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The API crude oil inventory data for the week ending January 16 will be released in ten minutes.The API crude oil inventory data for the week ending January 16 will be released in ten minutes.1. Judges Attitude: A majority of Supreme Court justices were cautious about the governments arguments, believing that President Trumps firing of Federal Reserve Governor Cook could undermine the Feds independence and disrupt markets. 2. Court Duty: Conservative Chief Justice Roberts expressed unease about the notion that judges have no power to review presidential dismissal decisions, especially given that officials are protected under "justified" dismissal protections. 3. Procedural Criteria: Before proceeding to the discussion of the grounds for dismissal, Deputy Attorney General Sauls assertion that "Trumps social media posts can be considered formal notification" was challenged. Trumps appointee, conservative Justice Barrett, questioned why it was so difficult to give Cook an opportunity to present himself in person. 4. Definition of Grounds: The justices were cautious in defining clear boundaries for "justifiable grounds" for dismissing a Federal Reserve governor. They noted that Federal Reserve regulations do not, like other laws, specify concrete grounds for dismissal such as "inefficiency," "negligence," and "malfeasance." 5. Economic Concerns: Trumps conservative Supreme Court nominee, Kavanaugh, warned that the governments stance could "crush" the Federal Reserves independence and have long-term consequences, putting Deputy Attorney General Saul on the defensive. The justices are still weighing the limits. Cooks lawyer, Clement, emphasized that the key is to avoid giving the market the impression that the interest rate cuts are driven by political pressure. 6. Political Risks: Kavanaugh also worries that a ruling in favor of the government could set a precedent, allowing future presidents to arbitrarily find reasons to fire former Federal Reserve officials.The Dow Jones Industrial Average rose 588.64 points, or 1.21%, to close at 49,077.23 on Wednesday, January 21; the S&P 500 rose 78.76 points, or 1.16%, to close at 6,875.62; and the Nasdaq Composite rose 270.50 points, or 1.18%, to close at 23,224.82.U.S. natural gas futures prices rose to $5 for the first time since last December.

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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