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June 16th news, on June 16th, Zhang Yunming, Vice Minister of the Ministry of Industry and Information Technology, met with Faustino, Vice Minister of the Ministry of Communications of Brazil, in Beijing. The two sides exchanged views on strengthening the development and regulatory cooperation in the field of information and communications. Zhang Yunming said that under the strategic guidance of the two heads of state, China-Brazil relations have continued to deepen, and the two sides have carried out fruitful cooperation in the field of information and communications. China is willing to work with Brazil to fully implement the important consensus reached by the two heads of state, promote the docking of development strategies in the fields of information and communications infrastructure, technology application, and digital platform supervision, exchange management experience, expand pragmatic cooperation, and make new contributions to building a China-Brazil community with a shared future.According to the Islamic Republic News Agency (IRNA): Iranian Ground Forces Commander Haidari said that dozens of drones successfully hit Israeli targets.June 16th, a Democratic senator introduced legislation on Monday to prevent Trump from using force against Iran without congressional authorization. The current escalating fighting between Israel and Iran has raised concerns about a wider conflict. For many years, Tim Kaine of Virginia has tried to wrest the power of Congress to declare war from the White House. During Trumps first term, in 2020, Kaine proposed a similar resolution to curb Trumps ability to wage war against Iran. The measure passed both the Senate and the House, winning the support of some Republicans, but did not get enough votes to withstand the Republican presidents veto.Ukrainian Ministry of Defense: Russian troops attacked a training center of the Ukrainian Armed Forces, a Ukrainian military-industrial complex enterprise and an air defense radar.IAEA Director General Grossi: Expressed recognition of the cooperation and information exchange between the Iranian authorities and the IAEA.

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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