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February 4th, Futures News: Economies.com analysts latest view: In recent intraday trading, WTI crude oil futures prices continued to rise, testing the resistance level near $63.50 and utilizing trading opportunities above the EMA50. The EMA50 represents key dynamic support, reinforcing the stability and dominance of the main short-term uptrend. Currently, oil prices are trading along the support line of this trendline, indicating strong upward momentum. Positive signals from the Relative Strength Index (RSI) support this bullish performance, confirming the improved momentum and paving the way for a breakout of this resistance level. If the breakout is successful, we will see additional gains in the short term.February 4th - According to sources, Indian financial regulators are considering a major overhaul of their banking oversight approach, shifting from the traditional "compliance check-in" model to a deeper analysis of banks business models. The sources indicated that the Reserve Bank of India (RBI) plans to conduct in-depth investigations into banks operational methods, rather than analyzing financial ratios in isolation during each inspection. It was also revealed that the regulator is seeking to increase staffing within its regulatory department, with a focus on recruiting cybersecurity experts, as cybersecurity has become a core concern due to the surge in digital risks within the banking system. The reform proposal is still under review and details may be adjusted. This shift comes against the backdrop of the unprecedented expansion of the Indian banking sector, placing immense pressure on regulatory tools designed for a simpler era. The governance failures at Societe Generale and the now-defunct New Cooperative Bank of India highlight how traditional, outdated regulatory approaches—relying on financial snapshots—can overlook vulnerabilities masked by healthy data.On February 4th, Duan Yongping, founder of BBK Electronics and a well-known investor, posted on his Xueqiu account "Da Dao Wu Xing Wo You Xing" that "FSD is indeed very useful, and the Model Y is not uncomfortable to drive. Now driving a Tesla is my first choice."February 4th - At 10:00 AM today (February 4th), the State Council Information Office held a press conference. Han Wenxiu, Director of the Central Rural Work Leading Group Office, stated that in accordance with the arrangements of the Party Central Committee, the second round of extended contracting pilot programs is progressing in an orderly manner and gradually being rolled out. This year, province-wide pilot programs will be fully implemented in 29 provinces (autonomous regions and municipalities) except for Guizhou and Tibet. This work is highly political, policy-oriented, and involves the masses. It is crucial to accurately grasp the policy tone, and the general principle is "major stability with minor adjustments."Hong Kong-listed airline stocks rose amid volatility, with China Eastern Airlines (00670.HK) up over 7% and China Southern Airlines (01055.HK) up over 6%. Air China (00753.HK) and Cathay Pacific (00293.HK) also saw gains.

Crypto Prices Slump Over the Weekend

Skylar Shaw

May 09, 2022 09:59

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The Bitcoin market dropped over the weekend, matching the stock market's decline.


According to CoinDesk pricing, the world's biggest cryptocurrency, bitcoin, plummeted to $34,656 on Sunday afternoon, down 3.9 percent from Friday evening. Bitcoin fell below $34,000 earlier this afternoon, about half of its all-time high of $67,802 set in November.


Ethereum, the second-largest cryptocurrency, was trading at about $2,565 on Sunday afternoon, down 5.1 percent from Friday at 5 p.m. EDT.


Bitcoin and other cryptocurrencies are notorious for their wild price volatility. 


For years, individual investors dominated the market, but institutional investors, such as hedge funds and money managers, have begun to take control.


The market has become more aligned with regular markets as more professional investors trade crypto. Many institutional investors that acquire cryptocurrencies see them as high-risk investments, akin to equities in the technology sector. During periods of market turmoil, investors prefer to flee to safer areas.


Last week, the stock market fell the day after the Federal Reserve issued a half-point rate hike, the largest since 2000, to combat inflation. Additional rate hikes are possible this summer, according to Fed Chairman Jerome Powell. 


Some of the central bank's $9 trillion asset portfolio is also being unwound.


The Nasdaq Composite, which is heavily weighted in technology, fell to a 52-week low of 12144.66 on Friday. It is down 22% so far this year.


For most of 2022, cryptocurrency prices remained flat as investors braced for higher interest rates. According to CoinMarketCap, the crypto market was busy over the weekend, with $112 billion in market volume in a 24-hour period. The total value of the cryptocurrency market is currently $1.59 trillion.

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