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Lebanese President Aoun: The framework agreement reached with Israel under US mediation must be fully implemented by both sides.According to Russian media citing the local governor, a drone attack in Yekaterinburg injured four people and damaged three buildings.On August 31, Ireland announced details of a new type of savings account designed to encourage retail investment and unlock significant household cash assets through tax incentives. These government-backed accounts, expected to launch early next year, will be tax-free up to a certain limit, after which a low, flat tax rate will apply. The limit and other specific details will be announced in the budget on October 6. This initiative is part of the EUs push to encourage savers to invest some of the approximately €11 trillion ($12.8 trillion) in bank accounts, aiming to boost European economic growth and increase household wealth. Listed stocks, bonds, and ETFs are eligible for investment under the scheme, but derivatives and crypto assets are excluded. The Irish government also stated that the current 38% tax rate on investment funds (referred to as deemed disposal) will not apply to state-backed accounts.On August 31, the UAE Ministry of Foreign Affairs issued a statement strongly condemning Irans drone attack on the country. The drone was successfully intercepted by air defense systems over UAE territorial waters. The statement pointed out that this action constituted a dangerous escalation, a blatant violation of the UAEs sovereignty, security, and stability, directly threatening the lives of its citizens and residents, and seriously contravening international law and the principles of the UN Charter. The UAE emphasized that it will not compromise on issues of national security and sovereignty under any circumstances and reserves the legitimate right to respond with all necessary means in accordance with international law. The UAE reiterated that such attacks are unacceptable both legally and humanitarianally and must be stopped immediately to ensure full compliance with the ceasefire. At the same time, the UAE demanded that Iran bear full responsibility for this attack and all its consequences.Indian Prime Minister Narendra Modi met with Iranian President Sergei Pezechyan during the Shanghai Cooperation Organisation (SCO) summit in Bishkek.

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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