- The mid-term election in the US will take place today with Republicans expected to take over both houses of Congress.
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Statistically, after the election, Wall Street indices usually gained, however markets are currently facing a big problem in the form of high inflation and a slowing economy
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The DJIA index jumped more than 1.5% today and reached 10 week high
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Besides DJIA, some of Wall Street and European indices also recorded 1.0% gains.
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According to media reports, the FTX crypto exchange is facing balance sheet problems. The FTX token was heavily sold off today, mainly through the Binance exchange. Ultimately, however, an agreement was reached between the entities and Binance is to take over FTX, which will lead to the creation of the largest cryptocurrency trading entity in the world. Thanks to this, BinanceCoin briefly rose by 15.0%
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Nevertheless upbeat sentiment quickly faded away as traders read the current FTX troubles as a problem for the entire cryptocurrency industry, which is why most projects are currently at daily lows
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Corn prices drop to 1-month lows after USDA data point to higher corn seedlings and plantation areas for the upcoming marketing year and expectations that Russia will comply with the grain agreement
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Gold surged above $ 1700 an ounce today, amid weakening cryptocurrencies and a very weak US dollar
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Natural gas is losing ground, closing the gap from the beginning of the week, even despite lower temperatures forecasts. The STEO EIA report indicates that gas consumption in November is to be higher compared to the previous report, however next year consumption in the same period is expected to be lower
Silver jumped over 3.0% on Tuesday and managed to break above the major resistance zone around $21.00, which is marked with upper limit of the descending channel, however buyers struggle to push price above the upper limit of the local 1:1 structure. Source: xStation5
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