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Domestic News: 1. Xi Jinping meets with Indian Prime Minister Modi. 2. China will assume the BRICS presidency in 2027. 3. Dark Side of the Moon: Online rumors about the founder and employees are malicious fabrications; a police report has been filed. 4. State-owned Assets Supervision and Administration Commission of the State Council: Make good use of both domestic and international markets and optimize overseas investment layout. 5. State Administration of Foreign Exchange: Director Zhu Hexin meets with Hong Kong Securities and Futures Commission Chairman Wong Tin-yau and CEO Leung Fung-yee. 6. Xi Jinping: China is willing to work with BRICS members to play its due role in achieving peace and tranquility in the Middle East and the Gulf region. 7. China National Grain Reserves Corporation (CNGRC) issued a notice regarding the auction of frozen pork from the central reserves on September 15 and 16, 2026. International News: 1. Trump says the US and Canada are likely to reach an agreement "soon." 2. BRICS countries call on Middle Eastern countries to exercise maximum restraint. 3. ECB Governing Council member Kochel: High oil prices may force the ECB to raise interest rates further. 4. South Korean President Lee Jae-myung: Dependence on Middle Eastern oil has dropped to around 50%, and the public need not worry about oil prices. 5. Anthropic CEO: The pace of improving AI model capabilities must be slowed to ensure its security. 6. Middle East Situation—① British media: The US restricts air defense hours for oil tankers passing through the Strait of Hormuz. ② Trump: The war will end soon, and everything regarding Iran will be resolved smoothly. ③ According to the Bahrain National News Agency: Bahrain stated it will not participate in the meeting with Iran regarding the Strait of Hormuz. ④ Trump: Iran may be responsible for the attack on the Saudi pipeline; the Houthis do not want to fight us.On September 12, local time, President Xi Jinping met with Indian Prime Minister Narendra Modi in New Delhi, India, on the afternoon of the 18th BRICS Summit. Xi Jinping shared four points on promoting the steady and long-term development of China-India relations. First, aligning with an objective and rational strategic understanding. China and India are partners, not rivals, and opportunities, not threats, for each others development. This strategic judgment is based on the development stages of both countries and the international environment, and is in the common interest of both countries and their people. Second, achieving mutual success through win-win cooperation. Both sides should focus on development as the greatest common denominator, strengthening friendly exchanges and mutually beneficial cooperation. Expanding cooperation in areas such as people-to-people exchanges and direct flights will effectively improve the public opinion foundation for bilateral relations. Balancing and addressing each others economic and trade concerns will promote the healthy and stable development of bilateral economic and trade relations. Third, eliminating interference with the political wisdom of mutual respect and understanding. Both sides should be committed to advancing bilateral relations and border issues on a dual-track approach, promoting mutual progress, and maintaining peace and tranquility in border areas. Fourth, benefiting the world through open and inclusive multilateral cooperation. We will support each other in serving as BRICS chairs, strengthen cooperation within multilateral frameworks such as the United Nations, the Shanghai Cooperation Organisation, and the G20, work together to address global challenges, and resolutely defend international fairness and justice.September 12 - According to the website of the China Maritime Safety Administration, the Dalian Maritime Safety Administration issued a navigation warning that from 16:00 on September 13 to 16:00 on September 27, military operations will be carried out in parts of the Bohai Strait and the northern Yellow Sea, and entry is prohibited.Anthropic co-founder and CEO: Proposed that leading AI companies in democratic countries coordinate to establish common safety standards.Anthropic co-founder and CEO: Proposes that every leading AI company commit to providing continuous, staff-like access to a resident team of third-party evaluators.

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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