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HSBC raises its target price for Micron Technology (MU.O) from $750 to $1,100.On May 19th, Macquarie Capital stated in a research report that the semiconductor industry is expected to continue to benefit from robust AI demand this year. Macquarie Capital analysts predict that the semiconductor upswing cycle will be "exceptionally long," with upside risks to earnings at least until the end of 2027. They added that the main bottleneck in 2026 is likely to remain memory, which could put pressure on the profit margins of systems companies.The United Business Group of Thailand maintains its GDP growth forecast for Thailand in 2026 at between 1.2% and 1.6%.On May 19th, Naomi Fink, Chief Global Strategist at Amova Asset Management, stated in a report that Japans stronger-than-expected first-quarter GDP data reflects an improvement in the breadth and quality of economic growth, particularly a rebound in domestic demand. She noted that the broad-based growth in domestic demand indicates that inflation is spreading. Fink stated that Japans export growth remained strong in the first quarter, supported by a global technology spending boom, although it may face pressure in the coming quarters as the effects of the Middle East energy shock spread to the global economy and worsen terms of trade. She suggested that the market will focus on whether government investment is focused on long-term capacity building rather than crowding out private investment, and will examine the credibility of public spending plans in differentiating between public and private investment priorities.On May 19th, ANZ Senior Interest Rate Strategist Jack Chambers stated that the Reserve Bank of Australia (RBA) is overly confident in households continued spending power and may postpone further interest rate hikes for an extended period. He is more pessimistic about economic activity than the RBAs policy committee. He noted that the committee ignored recent declines in consumer and business confidence when raising the benchmark interest rate to 4.35% this month. Chambers wrote in a report that high inflation could have a significant enough impact on disposable income to cause economic activity to fall short of the RBAs expectations. He added, "This would alter the trade-off between economic activity and inflation."

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.

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