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On March 27th, Yu Weining, Chief Statistician of the Industrial Statistics Department of the National Bureau of Statistics, stated that the rapid growth in profits of high-tech manufacturing has strengthened its leading role. In January and February, profits of large-scale high-tech manufacturing enterprises increased by 58.7% year-on-year, 45.4 percentage points faster than the previous year; contributing 7.9 percentage points to the overall profit growth of large-scale industrial enterprises, an increase of 5.5 percentage points compared to the previous year. By industry, the intelligent product manufacturing sector is performing well, with profits in intelligent unmanned aerial vehicle manufacturing, intelligent vehicle equipment manufacturing, and other intelligent consumer equipment manufacturing industries increasing by 59.3%, 50.0%, and 31.3%, respectively. The rapid development of the semiconductor industry has driven rapid profit growth in related industries, with profits in semiconductor discrete device manufacturing, optoelectronic device manufacturing, and electronic circuit manufacturing industries increasing by 130.5%, 56.1%, and 19.5%, respectively.On March 27th, the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.5690%, and the lowest was 0.7670%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 1.1120%, and the lowest was 1.0160%. The highest 7-day annualized yield of Alipays "Yuebao" was 1.1900%, and the lowest was 1.0010%.March 27th - According to Tianjin Customs, the Tianjin Lingang Comprehensive Bonded Zone officially commenced operations at 11:00 AM today (March 27th). Following this commencement, enterprises within the zone can legally enjoy preferential tax policies, including tax exemption on imported machinery and equipment and infrastructure materials, bonded entry at the first line, tax refunds at the second line, and selective taxation on domestic sales. As an important open platform serving the coordinated development of the Beijing-Tianjin-Hebei region, the commencement of operations in the Lingang Comprehensive Bonded Zone will further contribute to Tianjins construction of a new high ground for higher-level opening-up.March 27 - The Israel Defense Forces claimed responsibility for a large-scale attack on Iranian regime facilities in Tehran early on March 27 local time. Iran has not yet responded.On Friday, March 27, the Hong Kong Hang Seng Index opened down 87.77 points, or 0.35%, at 24,768.66; the Hang Seng Tech Index opened down 20.76 points, or 0.44%, at 4,740.78; the H-share Index opened down 12.47 points, or 0.15%, at 8,377.46; and the Red Chip Index opened down 13.25 points, or 0.32%, at 4,146.17.

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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