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On January 27th, Jiangsu Province successfully completed its V2G (vehicle-to-grid) centralized discharge test, achieving a maximum discharge power exceeding 10,306 kilowatts. The six V2G-enabled 4.0 battery swapping stations in Nanjing, upgraded in cooperation with NIO, played a crucial role in this evening peak-hour supply guarantee test, achieving a maximum discharge power of 1,539.85 kilowatts, accounting for 15% of the provinces total maximum discharge power, making them one of the core components of this V2G interaction test. It is understood that three V2G stations each in Wuxi and Suzhou, jointly deployed by GCL Energy and NIO, are also about to be connected to the grid, expanding the number of stations in the core urban cluster of the Yangtze River Delta to 12, further increasing the scale of V2G interaction discharge. In the future, both parties will continue to expand the coverage and scope of their cooperation in V2G interaction.On January 27th, TRS announced that it expects a net loss attributable to shareholders of the listed company of RMB 250 million to RMB 310 million in 2025, compared to a loss of RMB 94.1456 million in the same period last year. The change in performance is mainly due to the slower-than-expected recovery of the industry in which its subsidiary, Tianxing Network Security, operates, resulting in a proposed impairment provision of RMB 140 million to RMB 160 million for goodwill. This is compounded by the postponement of downstream customer projects, the delay in new procurement, the contraction of traditional business during the artificial intelligence transformation period, and the rigid investment in period expenses.On January 27th, Jinpan Technology announced its plan to issue H shares overseas and list on the Main Board of the Hong Kong Stock Exchange. The companys board of directors has authorized management to initiate preliminary preparations for the H-share listing, with the authorization period lasting 12 months from the date of board approval. The company plans to discuss the specific details of the H-share listing with relevant intermediaries. Details regarding the H-share listing have not yet been finalized.Volkswagen CEO: (On the EU-India trade agreement) We are optimistic about Indias potential in Volkswagens business and will closely review this agreement.Driven by the surge in silver prices, U.S.-listed silver mining stocks rose in pre-market trading. Heckler & Co. (HL.N) rose 3.1%, Cordell Minerals (CDE.N) rose 2.2%, Silvercorp Metals (SVM.A) rose 2.3%, and Endeavour Silver (EXK.N) rose 2.8%.

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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