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On January 22nd, futures market news reported that oil prices fluctuated narrowly, while fuel oil saw positive news, and market participants maintained a wait-and-see attitude, providing some support. Downstream restocking was moderate, and buying interest picked up. It is expected that fuel oil trading prices will remain stable with a slight increase today.Futures News, January 22nd: I. Domestic Weather (1) Low temperatures still exist in Jiangnan and other areas, with temperatures gradually rising on the 23rd. On January 22nd, low temperatures still exist in Hunan, Guizhou, Jiangxi and other areas, with temperatures gradually rising from the 23rd. (2) Heavy to blizzard conditions in southwestern Tibet. From the night of January 22nd to the 24th, moderate to heavy snow is expected in parts of western Xinjiang and southwestern Tibet, with blizzards or heavy blizzards in some areas. During this period, light to moderate snow will occur on the Qinghai-Tibet Plateau from west to east, and temperatures will drop by 6-8℃ after the snowfall, with some areas experiencing drops of more than 10℃. II. Global Weather (1) Strong rain, snow, strong winds and temperature drops are expected in Central Asia and West Asia. Over the next three days, affected by the low-pressure system, some areas in southern Central Asia, central and eastern Afghanistan, the Pamir Plateau, eastern Far East, and central and northern Japan will experience heavy to blizzard-like snow or sleet, with some areas experiencing heavy to extremely heavy snow. Most of these areas will see a temperature drop of 8 to 12°C, with some areas experiencing a drop of 14 to 16°C, accompanied by strong winds of level 4 to 6 and above. (2) Heavy rainfall in central and southeastern Brazil. Over the next three days, affected by the low-pressure system, some areas in Brazil, Ecuador, western Colombia, Peru, and northern Bolivia will experience moderate to heavy rain, with some areas experiencing torrential rain. (3) Heavy precipitation in southern Africa and strong winds and temperature drops in the northwest. Over the next three days, affected by the low-pressure system, some areas in southern Africa, including Madagascar and Botswana, will experience moderate to heavy rain, with some areas experiencing torrential rain, accompanied by short-term heavy rainfall, thunderstorms, strong winds, and other severe convective weather. Temperatures in Libya and other areas will drop by 6 to 10 degrees Celsius or more, accompanied by strong winds of level 4 to 6 or higher.Japans Ministry of Finance: Japans exports to the United States fell 11.1% year-on-year in December, while exports to Asia rose 10.2% year-on-year.Integrated Circuits (Chips): 1. Ministry of Industry and Information Technology: Accelerate breakthroughs in key technologies such as training chips and heterogeneous computing power. 2. Moores Threads: Expected revenue of RMB 1.45 billion to RMB 1.52 billion in 2025. 3. Japanese automakers join forces with chip manufacturers to establish a database to prevent supply disruptions and geopolitical shocks. 4. The US says its goal is to move 40% of Taiwans semiconductor supply chain capacity to the US; Taiwan Affairs Office responds. 5. TSMCs advanced 3nm process faces unprecedented production bottlenecks; all capacity is booked until 2027. Artificial Intelligence: 1. OpenAI founder Altman meets with Middle Eastern investors to discuss $50 billion in funding. 2. The Qianwen series of models has surpassed 1 billion downloads. 3. OpenAIs first hardware device is reportedly an AI headset. 4. Apple plans to reshape Siri into a built-in chatbot, possibly announcing it in June. 5. Anthropics annual revenue is reportedly over $9 billion by the end of 2025. 6. White House AI report: Research estimates AI could boost GDP by 1% to over 45%. 7. Apple plans to launch its first wearable AI pin in 2027, with an initial production run of 20 million units. 8. Ministry of Industry and Information Technology: By 2025, my country will have over 6,000 AI companies, with the core industry expected to exceed 1.2 trillion yuan. 9. Meta: The Super Intelligence Lab delivered its first batch of key AI models internally in January, and the new AI models performed "very well." Other: 1. my country successfully conducted an automatic platooning test of heavy-haul trains. 2. Ministry of Industry and Information Technology: my country has launched the second phase of 6G technology trials. 3. Shanghai tax authorities fined Pinduoduo 100,000 yuan. 4. French game giant Ubisoft restructured its business, canceling six games and lowering its performance guidance. 5. Ministry of Industry and Information Technology: Will release guidelines for the construction of a comprehensive standardization system for humanoid robots and embodied intelligence. 6. Reports indicate that Googles Chromebook shipment target for this year remains unchanged from 2025, at 19.5 million units. 7. Sources: Nvidia CEO Jensen Huang plans to visit China in late January to attend a company gathering before the Spring Festival holiday. On January 22nd, a research report from CITIC Securities pointed out that the USD/CNY exchange rate has also continued to rise recently. Given the still strong willingness to settle foreign exchange in the short term, and the fact that the beginning of each year is a major window for RMB appreciation, it cannot be ruled out that the RMB will continue to rise before the Spring Festival, releasing appreciation pressure. The combination of falling US Treasury yields and a strengthening RMB will put considerable pressure on current US Treasury holdings. However, after entering March, US Treasury yields and the RMB exchange rate may simultaneously peak, at which time a more ideal buying opportunity will be provided.

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.