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On September 18th, the Ministry of Finance released its fiscal revenue and expenditure figures for January-August 2026. From January to August, national government fund budget expenditure totaled 5,194.8 billion yuan, a year-on-year decrease of 17%. Breaking it down by central and local governments, central government fund budget expenditure was 317.5 billion yuan, a year-on-year decrease of 58.3%; local government fund budget expenditure was 4,877.3 billion yuan, a year-on-year decrease of 11.3%, of which expenditure related to revenue from the transfer of state-owned land use rights was 2,178.6 billion yuan, a year-on-year decrease of 18.5%.The onshore yuan closed at 6.6973 against the US dollar at 16:30 on September 18, up 112 points from the previous trading day.On September 18th, the Ministry of Finance released its fiscal revenue and expenditure figures for January-August 2026. From January to August, national government fund budget revenue totaled 2,141.9 billion yuan, a year-on-year decrease of 19%. Breaking it down by central and local governments, central government fund budget revenue was 329.2 billion yuan, a year-on-year increase of 12.2%; local government fund budget revenue was 1,812.7 billion yuan, a year-on-year decrease of 22.9%, of which revenue from the transfer of state-owned land use rights was 1,375.3 billion yuan, a year-on-year decrease of 28.6%.On September 18, the Ministry of Finance released its fiscal revenue and expenditure figures for January-August 2026. From January to August, national general public budget expenditure totaled 18,145.1 billion yuan, a year-on-year increase of 1.2%. Breaking it down by central and local governments, central government general public budget expenditure was 2,817.7 billion yuan, a year-on-year increase of 6%; local government general public budget expenditure was 15,327.4 billion yuan, a year-on-year increase of 0.3%.Royal Bank of Canada: It expects the Bank of England to raise interest rates by 25 basis points in November 2026.

BTC Bulls Target $21,000 as ETH Breaks Down Resistance at $1,500

Skylar Shaw

Oct 27, 2022 16:22

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Bitcoin (BTC) increased by 3.95% on Tuesday. BTC finished the day at $20,104, reversing a loss of 1.25% from the previous day. Notably, BTC avoided falling below $19,000 for a fourth session and ended the day around $20,000 for the first time since October 5.


BTC dropped to a low of $19,251 late in the morning after a negative morning. However, BTC soared to a late-afternoon high of $20,432 after avoiding the First Major Support Level (S1) at $19,138. The Major Resistance Levels were breached by BTC. BTC, however, breached the Third Major Resistance Level (R3) at $20,258 due to a late retreat.


On Tuesday, Ethereum (ETH) increased by 8.63%. ETH finished the day at $1,460, reversing a loss of 1.47% from the previous day. Notably, ETH made its first appearance at $1,500 since the middle of September.


Following a volatile morning, ETH dropped to an early low of $1,335. ETH surged to a high of $1,525 in the late afternoon, avoiding the First Major Support Level (S1) at $1,322. The day's Major Resistance Levels were overcome by ETH. Late in the day, support came from the Third Major Resistance Level (R3) at $1,440.


A less hawkish Fed policy decision in December was predicted on Tuesday thanks to US economic figures. A Wall Street Journal article and FOMC member Mary Daly discussed the Fed taking its foot off the throttle last Friday.


Economic figures this week have shown the impact of Fed policies on the economy. The services sector contracted more sharply in October's preliminary private sector PMIs, and consumer confidence also suffered.


The housing sector was also impacted by the increase in mortgage rates, with a noticeable slowdown in home price increases.


There are no relevant statistics at this time for the markets to evaluate. Although FOMC members are prohibited from speaking publicly until November 3, they are unable to alter the narrative, which supports the optimistic morning session.


The FedWatch Tool estimated the likelihood of rate increases in November and December to be 95.1% and 47.9%, respectively, as of this morning. The chance of a 75-basis point increase in December was 77.0% a week ago.


Elon Musk's intentions to complete the purchase of Twitter (TWTR) and rumors that CFTC Chairman Rostin Behnam may classify BTC and ETH as commodities are two more factors influencing the surge.

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