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The UKs three-month GDP growth rate for February, seasonally adjusted goods trade balance for February, and industrial and manufacturing output growth rate for February will be released in ten minutes.On April 16th, European Central Bank (ECB) Governing Council member Demarco stated that the Eurozone economy may be heading towards the ECBs "adverse scenario," but policymakers need to remain patient and avoid hastily adjusting interest rates to curb inflation. "If the adverse scenario materializes, then the markets expectation of two rate hikes would be a reasonable expectation," he added. However, Demarco downplayed the urgency of immediate action, pointing out that long-term inflation expectations remain stable, the ECBs credibility in combating inflation is high, and that the monetary policy stance was already sound before the crisis – interest rates were at a neutral level, and inflation was in line with the target.Alibaba (09988.HK) rose more than 5% on the news that Alibaba Cloud has raised the service price of some MU (ModelUnit) model units on its large model service platform, Bailian.On April 16th, Pacific Investment Management Company (PIMCO) reportedly made significant purchases of European government bonds after a sell-off triggered by the Middle East wars caused a sharp decline in bond prices. According to Andrew Bowers, Chief Investment Officer of PIMCOs Global Fixed Income division, the company had previously under-invested in the regions debt but has since increased its holdings. The company has added to its global bond fund investments. Bowers stated, "There are a lot of crowded trading positions in the market, which has likely led to a price readjustment." He specifically highlighted the significant volatility in UK and European short-term bond prices, the volatility of European interest rates, and changes in the euro interest rate swap curve.ECB President Demarco: Patience is needed; dont rush into making decisions.

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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