chancer tokens sold currently stands at over 74 million.
Chancer is a disruptive platform that aims to revolutionize the sports betting and prediction market using blockchain technology. It offers a global platform for betting on international sports using cryptocurrencies. Moreover, Chancer allows any user to create their own markets and livestream them, giving a global audience the opportunity to bet on these markets. In return, the market creator receives a portion of the bets placed.
As the developers prepare to launch the testnet in the coming months, Chancer continues to sell tokens. If you’re interested in buying the $CHANCER token, you can do so on their website. To learn more about the project, it is recommended to read the Chancer white paper. However, caution should always be exercised when investing in token presales like Chancer.