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On May 14, Iranian Foreign Minister Araqchi stated that there is no military solution to the Iranian issue, and the Iranian people will never succumb to any threats or pressure. Araqchi also stated that Iran is prepared to fight to defend its freedom and territory, and is also prepared to continue resolving the issue through diplomatic channels.May 14th - The peak summer grain procurement season for 2026 is about to begin. Recently, ten departments, including the National Development and Reform Commission and the National Food and Strategic Reserves Administration, jointly issued a notice requiring the smooth operation of the 2026 grain procurement work. Through measures such as strengthening the overall organization of grain procurement, reinforcing the implementation of grain procurement policies, and continuously optimizing procurement services, the notice aims to ensure smooth channels for farmers to sell their grain and maintain the stable operation of the grain market. During this years summer grain procurement period, the state will continue to implement the minimum purchase price policy in major producing areas, adhering to a dual-drive approach of "market-led and policy-supported." Central state-owned enterprises such as China Grain Reserves Corporation (Sinograin) and COFCO will take the lead in entering the market and remain actively involved, improving service efficiency through "online appointments + offline procurement" to ensure that "money and warehouses are ready for grain," thus guaranteeing farmers income.Indian government data shows that the fuel price index in the wholesale price index rose 24.71% year-on-year in April.On May 14th, Jozsef Varadi, CEO of European low-cost carrier Wizz Air, stated that despite the impact of the conflict in Iran, the company expects revenue to increase by 2% year-on-year during the crucial summer travel season, thanks to its low fares attracting a large number of passengers and helping to offset the impact of the conflict. Varadi noted, "For the summer peak season, we have not only seen an increase in passenger volume but also observed an increase in revenue." This forecast sends a positive signal at a time when the air travel market is struggling with soaring fuel prices and concerns about declining passenger numbers.Iranian Foreign Minister Araqchi: Tehran calls on BRICS members to unequivocally condemn the aggression against Iran by the United States and Israel.

ETH and BTC Price Movement Determined by US Statistics and the NASDAQ

Daniel Rogers

Nov 04, 2022 17:36

截屏2022-11-04 上午11.21.34.png 

 

On Thursday, Bitcoin (BTC) and Ethereum (ETH) joined the larger market in the green. Despite Fed Chair Powell's hawkish speech on Wednesday, US economic indicators fell short of forecasts, alleviating Fed concern. The technical indications continue to be optimistic, indicating rising price movements. The price of Ethereum (ETH) increased by 0.86 percent on Thursday. ETH finished the day at $1,531, partially correcting a 3.80% drop from Wednesday.

 

Due to a rocky start to the day, ETH fell to a low of $1,515 early on. Avoiding the First Major Support Level (S1) at $1,475, ETH climbed to a morning high of $1,559. However, after falling short of the First Major Resistance Level (R1) at $1,593, ETH plummeted further below $1,530 before US economic indicators provided support.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads beginning at 0 pips and commissions of $3.50 every 100k traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

Bitcoin (BTC) climbed by 0.29% on Thursday. BTC concluded the day at $20,223, partially reversing a loss of 1.63% from Wednesday. Notably, BTC broke a four-day losing trend by avoiding sub-$20,000 territory for the ninth consecutive day.

 

BTC reached a mid-morning high of $20,404 after a strong start to the day. BTC plummeted to a midday low of $20,052 after failing to surpass the First Major Resistance Level (R1) at $20,629 during the trading session. Despite avoiding the First Major Support Level (S1) at $19,900, BTC retested $20,356 before retreating.

 

US economic figures supported cryptocurrency prices, with the crucial ISM Non-Manufacturing PMI below expectations.

 

The ISM Non-Manufacturing PMI decreased from 56.7 to 54.4 in October. Economists anticipate a drop to 55.5.

 

The subcomponents of the Index were diverse. ISM's Non-Manufacturing Employment Index decreased from 53.0 to 49.1. The Prices Index increased from 68.7 to 70.7. The unit labor costs increased by 3.5% in Q3 compared to 8.9% in Q2.

 

While the statistics were favorable for cryptocurrencies, Fed Chair Powell's recent comments weighed on the NASDAQ Composite Index. The NASDAQ Composite Index declined by 1.73 percent on Thursday.

 

The US jobs report will have a significant impact on the NASDAQ Composite Index and the cryptocurrency market today. Due to the sensitivity of BTC and ETH to US economic statistics and the FED, the correlation with the NASDAQ Composite Index remains intact. The NASDAQ 100 Mini gained 17.75 points this morning.


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