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June 25th - All major U.S. banks passed the Federal Reserves annual stress test, paving the way for billions of dollars in stock buybacks and dividends. This stress test assesses how Wall Street lenders would respond to hypothetical financial system shocks. Unlike previous years, the 2026 test results will not affect capital requirements, as the Federal Reserve continues to revise the test to make it more bank-friendly. This years test assessed how 32 large lenders would withstand severe global shocks under greater pressure in the commercial and residential real estate markets and corporate debt markets. Hypothetical scenarios included a severe global recession, a 39% drop in commercial real estate prices, and a 30% drop in residential prices. Unemployment would also surge to a peak of 10%, with a corresponding decline in economic output. Regulators stated, "Despite absorbing over $708 billion in loan losses under this years hypothetical scenario, total capital decreased by only 1.6 percentage points, remaining above the minimum capital requirements."June 25 - Micron Technology (MU.O) shares surged nearly 14% in after-hours trading, boosted by strong earnings. Other US chip stocks followed suit, with Marvell Technology (MRVL.O) up over 4%, Intel (INTC.O) up over 3%, ASML (ASML.O) up nearly 4%, Seagate Technology (STX.O) up 9%, and Qualcomm (QCOM.O) up 6%.Micron Technology will hold its Q3 FY2026 earnings call in ten minutes.Micron Technology (MU.O): Under the strategic customer agreements signed to date, the company expects to receive approximately $22 billion in cash deposits and related financial commitments.Micron Technology (MU.O): The company expects to gradually return all excess cash to its shareholders.

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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