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On July 9th, the State Council issued the "15th Five-Year Plan for Carbon Peak Achievement." The plan aims to accelerate the low-carbon transformation of the transportation sector. It will further promote low-carbon energy use in transportation, continuously increase the number of new energy vehicles, accelerate the electrification of public sector vehicles, actively promote the electrification of construction sites, mines, ports, airports, logistics parks, and other operating vehicles and non-road mobile machinery, and phase out old transportation vehicles. It will support the large-scale application of new energy heavy-duty trucks, improve charging and battery swapping facilities, and green hydrogen, ammonia, and methanol refueling facilities. It will focus on building zero-carbon highway transportation corridors on national highways and ordinary national roads with high freight volumes, and accelerate the improvement of clean transportation levels. It will also develop electric, liquefied natural gas, biodiesel, and green methanol-powered ships. The plan will accelerate the adjustment and optimization of the transportation structure, continuously increase the proportion of bulk cargo transportation by rail and waterway, and the proportion of new energy vehicle transportation. It will further implement the strategy of prioritizing urban public transportation development and create a green urban travel system. By 2030, the plan aims to achieve a 30% share of new energy vehicles and a 25% share of new energy operating vehicles.China Association of Automobile Manufacturers (CAAM): FAW-Volkswagen and SAIC-Volkswagen sold a total of 143,812 passenger vehicles in the Chinese market in June.According to a Reuters survey, the renminbi is the only Asian currency to receive bullish bets in this round of surveys.According to Al Arabiya, Bahraini authorities have announced that the danger has passed.The onshore yuan closed at 6.7935 against the US dollar at 16:30 on July 9, up 58 points from the previous trading day.

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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