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1. Reuters poll: The Bank of Japan is expected to keep interest rates unchanged, with 60% of economists surveyed expecting a rate hike to 1% by the end of June. 2. ANZ: The Bank of Japan is expected to keep interest rates unchanged but will release hawkish signals, expecting a 25 basis point rate hike to 1% in April. 3. DBS: The Bank of Japan is expected to keep interest rates unchanged, possibly preferring to wait for the outcome of wage negotiations this spring; June-July presents a more suitable window for a rate hike than April. 4. Capital Economics: The Bank of Japan is expected to keep interest rates unchanged, with rising wages supporting a rate hike, but the Iranian conflict is the biggest variable, potentially delaying the rate hike further. 5. Daiwa Securities: The Bank of Japan is expected to keep interest rates unchanged; whether it raises rates in April could be a crucial turning point in determining market confidence in its commitment to tightening policies. 6. Allianz Group: The Bank of Japan is expected to keep interest rates unchanged; Kazuo Ueda may maintain the possibility of an April rate hike, while adding data-dependent conditions to hedge against any external shocks. 7. Mitsubishi UFJ: The Bank of Japan is expected to keep interest rates unchanged, but may raise them in April. Geopolitical risks have become the new normal, and stabilizing the yens exchange rate is becoming increasingly important for Japan. 8. Sumitomo Mitsui: The Bank of Japan is expected to keep interest rates unchanged and will focus on how rising oil prices will push up costs for petrochemical products and other oil-based commodities, and how these costs will be transmitted domestically. 9. Moodys Analytics: The Bank of Japan is expected to keep interest rates unchanged and may raise them to 1% around mid-year. Further weakening of the yen could prompt the central bank to raise rates later this year. 10. Natixis: The Bank of Japan is expected to keep interest rates unchanged and maintain a hawkish stance to avoid disrupting spring wage negotiations, while maintaining a tightening bias to alleviate new imported inflationary pressures. On Thursday, March 19, the Hong Kong Hang Seng Index opened down 474.86 points, or 1.82%, at 25,550.56; the Hang Seng Tech Index opened down 107.31 points, or 2.1%, at 5,000.99; the H-share Index opened down 143.29 points, or 1.62%, at 8,692.21; and the Red Chip Index opened down 26.31 points, or 0.61%, at 4,275.69.The Peoples Bank of China (PBOC) announced today that it conducted 13 billion yuan of 7-day reverse repurchase operations, with both the bid and winning bids amounting to 13 billion yuan. The operating rate was 1.40%, unchanged from the previous rate.Hong Kong stocks opened lower, with the Hang Seng Index down 1.82% and the Hang Seng Tech Index down 2.10%. Lithium battery, power equipment, and oil stocks led the gains, while chip and OpenClaw concept stocks retreated. Tencent Holdings (00700.HK) fell more than 4% after its earnings release.The main Shanghai silver futures contract plunged 6.00% intraday, currently trading at 18,852.00 yuan/kg.

Crypto Market Daily Highlights – DOGE Hits Reverse in a Mixed Session

Cory Russell

Nov 04, 2022 16:33

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The top 10 cryptocurrency exchanges had a choppy Thursday session. Dogecoin (DOGE), BNB, and XRP all found support as the price fell. BTC broke a four-day losing trend and continued to stay over $20,000.


US economic figures were below forecasts, supporting the cryptocurrency market.


The ISM Non-Manufacturing PMI decreased from 56.7 to 54.4 in October. Analysts predict a drop to 55.5. The Index's sub-components were diverse. The non-manufacturing employment index for ISM dropped from 50.0 to 49.1. The Prices Index, however, increased from 68.7 to 70.7.


The unit labor cost data and other statistics, which were crypto-positive, contained unemployed claims. Initial unemployment claims decreased from 218k to 217k, while unit labor expenses increased by 3.5% in Q3, down from 8.9% in Q2.


The statistics supported the cryptocurrency market, while the NASDAQ Composite Index dropped by 1.73% as traders responded to Fed Chair Powell's comments.


The focus of today's late-day crypto market test will be the US employment data. Better-than-anticipated results would test consumer interest. The NASDAQ 100 Mini was down 12.75 points this morning.

Despite Weak US Economic Indicators, the Crypto Market Finds Support

The crypto market saw a bumpy day on Thursday, plunging to an early low of $944.0 billion and then recovering to a late-morning high of $974.4 billion. The market valuation for cryptocurrencies fell to $952.3 billion in the late morning, but before investors reacted to the ISM Non-Manufacturing PMI, the market cap rose to $966.1 billion before relaxing again.


The cryptocurrency market increased by $4.6 billion to close the day at $956.2 billion despite the late decline.