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Conflict Situation: 1. Iraqi groups deny launching drone attacks against Saudi Arabia. 2. Israel conducts bombing and dismantling operations in southern Lebanon. 3. The Israeli Defense Minister confirms continued US military aircraft involvement in strikes against Iraq. 4. Israeli Defense Minister: Iranians are attempting to target Netanyahu. 5. According to Iranian media Fars News: A fire broke out at a US military base in Harir, Erbil province, Iraq. 6. Saudi Ministry of Defense: Air defense forces intercepted and destroyed several drones launched from Iraq targeting oil facilities in the eastern region. 7. According to Iranian media Fars News: Several loud explosions were heard in Erbil, Iraq, and a fire broke out at a US military base in Harir, Erbil province. 8. Houthi rebels in Yemen: A Saudi vessel was attacked with a ballistic missile. The armed forces will continue to maintain a maritime blockade against Saudi adversaries, implementing a strategy of "responding to a blockade with a blockade" and a comprehensive escalation of confrontation. US-Iran Negotiations: 1. Israeli media: Mediators believe the US and Iran are close to restarting the memorandum of understanding. 2. US President Trump: Now is a good time to reach an agreement with Iran; I hope to avoid attacking Iranian bridges and power plants. Iran needs a formal declaration that it does not possess nuclear weapons. 3. Iranian Deputy Foreign Minister: Information is still being exchanged with the US, but Iran has not requested negotiations with the US in the past few days. No requests for negotiations have been received from the US in the past ten days either. The Americans conveyed a message to us through Oman that they will not take military action against us. Strait of Hormuz 1. Iran: Ships that accept frozen Iranian assets as compensation will be prohibited from passing through the Strait of Hormuz. 2. Oman proposed a Strait of Hormuz management plan to Iran: joint regional management, with voluntary funding from users. 3. Omans proposed Strait of Hormuz management plan has received support from Gulf states. Iran has not yet responded. 4. Trump: Iran does not control the Strait of Hormuz; we control the Strait of Hormuz. Only ships that we want to pass through can pass through the strait. 5. Iranian Deputy Foreign Minister: Tehran will consider taking "any action" to maintain control of the strait, including restarting the war. A maritime blockade cannot force Iran to engage in dialogue. 6. Iranian Deputy Foreign Minister: France and the UK have been informed that any deployment of their warships in the Strait of Hormuz for mine clearance purposes would make those warships legitimate targets for attack. 7. US Official: Irans demands in the Sea of Hormuz are excessive, and Oman, the US, and the international community have a legitimate reason to reject them. The agreement under discussion is a coordination agreement; there are no tolls or fees. 8. US Central Command: As of July 28, US Central Command had redirected 18 commercial vessels, destroyed 2, and boarded and inspected 2 to ensure full compliance with the blockade measures. 9. Iranian Deputy Foreign Minister: Tehran proposed to Oman that Iran manage one-way shipping on one side of the Strait, while Oman manages a portion of the route on the other side. If Oman does not accept this proposal, the Strait will remain closed, and the southern shipping lane will not be recognized. Other Developments: 1. The next round of talks between Israel and Lebanon will begin on August 4. 2. Iranian media Mizan: The Iranian Islamic Revolutionary Guard Corps called on Saudi Arabia to end its blockade of Yemen. 3. 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According to Israels Channel 12: A senior Israeli official said Netanyahu has confirmed to Trump that "further strikes are inevitable" against those Iranian nuclear facilities that have been repaired. 9. Senior Israeli official: The meeting (with the US) was very successful and the atmosphere was very positive. Both sides discussed all areas of concern, with Iran as a focus, and reaffirmed their shared commitment to preventing Iran from acquiring nuclear weapons. 10. Market research and intelligence firm IIR reports: Saudi Aramco shut down its 400,000 barrels per day refinery in Jazan after the attack on July 25. Saudi Aramco expects to complete repairs and restart the refinery by August 15.Visa (VN) CFO: World Cup-related spending also drove the growth in U.S. payments.Visa (VN) CFO: Excluding the post-pandemic recovery, U.S. payment transaction volume is growing at its fastest pace since fiscal year 2019.Visa (VN) CFO: Higher tax refunds, fuel costs, and the timing of promotional shopping events have driven the growth in U.S. payments.U.S. officials: The agreement under discussion is a coordination agreement; there are no tolls or fees.

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.