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June 3rd - Recently, several private banks have collectively lowered interest rates on medium- and long-term fixed deposits. Many medium- and long-term fixed deposit products that previously offered interest rates in the "2%" range have now fallen back to the "1%" range, with some banks even discontinuing these products altogether. Experts interviewed analyzed that the advantage of high-interest deposits offered by private banks is gradually fading, and the industrys transformation is accelerating. Affected by interest rate changes, the logic of residents savings allocation has clearly shifted, and private banks urgently need to break free from the predicament of homogenization and seek long-term development through differentiated approaches.Japanese Finance Minister Satsuki Katayama: I agree with the views of the Bank of Japan Governor on several issues.Artificial Intelligence: 1. Microsoft launches AI software that can act as an administrative assistant. 2. Nvidia collaborates with Microsoft to develop a unified technology stack for agent-based AI. 3. The EUs AI data center plan is hampered by delays and funding issues. 4. Tencent Cloud: Reduces the price of its DeepSeek-V4 series models by up to 97.5%. 5. Anthropic is providing access to Mythos to an additional 150 institutions worldwide. 6. OpenAI plans to launch AI tools for the financial and legal sectors to compete with Anthropic. 7. Trump signs an executive order on AI, requiring AI companies to submit large-scale models to the government for review before releasing them. Integrated Circuits (Chips): 1. Arm CEO: The $15 billion sales target for its own chips may be achieved ahead of schedule. 2. SK Hynix plans to double its wafer capacity within five years. 3. Nvidia announces full-scale production of NVIDIA Spectrum-X Ethernet silicon photonics technology. 4. Microsoft launches a new quantum chip, aiming to build a practical quantum computer by 2029. Other: 1. SoftBank plans to invest $300 million in robotics startup Agile Robots. 2. IBM plans to invest over $10 billion in quantum computing over the next five years. 3. SpaceX seeks to reduce its IPO underwriting fee to 0.75%. 4. Jensen Huang stated that Marvell Technology will become the next trillion-dollar company. 5. my country achieves a major breakthrough in optical communication technology; the worlds first three-band ultra-low-loss multi-core optical cable line is officially opened. 6. Tencent Cloud: Reduces the price of its DeepSeek-V4 series models by up to 97.5%. According to Iranian media reports, the Iranian Revolutionary Guard launched missiles at a “US-affiliated vessel named PANAYA” in response to the US attack on an Iranian oil tanker near the Strait of Hormuz.1. Russian Ministry of Defense: High-precision long-range weapons were used to strike Ukrainian defense industrial facilities. 2. Ukrainian Air Force spokesperson: Russia launched eight Zircon hypersonic missiles in a nighttime attack on Ukraine, possibly the largest number launched during the Russia-Ukraine conflict. 3. Zelenskyy stated that the Russian attack has resulted in 22 deaths and 130 injuries in Ukraine. 4. Kyiv official: The death toll from hostile attacks in Kyiv has risen to 79. 5. Ukrainian President Zelenskyy: The delivery of anti-missile weapons cannot keep pace with the Russian missile attacks. 6. Hungarian Prime Minister: An agreement with Ukraine is expected this week, thus initiating the EU accession negotiation process. 7. According to Politico: Ukraine and Moldova are expected to begin formal EU membership negotiations in June.

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.

 

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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.