EUR/USD 1.15683
1.338%
Gold 3357.10
2.040%
Oil 66.620
-3.233%
USD/JPY 147.431
-2.194%
GBP/USD 1.32607
0.406%
GBP/JPY 195.508
-1.753%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 2, Alexei Pushkov, a member of the Constitutional Committee of the Russian Federation Council, stated that the world cannot replace the amount of oil supplied by Russia, which accounts for about 10% of the global oil supply. Pushkov wrote on his social platform: "Despite Trumps warning of imposing high secondary sanctions tariffs, Indian refineries continue to purchase Russian oil. The Indian side explained that if the global market stops accepting 9.5 million barrels of oil per day from Russia, oil prices may rise to $135-140 per barrel. In fact, such a large amount of oil supply cannot be replaced at all, because Russia accounts for about 10% of the global oil supply."According to Argus on August 2, the eight core OPEC+ members will decide on August 3rd whether to fully exit their 2.2 million barrels per day (bpd) crude oil production cuts in September or adopt a more cautious approach due to heightened supply and demand uncertainty. The group has already decided to implement approximately 80% of its planned 2.46 million bpd production increase (including a 300,000 bpd adjustment to the UAEs quota). Market expectations are for another 548,000 bpd increase in September, matching the accelerated increase in August and restoring production 12 months earlier than originally planned. One delegate confirmed his countrys support for completing the full production increase in September, a move long advocated by several major members, particularly given that some countries have been producing above their quotas. However, due to concerns about oil prices, at least one member favored a cautious approach, suggesting that the 548,000 bpd increase be split into smaller adjustments of 137,000 bpd per month from September to December.On August 2nd, Federal Reserve Board Governor Kugler abruptly announced his resignation on Friday, giving US President Trump an opportunity to fill the Fed vacancy earlier than expected and potentially forcing him to finalize his next chairmanship months in advance. Derek Tang, an economist at the monetary policy analysis firm LH Meyer, said, "The ball is now in Trumps court. He has been pressuring the Fed to install his own candidate. Now his opportunity has arrived." While Powells term as chairman ends in May of next year, his term as a governor runs until 2028. If Powell doesnt voluntarily resign as a governor, Trump wont have another chance to fill the vacancy before 2028. In this scenario, Trump might be forced to fill Kuglers vacancy with a candidate he plans to promote as chairman. Tobin Marcus, head of US policy and political strategy at Wolfe Research, noted, "The key is that this is the only vacancy Trump can fill. If he wants to find the next Fed chair from outside, the nomination could be announced earlier."On August 2nd, Canadas retaliatory tariff increase against the United States earlier this year is leading the Trump administration to adopt a differentiated trade strategy with Mexico. Previously, Canada and Mexico enjoyed equal treatment—both were subject to a 25% base tariff and enjoyed extensive duty-free access under the USMCA. However, this situation took a sudden turn on Thursday: Trump announced a 90-day suspension of tariffs on Mexican goods, while simultaneously raising tariffs on Canadian products to 35%. Existing retaliatory measures have not only failed to curb the escalation of the conflict but have instead prompted even more severe retaliation from the United States. Economist and former Bank of Canada Governor Mark Carney has stated that retaliatory measures are limited in effectiveness. In fact, the Canadian government has diluted retaliatory tariffs through numerous exemptions, refrained from retaliating when the US raised steel and aluminum tariffs to 50%, and even eliminated its digital services tax at the request of the US.On August 2, the Palestinian Islamic Resistance Movement (Hamas) issued a statement today (August 2) emphasizing that "unless our national rights are fully restored, the most important of which is the establishment of an independent Palestinian state with Jerusalem as its capital and full sovereignty, we cannot give up armed resistance."

Bitcoin Completes Triangle Consolidation

Daniel Rogers

Oct 19, 2022 15:43

 截屏2022-10-19 下午3.34.56.png

 

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.


Suggestion