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Japans tertiary sector activity index rose 1.1% month-on-month in May, below the expected 0.40% and the previous reading of 1.30%.On July 15th, it was reported that NIO appeared on the strategic investment list for Changxin Technologys IPO on July 14th, committing to a subscription amount of RMB 158 million with a lock-up period of 18 months. Disclosure information shows that NIO is Changxin Technologys cornerstone strategic partner for DRAM, and the two parties will conduct strategic cooperation on existing automotive-grade LPDDR4X and LPDDR5X products. NIO founder and chairman Li Bin responded today, stating that the cooperation is progressing smoothly and that the partnership with Changxin Technology will help stabilize NIOs supply chain.July 15th - According to the Financial Times, Oracle (ORCL.N) is leading the race to sell top-secret cloud services to Japan. The US considers such services crucial for ensuring secure intelligence sharing between Tokyo and its allies. According to seven sources familiar with the matter, the Texas-based company is ahead of Amazon Web Services (AWS), Microsoft (MSFT.O), and Google (GOOG.O) in bidding to provide air-gapped cloud services.July 15th - Following the listing of SK Hynix ADRs (SKHY.O), the market has expressed concerns that foreign investors might sell their domestic Korean shares in exchange for ADRs. However, Hyundai Motor Securities pointed out on the 15th that an ADR premium could actually increase foreign investors willingness to buy domestic shares. Kim Jae-seung, an analyst at Hyundai Motor Securities, stated, "The market is worried that the increased ease of investment in the US market after the ADR listing might lead foreign investors to sell their domestic shares and turn to ADRs to avoid volatility in the Korean stock market and the risk of the Korean won against the US dollar." He added, "However, a higher ADR premium could actually increase the attractiveness of domestic shares to foreign investors."Futures News, July 15th - Data released by the Petroleum Institute of Japan (PAJ) on Wednesday showed that for the week ending July 11th, Japans commercial crude oil inventories stood at 10,268,993 kiloliters, a decrease of 331,964 kiloliters from the previous weeks 10,600,957 kiloliters. Refinery operational capacity utilization was 86.20%, compared to 83.00% the previous week. Refinery design capacity utilization was 74.60%, unchanged from 73.00% the previous week. Due to changes in Japans petroleum product supply structure, the PAJ has suspended the release of weekly inventory details for gasoline, jet fuel, kerosene, and diesel.

BTC Fear & Greed Index Falls to 31 as Investor Focus Shifts to the Fed

Skylar Shaw

Oct 31, 2022 15:42

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Bitcoin (BTC) decreased by 0.89% on Sunday. BTC concluded the week up 5.42% to $20,647, partially undoing a Saturday gain of 1.08%. Notably, BTC avoided trading below $20,000 for the fifth day in a row and ended the day above $20,000 for the sixth straight session.


After a choppy morning, BTC increased to a high of $20,950 in the middle of the trading day. A late low of $20,532 was reached by BTC as it failed to reach the First Major Resistance Level (R1) at $21,091. Before partially regaining its footing to reach $20,647, BTC momentarily breached the First Major Support Level (S1) at $20,576.


In anticipation of a busy week for the global financial markets, investors had a calm day to lock in gains. The Fed announces its decision on interest rates this coming Wednesday. The Fed's intentions for December remain unclear, despite the markets' bets for a 75-basis point rate increase.


The bullish week was fueled by anticipation of a Fed turnaround in December. The markets, however, could see investor concern prior to the Wednesday decision. The sensitivity of the cryptocurrency market to US economic data and the Fed maintains the BTC link with the NASDAQ 100.


The NASDAQ 100 Mini was down 56.75 points this morning, pushing BTC into negative territory.

Investor caution increases ahead of the Fed, causing the Fear & Greed Index to decline.


The Fear & Greed Index dropped from 34/100 to 31/100 this morning. Investor apprehension ahead of the FOMC interest rate decision and press conference on Wednesday is reflected in the decline. A return of the Index to the Neutral area would be supported by confirmation of the Fed's shift in December.


As investors wait for the Fed to announce its policy, US economic statistics will continue to be the major focus in the near term. Prior to Wednesday's decision, important statistics include JOLTs job postings, ADP nonfarm employment, and ISM Manufacturing PMI data.


To support a reversal of the negative trend in BTC, the Index will need to hit 40/100 and the neutral zone. A decline to below 20/100 would indicate a BTC decline to below $18,000.

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