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On September 21st, in response to recent reports that Li Auto was preparing to supply its self-developed technology products, such as Mach chips and silicon carbide modules, to external suppliers, Li Autos Ma Donghui stated at a media briefing that the chips and silicon carbide modules could be exported. These chips are small in size, can be adapted by other manufacturers, and have strong versatility. However, Li Autos self-developed PACK packages cannot be exported. The PACK packages are customized and developed according to Li Autos own vehicle requirements and model characteristics, and their production capacity is also matched to Li Autos overall vehicle production capacity. "Some of Li Autos self-developed components that can be standardized into products can be sold externally," he said.On September 21, Air China announced that, in light of the external macroeconomic environment, capital market environment, and the companys strategic development plan, and adhering to the principles of safeguarding shareholder interests and being responsible to shareholders, after careful discussion and analysis, the company has decided to terminate its plan to issue overseas listed shares (H shares) and list on the Hong Kong Stock Exchange, and instead raise funds by issuing A shares to specific targets, thereby promoting the implementation of the companys business strategy, improving the companys overall competitiveness, and optimizing its capital structure.On September 21, Huawei Clouds CodeArts AI agent underwent a comprehensive upgrade for HarmonyOS developers, launching three core capabilities: "HarmonyOS Coding Model + CodeArts HarmonyOS AI Agent + HarmonyOS Developer Practice Center," creating the worlds first and only AI coding AI agent specifically designed for the HarmonyOS ecosystem.According to the Financial Times: Trump continues to pressure Zelensky to stop attacking Russian oil refineries.Chicago Fed President Goolsby, a 2027 FOMC voting member, will speak in ten minutes.

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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