EUR/USD 1.15994
-0.072%
Gold 4323.52
-0.176%
Oil 75.348
-0.604%
USD/JPY 160.233
-0.133%
GBP/USD 1.34098
-0.121%
GBP/JPY 214.874
-0.252%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On June 17, the International Energy Agency (IEA) stated that the oil supply shock in the Gulf region is expected to cause a significant drop in global oil demand before oil supplies in the Strait of Hormuz gradually normalize, with supply projected to rebound to 8 million barrels per day by 2027. The IEA noted that while the interim agreement to be signed this week by the US and Iran represents the most significant breakthrough in negotiations since the outbreak of the war, a full restoration of supplies through this vital waterway is expected to take several months. The organization now projects that global oil demand will decline by 1.1 million barrels per day this year due to high oil prices and severe supply disruptions, compared to a previous forecast of a 420,000 barrel per day decline. With the normalization of trade, lower oil prices, and an improved economic outlook, demand is expected to rebound to 2 million barrels per day next year. The IEA stated, "While the details of the agreement are still pending clarification and several issues remain unresolved, this is an encouraging step forward. However, a full restoration will not happen overnight, as mines need to be cleared from major shipping lanes and supply chains will need time to return to normal."On June 17th, the Shanghai Stock Exchange announced that companies producing large-scale AI models will be eligible for the fifth set of listing standards for the Science and Technology Innovation Board (STAR Market). Issuers should hold a prominent and leading position in the field of large-scale AI models, occupy an important position in the industry chain, play a leading and exemplary role in the industry, and gain high recognition from relevant market players. The issuers large-scale AI model business or products should have a clear target market with significant current or potential demand, outstanding competitive advantages in R&D progress and key indicators, a large market space, and strong future growth potential. Issuers should formulate clear commercialization plans for their large-scale AI model business or products. Issuers should not have any matters that could have a significant adverse impact on their ability to continue operating, such as insufficient commercialization expectations for their large-scale model business or products.On June 17, the Shanghai Stock Exchange (SSE) announced that, in order to implement the "Opinions of the China Securities Regulatory Commission on Setting Up a Science and Technology Innovation Growth Layer on the Science and Technology Innovation Board to Enhance the Inclusiveness and Adaptability of the System," further standardize the application of the fifth set of listing standards for science and technology enterprises on the Science and Technology Innovation Board, and support high-quality artificial intelligence large-scale model enterprises that have not yet formed a certain revenue scale to issue and list on the Science and Technology Innovation Board, the SSE has formulated the "Shanghai Stock Exchange Issuance and Listing Review Rules Application Guidelines No. 10 - Application of the Fifth Set of Listing Standards for Artificial Intelligence Large-Scale Model Enterprises on the Science and Technology Innovation Board," which is hereby issued and will take effect from the date of issuance.WTI and Brent crude oil prices are showing little fluctuation in the short term, currently trading at $75.75/barrel and $78.63/barrel respectively.IEA Monthly Report: Global oil supply will decrease by 3.9 million barrels per day in 2026 (in line with previous forecasts).

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

Alina Haynes

Nov 03, 2022 19:39

 截屏2022-11-03 下午7.34.53.png

 

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.

 

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 beginning at 0 pips and commissions of $3.50 every 100k 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 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.


Suggestion