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On January 8th, the Bank of Japan (BOJ) stated on Thursday that the economies of various regions in Japan are gradually recovering, and many companies believe it is necessary to continue raising wages, demonstrating the central banks optimistic assessment of the economic outlook. This assessment may provide a basis for further interest rate hikes. At a meeting with heads of its regional branches, the BOJ maintained its economic assessment of the nine regions nationwide compared to three months ago, stating that the economies in each region are improving or gradually recovering. The BOJ also stated that, influenced by high corporate profits and a tightening labor market, many companies believe it is necessary to continue raising wages in fiscal year 2026 at a pace roughly the same as in 2025. However, some regions pointed out that small and medium-sized enterprises (SMEs) are concerned that they may find it difficult to raise wages as significantly in fiscal year 2026 as they did in 2025. The survey also showed that companies in many regions are still passing on the pressure of rising raw material, labor, and logistics costs through price increases, with some companies indicating they are considering incorporating the higher costs resulting from the recent depreciation of the yen into their prices.Gold prices fell on Thursday, pressured by a stronger dollar, as investors prepared for this weeks non-farm payroll report and the market assessed the impact of US pressure on Venezuela. "Traders are weighing escalating geopolitical tensions, including US intervention in Venezuela and the potential for Greenland to become a new flashpoint, while also watching macroeconomic signals from the US," said Bernard Sin, an analyst at MKS PAMP. Sin added that weaker jobs data increased market expectations for further interest rate cuts by the Federal Reserve, but investors remained relatively balanced, wary of market volatility and potential profit-taking at higher levels. Data released Wednesday showed that US job openings fell to a 14-month low in November, with hiring activity remaining weak, indicating waning labor demand.A UN report projects that global trade growth will slow from 3.8% in 2025 to 2.2% in 2026.A UN report projects EU economic growth of 1.3% in 2026, a slowdown from 1.5% in 2025.A UN report states that the US economy is projected to grow by 2.0% in 2026, compared to 1.9% in 2025, supported by loose monetary and fiscal policies.

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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