- ADA was the biggest decliner yesterday after giving up 2.1% As things stand, Ether (down 2.67%) and Ripple (down 2.18%) are underperforming today
- European markets are dropping as DAX descends to 14,300 (down 1.05%).
A reminder of where yesterday ended before the next session begins: leading equity indices in the US declined as S&P 500 lost 0.61% and ended the session at 3,995.32. Nasdaq shed 0.76% and closed at 11,171.
US markets are now currently closed and set to reopen today; meanwhile, European markets have struggled to gain ground and are now trading lower midway through the session. Asia-Pacific markets were down today as KOSPI Composite Index is down by 1.6%, reaching 2,361
Markets are trading lower today despite some positive data published earlier as highly important Crude Oil Inventories data from United States beat analyst expectations of -3.60 million with a reading of 10.23 million.
Amid the market gloom, United States Interest Rate released yesterday at 19:00 UTC with a figure of 4.5, while the previous figure was four. United States Consumer Price Index came out at 0.1%, while a consensus of analysts was expecting 0.3%.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as today at 13:30 UTC data for United States Retail Sales will be released, with an expected decline to -0.1% from the preceding figure of 1.3%. Today at 13:30 UTC data for United States Core Retail Sales will be released, with an expected decline to 0.2% from the preceding figure of 1.3%.
Furthermore, United States Philadelphia Fed Manufacturing Index (Dec) scheduled to come out today at 13:30 UTC.
Yesterday's bearishness meant that ADA lost 2.1% yesterday before closing at $0.3. Ether (down 2.67%), Ripple (down 2.18%) also underperformed yesterday.
Today's losses are adding to an 11 day bearish run, during which Cardano lost $0.014 of its value.