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A survey by the Central Bank of Russia predicts that the average benchmark interest rate will be 14.5% in 2026 (unchanged from previous forecasts).On September 2nd, Federal Reserve Chairman Williams stated that bond yields are an important indicator for the Feds assessment of the economic situation. The recent rise in yields was primarily driven by strong economic performance, an optimistic economic outlook, and robust investment demand, with some correlation to the Middle East conflict. However, yields currently do not appear to be significantly affected by the inflation outlook. Williams emphasized that the Fed will consider all economic data comprehensively, and its ultimate responsibility remains price stability, with reducing the inflation rate to 2% being the top priority. Tariffs and the Middle East war are the main factors contributing to current inflation exceeding the target, but a second-degree inflation effect from tariffs has not yet been observed. Inflation expectations remain under control, and recent inflation data is encouraging, showing an overall downward trend, although inflation in the services sector remains significantly high. He stated that the labor market is stable and remains robust, and it is necessary to push inflation back to 2% in the foreseeable future. He hopes to further observe and analyze economic data before making the next policy decision and will continue to gather information for the next FOMC meeting. Williams expressed support for the decisions of the July FOMC meeting, believing that the current interest rate level is appropriate and monetary policy is progressing smoothly.Tensions in the Middle East remain high, with Brent crude oil prices nearing the $96 mark during trading. A chart provides a quick overview of the pre-market conversion prices of crude oil between domestic and international markets.The US August ADP employment figures were released, showing the smallest increase since January and falling short of market expectations. A quick chart provides a view of the converted prices of gold and silver in the pre-market session.Syria has confirmed to the International Atomic Energy Agency that it will participate in a briefing on nuclear issues from September 7 to 11.

Price Action in DOGE and SHIB Determined by Twitter and Elon Musk News

Daniel Rogers

Nov 07, 2022 17:53

 截屏2022-11-07 下午5.45.11.png

 

Sunday was a bearish session, with dogecoin (DOGE) falling for the fourth time in five sessions. The news that Twitter halted its crypto integration plans continued to weigh on the market, with bearish sentiment in the broader market contributing to the decline. However, technical indications remained optimistic, requiring a rebound to $0.15 for DOGE investors to retarget $0.20.

 

On Sunday, dogecoin (DOGE) lost 7.79% of its value. Following a loss of 1.33% on Saturday, DOGE closed the week at $0.1148, down 2.54%. Notably, DOGE avoided falling below $0.10 for the ninth session in a row.

 

After a range-bound morning, DOGE surged to a high of $0.1277 by early afternoon. DOGE fell to a final-hour low of $0.1119, failing to surpass the First Major Resistance Level (R1) at $0.1335. At $0.1177, DOGE fell through the First Major Support Level (S1). DOGE found support at the Second Major Support Level (S2) at $0.1110 and closed at $0.1148.

 

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On Sunday, the value of Shiba inu currency (SHIB) decreased by 4.98 percent. Following a loss of 0.40% on Saturday, SHIB closed the week at $0.00001184, down 0.67 percent.

 

SHIB surged to a high of $0.00001290 in the early afternoon hours, mirroring the price of DOGE. SHIB failed to surpass the First Major Resistance Level (R1) at $0.00001305 and fell to an intraday low of $0.00001175. SHIB dropped below the First Major Support Level (S1) at $0.00001201 and closed the session at $0.00001184.

 

The crypto news wires were again silent on that day. The absence of news placed Twitter (TWTR) and Elon Musk in the spotlight.

 

The news that Twitter halted development of a crypto wallet to accommodate DOGE and other cryptocurrencies was unfavorable for DOGE. DOGE and SHIB have also been negatively impacted by investor opinion about Elon Musk's post-acquisition modifications.

 

Advertiser defections pose the possibility of precipitous income stream declines, which could damper the optimistic outlook for DOGE adoption. It is also unknown how the increased $8 cost for the coveted blue check verification marks would affect user numbers.


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