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On May 10, according to the Islamic Republic News Agency (IRNA), Irans Ambassador Extraordinary and Plenipotentiary to Armenia, Khalil Sherhrami, emphasized that an agreement is possible if those countries that have illegally invaded Iran return to rational and logical practices in their policies and actions. In an interview with Armenian television on Saturday, Sherhrami stressed that the aggression against Iran by the US and Israeli regimes clearly demonstrates that Iran cannot be forced to surrender or accept extreme demands from either side through military means, pressure, or threats. He stated that Iran is willing to reach an agreement through negotiations, but this requires clear guarantees that the US will adopt rational and logical practices and ensure that it will not launch another military invasion of Iran. He also emphasized that Iran opposes the selective interpretation of international law and will never allow the Iranian nation to be deprived of its right to the peaceful use of nuclear capabilities.On May 10th, the head of the German Airports Association warned that due to the continued shortage of aviation fuel, more flights may be canceled in the future, and airfares may rise further. (Note: The German Airports Association is an industry organization representing the interests of German airport operators.) The German Press Agency (dpa) reported on the 9th that Ralf Bessel, CEO of the association, said in an interview with the German newspaper Die Welt: "We are concerned that more flights will be canceled, especially flights of low-cost carriers and flights to destinations less important to tourism." Bessel predicted that in the best-case scenario, passenger numbers will remain at current levels this year, while "in the worst-case scenario, capacity at some airports will decrease by 10%. If this is extrapolated to all airports, it will affect 20 million passengers."May 10 - According to the European-Mediterranean Seismological Centre, a 5.5-magnitude earthquake struck the coastal region of the Biobío Region in central Chile at 22:34 local time on May 9, with a focal depth of 34.3 kilometers. There are currently no reports of casualties or property damage.Israeli Foreign Minister: Two aid convoy activists have been expelled from Israel today.According to the official measurement of the China Earthquake Networks Center, a 3.2-magnitude earthquake occurred at 11:27 on May 10 in Qinghe County, Altay Prefecture, Xinjiang (45.81 degrees north latitude, 90.16 degrees east longitude), with a focal depth of 18 kilometers.

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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