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January 26th - The full-year economic data for 2025 has recently been released, showing that the national economy maintains a steady and progressive development trend. Recently, several international financial institutions have stated that the Chinese economy has demonstrated strong resilience and vitality, and looking ahead to 2026, in areas such as exports and consumption, the Chinese economy will inject more certainty into global development. Many institutions are particularly optimistic about the structural upgrading of Chinese exports. Goldman Sachs, in its latest report, pointed out that Chinese exports have shifted from being "cost-driven" to "technology and supply chain efficiency-driven," forming a globally irreplaceable production capacity cluster in the field of new quality productivity. UBS holds a similar view, pointing out that the competitiveness of Chinese exports is very strong, and the optimization and upgrading of export product structure continues to advance, with the competitiveness and market share of high-value-added and high-tech industries continuing to improve significantly. It is worth noting that foreign institutions generally mentioned that the stable industrial and supply chains in the Chinese market make it a top choice for multinational companies to establish operations in 2026, a resilience that is difficult to replace.The Peoples Bank of China (PBOC) conducted 150.5 billion yuan of 7-day reverse repurchase operations today: the bidding amount was 150.5 billion yuan, the winning bid amount was 150.5 billion yuan, and the operation rate was 1.40%, unchanged from the previous rate.January 26th - The Fifth Session of the 14th Guangdong Provincial Peoples Congress opened this morning. The provincial governments work report shows that Guangdongs GDP will grow by 3.9% by 2025, ranking first in the country for the 37th consecutive year. Local general public budget revenue will increase by 3%, and imports and exports of goods will increase by 4.4%, contributing 24.1% of the national increase. Service trade will grow by 12.5%. Actual use of foreign capital will increase by 11.3%, and the total output value of agriculture, forestry, animal husbandry and fishery will increase by 4.9%. The number of industrial enterprises above designated size will reach 76,000, with added value increasing by 3%.The main platinum futures contract rose by 12.00% intraday, currently trading at 760.85 yuan/gram.The main Shanghai silver futures contract surged 14.00% intraday, currently trading at 27,639.00 yuan/kg.

DOGE Eyes a Return to $0.0850 to Aim for $0.090 as FTX Contagion Declines

Daniel Rogers

Nov 23, 2022 15:37

截屏2022-11-23 下午2.24.11.png 

 

On Tuesday, both Dogecoin (DOGE) and shiba inu coin (SHIB) snapped two-day losing streaks. FTX contagion risk diminished as word of FTX cash holdings and investor interest in FTX assets spread. However, technical indications remain gloomy, with exponential moving averages (EMAs) predicting additional declines.

 

On Tuesday, dogecoin (DOGE) gained 5.23 percent. Reversing Monday's loss of 2.99%, DOGE ended the day at $0.0785. Notably, DOGE closed the day below $0.0800 for the third session in a row.

 

The mid-morning low for DOGE was $0.0729. Avoiding the First Major Support Level (S1) at $0.0715, DOGE climbed to a high of $0.0796 in the early afternoon. At $0.0774, DOGE surpassed the First Major Resistance Level (R1) before retreating. However, a late surge caused DOGE to surpass R1 and close the day at $0.0785.

 

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 as low as 0 pips and a commission rate of $3.50 per 100,000 USD 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.

 

On Tuesday, the price of Shiba inu coin (SHIB) increased by 4.76 percent. SHIB closed the day at $0.000000881, reversing Monday's decline of 4.21%.

 

In line with the larger market, SHIB reached a low of $0.00000817 during midmorning. Finding support at the First Major Support Level (S1) at $0.00000816, SHIB surged to a high of $0.00000883 by early afternoon. At $0.00000873, SHIB surpassed the First Major Resistance Level (R1) and closed the day at $0.00000881.

 

FTX contagion risk diminished on Tuesday, providing assistance to DOGE, SHIB, and the broader market. Updates on FTX's assets revealed a substantial cash position, which would mitigate the impact of the company's bankruptcy on its creditors.

 

Reports that Justin Sun of Tron and Brad Garlinghouse of Ripple are interested in FTX assets generated additional support.

 

Nonetheless, Twitter news remained unfavorable for DOGE. There was no new information on Twitter's resumption of the crypto integration project that would promote DOGE adoption.

 

However, investor sentiment increased significantly this morning. Risk of FTX contagion remains the primary motivator. Until the court reveals who FTX's creditors are, downside risks will persist. On Tuesday, the bankruptcy judge ruling over FTX decided to redact the identities of FTX's creditors.