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Nestlé India shares rose 3% on quarterly profit growth.On July 22, David Zahn, head of European fixed income at Franklin Templeton, stated in a report that the firms base case forecast is for the European Central Bank (ECB) to raise interest rates for the final time in September, with inflation expected to remain above the ECBs 2% target for the next few quarters. Afterward, the ECB is expected to hold rates steady to assess the impact of the already implemented tightening policies. However, Zahn said the ECB remains highly data-driven. "If renewed tensions in the Gulf region push up energy prices and keep inflation above target for an extended period, policymakers may be forced to consider further rate hikes." Franklin Templeton anticipates the ECB will begin easing policy in 2027.The Hang Seng Tech Index fell by more than 3%, with PCB, AI applications, and prominent tech stocks among the biggest losers.The commander of the Kyiv drone force said that Ukrainian drones struck 13 Russian ships in the Black Sea and the Sea of Azov in the past 48 hours.Futures Commentary by Everbright Futures: Overnight, gold, copper, and oil prices rose in tandem, with London spot gold surging above $4,100/ounce in early trading, indicating a recovery in market sentiment. However, the global market is still digesting the uncertainty surrounding US trade policy and geopolitical conflicts. Recently, the US tariff policy entered a transition period, with the US announcing a 50% tariff increase on some Canadian products. Given the combination of macroeconomic fluctuations and geopolitical disturbances, a cautious approach is advised for gold in the short term. On the macro front, the market is in a quiet period ahead of the Federal Reserves interest rate meeting, focusing on the US-Iran conflict. Yesterday, the US president clearly dampened the prospects for US-Iran talks, stating that Iran wants to talk but the US has "no interest," and that it will "soon" strike the Kosan nuclear facility. Furthermore, US Trade Representative Greer hinted that the US will soon introduce new tariff policies to replace the expiring 10% global import tariff. Since the renewed conflict between the US and Iran, gold prices have not remained pessimistic amid fluctuating inflation and interest rate expectations; instead, the price has begun to rise, potentially indicating a gradual shift in market trading logic for gold in the second half of the year. However, whether this trend can continue remains to be seen. In the short term, a defensive approach is still recommended to cope with the highly volatile environment. Investors should continue to monitor the US-Iran conflict, Federal Reserve policy expectations, and whether rising interest rates will trigger liquidity risks in overseas financial markets.

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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