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On April 14th, it was announced that the worlds first "autonomous driving mobile space" route—the Guiyang "Adventure Loop"—will officially begin trial operation on April 20th. This project, a joint venture between Guizhou Hankais Intelligent Technology Co., Ltd. (a company located in Guiyang High-tech Zone) and Guizhou Kanshe Taiyu Tanxing Technology Co., Ltd., is launching its commercial pilot operation in Guanshanhu District. This marks a significant step for the companys "autonomous driving mobile space" category, moving from technological research and development to city-level commercial validation.Hong Kong-listed Shanghai Auntie (02589.HK) surged more than 11%.On April 14, Iranian Oil Minister Mohsin Paknejhad stated that Irans oil sales have been strong since the outbreak of the military conflict with the United States and Israel, and a portion of the revenue will be used to repair the damage to industry caused by the wartime attacks. Paknejhad said that Iranian oil industry workers maintained the operation of various facilities during the conflict, ensuring that oil exports "have not been interrupted for even a day," including key export hubs such as Kharg Island.April 14th - According to the Financial Times, BP stated that its oil trading division achieved "extraordinary" results in the first quarter following the surge in crude oil prices caused by the war with Iran. The energy supply crisis caused by the war has scrambled for available cargoes by traders and refineries to fill the large energy supply gaps caused by the conflict in the Gulf region. Last week, the price of North Sea crude oil for immediate delivery hit a record high of nearly $147 per barrel. In its trading report released before the results announcement on April 28th, BP also stated that its net debt for the first quarter would increase by approximately $3 billion to $5 billion due to increased working capital (i.e., funds needed for daily operations). This move aims to ensure the company has sufficient cash reserves to cope with the current market volatility. Last week, Shell also stated that it expects the war to bring significant growth to its trading business.ANZ Bank: Production of 1 million to 2 million barrels per day could face permanent or semi-permanent disruption due to reservoir damage, maintenance delays and financial challenges.

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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