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March 16 - The Ministry of Commerce will hold a press conference at 3:00 p.m. on Thursday, March 19, 2026, where a spokesperson will introduce the recent key work in the commercial field and answer questions from reporters.On March 16, in response to US remarks concerning China regarding the Strait of Hormuz, Foreign Ministry Spokesperson Lin Jian stated at a regular press conference that the recent tensions in the Strait of Hormuz and its surrounding waters have disrupted international trade routes for goods and energy, and undermined regional and global peace and stability. China reiterates its call for all parties to immediately cease military operations, avoid further escalation of tensions, and prevent regional instability from having a greater impact on global economic development. China is maintaining communication with all parties regarding the current situation and is committed to promoting de-escalation.On March 16th, a fire broke out at an oil tank facility near Dubai International Airport (DXB) in the United Arab Emirates. Preliminary investigations suggest a drone attack caused the fire. Flights at Dubai International Airport have been temporarily suspended, and Emirates Airlines has announced a suspension of operations, with some scheduled flights cancelled today. Several domestic flights bound for Dubai have been diverted to other airports today, including Guangzhou to Dubai EK363, Shanghai to Dubai EK303, and Shenzhen to Dubai EK329, which have been diverted to Al Maktoum International Airport (DWC). Beijing to Dubai EK307 has been diverted to Muscat. Previously, domestic airlines had suspended flights to Dubai until the end of the month, with only Emirates Airlines still operating flights.March 16th Futures News: On March 16th, the Shanghai Futures Exchanges energy and chemical warehouse receipts and changes are as follows: 1. Pulp futures warehouse receipts: 174,616 tons, an increase of 2,384 tons compared to the previous trading day; 2. Pulp futures mill warehouse receipts: 17,000 tons, unchanged compared to the previous trading day; 3. Offset paper futures warehouse receipts: 360 tons, an increase of 360 tons compared to the previous trading day; 4. Offset paper futures mill warehouse receipts: 4,160 tons, unchanged compared to the previous trading day; 5. Fuel oil futures warehouse receipts: 0 tons, unchanged compared to the previous trading day. 6. Petroleum asphalt futures warehouse receipts: 36,100 tons, up 2,940 tons from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 61,780 tons, unchanged from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 3,511,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 25,620 tons, unchanged from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.EU High Representative for Foreign Affairs and Security Policy Karas: The US exemption of sanctions on Russian oil sets a dangerous precedent.

The Bogged-down Crypto Market

Cory Russell

Oct 08, 2022 14:09

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The market remained inside the range that has been in place since the second half of September once again as a result of the 50-day moving average in BTCUSD acting as local resistance.


At the time of writing, Bitcoin was trading slightly under $20K, down 1.9% over the previous day.


Investors in the cryptocurrency market have been deterred from purchasing as a result of a rapid rise in stock markets that has slowed down in recent days due to uncertainty. The market's capitalization dropped 1.6% over night to $956.

News context

We've lately seen some stability in the bitcoin market, according to Sam Bankman-Fried, CEO of the cryptocurrency exchange FTX. But when the Fed's monetary policy becomes more restrictive, it has an impact on all assets, leading cryptocurrencies as well as fiat money and stock indices to change.


Hoarders have amassed a record 13.7 million coins, or 71.5% of the whole BTC supply, according to Ark Invest, purchasing the cryptocurrency that has been falling since the spring. Additionally, vendors have almost reached the limits of their ability to sell.


Due to a higher dollar last week, the connection between bitcoin and gold hit its highest point in more than a year, according to Kaiko. Despite a Fed rate rise, gold and bitcoin failed to exert their role as haven assets.


The huge centralized and regulated Binance and Coinbase will be the main targets of the EU's ban on Russian cryptocurrency wallets, which may increase demand in smaller exchanges with laxer KYC but generally increase the danger of more active cryptocurrency sales.

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