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Japanese Prime Minister Sanae Takaichi: If the ruling coalition fails to win a majority of seats in the House of Representatives election, I will resign immediately.The main fuel oil contract surged 6.00% intraday, currently trading at 2770.00 yuan/ton.On January 26th, at Tencents annual meeting, Tencent Chairman Ma Huateng mentioned the upcoming 1 billion yuan cash giveaway for the AI application Yuanbao during the Spring Festival, expressing his hope to recreate the success of WeChats red envelope campaign. He also mentioned that Yuanbao is developing a social product called Yuanbao Pai, which he stated was originally a top-secret project. Previously, in 2015, WeChat Pay distributed hundreds of millions of yuan in cash red envelopes through its "shake" feature during the Spring Festival Gala, attracting a massive user base and successfully binding hundreds of millions of users to its ecosystem, achieving a lightning-fast transformation of user payment habits. This year, on February 1st, Yuanbao will launch its Spring Festival campaign, allowing users to share 1 billion yuan in cash red envelopes on the Yuanbao App, with individual red envelopes reaching tens of thousands of yuan.On January 26, Hong Kong Chief Executive John Lee stated at the Asian Financial Forum that Hong Kongs RMB bond market remains active, with its market size expected to exceed RMB 1 trillion in 2024 and maintain this level in 2025. As Hong Kong serves as a gateway connecting the world with the prosperity and development of the mainland, Lee emphasized that Hong Kong will continue to explore measures to deepen the interconnectivity between the mainland and Hong Kongs financial markets, including launching offshore government bond futures in Hong Kong and expanding interest rate derivatives business under the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect programs.Hong Kong-listed Jiufang Zhitou Holdings (09636.HK) continued to decline in the afternoon, with the current drop widening to 30%.

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.

 

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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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