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Hong Kong-listed biopharmaceutical stocks rose amid volatility, with Innovent Biologics (09969.HK) surging over 4%, and other stocks such as Zai Lab (09688.HK), WuXi AppTec (02359.HK), WuXi Biologics (02269.HK), and Henlius Biotech (02696.HK) following suit.Hong Kong-listed new energy vehicle stocks fluctuated higher, with NIO (09866.HK) and Xiaomi Group (01810.HK) both rising by more than 3%, and Leapmotor (09863.HK), Li Auto (02015.HK), BYD (01211.HK), XPeng Motors (09868.HK) and other stocks following suit.1. Barclays: Expects to keep interest rates unchanged and may not make a clear statement on the timing of future rate cuts. A rate cut could come as early as next month, with lower inflation expectations and a weak labor market reinforcing the view that rates will be cut. 2. Goldman Sachs: Expects to keep interest rates unchanged. The vote was 7-2, and a rate cut could be more widely supported. Bailey may reiterate that there is room for rate cuts. A weak labor market will push for rate cuts to 3% in March, June, and September. 3. Capital Economics: Expects to keep interest rates unchanged, or may suggest that the next rate cut is not imminent and that rates may not fall significantly. If the prediction that CPI will fall below 2.0% comes true, then interest rates will fall to 3% instead of 3.5%. 4. Mitsubishi UFJ: Expects to keep interest rates unchanged due to stronger economic growth momentum. The more likely scenario now is a rate cut in May and another in August, bringing the benchmark rate down to 3.25%. 5. HSBC: Expected to keep interest rates unchanged. Unlike the European Central Bank, the Bank of England seems less concerned about the deflationary effects of further dollar depreciation, which could support the pound against the euro in the short term. 6. Scotiabank: Expected to keep interest rates unchanged. Since last August, the cycle of switching between rate cuts and maintaining rates has become longer, and the bank may lack a sense of urgency to cut rates. One or two more rate cuts are expected this year. 7. DBS Bank: Expected to keep interest rates unchanged. Bank of England Governor Bailey previously warned that future easing decisions would be more cautious and dependent on economic data. The pound/dollar should maintain a weak bias. 8. Oxford Economics: Expected to keep interest rates unchanged. If upcoming data gives the bank more confidence that wage growth is cooling, the next rate cut is likely to occur at the April meeting. 9. JPMorgan Chase: Expected to keep interest rates unchanged, with a 7-2 vote. The bank will raise its short-term unemployment forecast and lower its recent average wage growth and inflation forecasts, which will provide data support for a rate cut in March. 10. Nordea: Expects to keep interest rates unchanged due to more cautious wording in the previous forward guidance. The first rate cut is anticipated in March, but recent stronger growth momentum and risks favor a delay to April. 11. Trade France: Expects to keep interest rates unchanged and signal a gradual approach to rate cuts. Key swing trader Bailey is expected to support holding rates steady. A rate cut is expected at the end of April, with a high probability of two more cuts this year. 12. Morgan Stanley: Expects to keep interest rates unchanged, with a 6-3 vote and a riskier 5-4 outcome. Policy guidance is not expected to change. The terminal interest rate is expected to be 3%, with rate cuts in March, July, and November. Roth MKM: Raises Alphabet (GOOG.O) price target from $365 to $395.Sony (SONY.N): In talks with suppliers to increase memory supply; PS5-specific memory has been secured for this years holiday sales season.

Bitcoin Completes Triangle Consolidation

Daniel Rogers

Oct 19, 2022 15:43

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Bitcoin has gained 1.4% over the past twenty-four hours, trading at $19,550 at the time of publication. The day before, U.S. market indexes advanced significantly, and index futures are extending their gains as European trading begins. A backdrop of thriving stock markets stimulates demand for crypto assets, but overall volatility remains exceptionally muted.

 

Since June, Bitcoin's price variations have formed a triangle with a descending resistance line and a horizontal support at $18,800, and the price is currently moving at the triangle's right angle. Typically, this circumstance is handled by a volatility spike on the way out of the range.

 

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.

 

Confirmation of the break of the long-term consolidation should not be sought before the leave of the prior highs above $20,4K or the failure below $18K, with the second scenario having a higher possibility. However, we see that the slump in BTCUSD has lasted about a year, wiping out more than 70 percent of the high price and making long-term investments more attractive.

 

According to CoinShares, crypto fund investments increased marginally last week following a modest outflow the week prior. Inflows of capital totaled $12 million. Investments in Bitcoin climbed by $9 million, while investments in Ethereum declined by $4 million. 7 million dollars more was invested in funds that permit bitcoin shorting. CoinShares reported that investor inflows over the past five weeks had not exceeded 0.05% of assets under control.

History of the news

Bitcoin has the ability to decouple from conventional risk assets. According to LookIntoBitcoin, this may occur if investors realize that governments and fiat currencies pose the greatest threat. On the basis of prior cycles of investor capitulation, the time is currently appropriate for strategic BTC purchases.

 

According to a global poll of asset managers conducted by GlobalData, wealthy investors still desire to invest in digital assets. And because cryptocurrencies represent only 1.4% of their portfolios, they are willing to assume the highest level of risk.

 

The subsidiary of the French investment bank Société Générale has acquired authorisation from local regulators to store, purchase, sell, and trade bitcoins.

 

According to a recent Coincub research, in the third quarter of 2022 Germany surpassed Switzerland, Australia, the United Arab Emirates, and Singapore to become the most favorable country in which to operate a crypto firm. The United States fell from first to seventh rank due to unfavorable taxation laws and a lack of clarity around cryptocurrency legislation.


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