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September 18th - Data from multiple travel platforms shows that the inbound tourism market continued its growth trend during this years Mid-Autumn Festival and National Day holidays, exhibiting new characteristics of diversified tourist source structure and deeper destination penetration. Ctrip data shows that inbound tourist arrivals will maintain double-digit growth during the combined Mid-Autumn Festival and National Day holiday. The expansion of the tourist source map is a prominent feature of this years inbound tourism during the holidays. Russia jumped to become the number one source country with a growth rate of 173%, followed by markets such as the UK, Malaysia, and Canada with growth rates exceeding 50%. The source structure of inbound tourism is rapidly expanding from traditional East Asian neighbors to Europe and Oceania. The continued buzz surrounding "ChinaTravel" on global social media has provided a foundation for this change. Industry analysts believe that the growth momentum of the inbound tourism market is shifting from policy dividends to a dual-engine approach of "policy + content." For local areas, the ability to transform local cultural resources into experiential and shareable cultural tourism products will affect their competitiveness in the inbound tourism market.Engineers India: is in talks with Saudi Arabia and the UAE regarding the construction of oil facilities.On September 18, Li Qiang chaired an executive meeting of the State Council. The meeting emphasized the need to comprehensively strengthen the protection and management of traditional Chinese medicine (TCM) knowledge to safeguard the foundation for its survival and development. It stressed the importance of coordinating the protection and utilization of TCM resources, continuously deepening research and interpretation of TCMs basic theories, diagnostic and treatment principles, and mechanisms of action, increasing the promotion and application of traditional TCM knowledge, and strengthening international exchange and cooperation to enhance my countrys international influence in traditional medicine through mutual learning. The meeting discussed and approved in principle the draft amendments to 15 laws, including the "Emergency Response Law of the Peoples Republic of China," and decided to submit the drafts to the Standing Committee of the National Peoples Congress for deliberation.On September 18, Premier Li Qiang chaired an executive meeting of the State Council. The meeting emphasized the need to strengthen the medical rehabilitation and nursing service system, focusing on grassroots levels, and to extend rehabilitation and nursing resources to communities and families to enhance the accessibility of rehabilitation and nursing services for urban and rural residents. The meeting stressed the importance of relying on technological innovation to improve the level of medical rehabilitation and nursing, developing more intelligent rehabilitation technologies and equipment, and enriching service scenarios. It also emphasized strengthening support and guarantees for medical rehabilitation and nursing, dynamically adjusting the catalog of rehabilitation medical and long-term care services, deepening price reforms for medical rehabilitation and nursing services, improving talent training policies, and continuously enhancing the attractiveness of the profession.The Russian Ministry of Agriculture stated that the supply of fuel and lubricants to agricultural producers has not been interrupted, and the situation is being continuously monitored.

Early Support for ETH and BTC, with US Economic Indicators in Focus

Alina Haynes

Nov 03, 2022 19:39

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Wednesday saw Bitcoin (BTC) and Ethereum (ETH) join the larger market in the red. The NASDAQ Composite Index, Bitcoin, and Ethereum all fell in response to Fed Chair Powell's news conference. Nevertheless, the technical indications continue to be optimistic, indicating upward price trends. On Wednesday, Ethereum (ETH) fell 3.80%. Reversing Tuesday's gain of 0.32%, ETH closed the day at $1,518.

 

After a turbulent morning session, ETH recovered to a high of $1,622 by late afternoon. ETH surpassed the First Major Resistance Level (R1) at $1,606 prior to falling to a late low of $1,506. ETH ended the day below $1,520 after breaking through the First Major Support Level (S1) at $1,556 and the Second Major Support Level (S2) at $1,535.

 

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On Wednesday, the price of bitcoin (BTC) plummeted by 1.63 percent. BTC ended Tuesday at $20,165, a decrease of 0.04% from its opening price.

 

BTC rose to a high of $20,817 in response to the FOMC Statement, following a range-bound morning. BTC surpassed the First Major Resistance Level (R1) at $20,686 before falling to an intraday low of $20,086. BTC went below the First and Second Major Support Levels (S1 and S2) at $20,327 and $20,154, respectively.

 

In accordance with forecasts, the Fed raised rates by 75 basis points on Wednesday. The FOMC Statement hinted at a likely policy move in December, lending credence to December Fed pivot wagers. The Rate Statement pushed BTC and ETH to their daily peaks.

 

However, Fed Chair Powell dashed prospects for a reversal, citing excessive inflation and the need to continue forward. Powell remarked that the "final level of interest rates will be higher than anticipated."

 

As a result, the NASDAQ Composite Index fell 3.36 percent, sending BTC and ETH into the negative.

 

Today, attention will be on US factory orders, jobless claims, and the ISM Non-Manufacturing PMI. We anticipate the PMI and its subcomponents to have the most effect.

 

Due to the sensitivity of BTC and ETH to US economic statistics and the FED, the correlation with the NASDAQ Composite Index remains intact. The NASDAQ 100 Mini was up 35 points this morning.


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