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Sources say Federal Reserve Chairman Warsh has appointed two conservative policy veterans as interim advisors.The API crude oil inventory data for the week ending May 29 will be released in ten minutes.The Dow Jones Industrial Average rose 228.91 points, or 0.45%, to close at 51,307.79 on Tuesday, June 2; the S&P 500 rose 9.94 points, or 0.13%, to close at 7,609.90; and the Nasdaq Composite rose 7.09 points, or 0.03%, to close at 27,093.90.June 3rd - U.S. stocks closed Tuesday with the Dow Jones Industrial Average up 0.45%, the S&P 500 up 0.1%, and the Nasdaq Composite slightly higher. Microsoft (MSFT.O) fell 4%, Google (GOOG.O) fell nearly 4%, and Marvell Technology (MRVL.O) surged 32%. The Nasdaq China Golden Dragon Index closed up 1.8%, and Alibaba (BABA.N) rose over 4%.June 3 - According to data compiled by agencies, Alphabets (GOOG.O) $80 billion equity financing round to raise funds for its artificial intelligence infrastructure is expected to become the largest equity capital market deal in history. The joint offering of shares (including common stock, capital stock, and similar mandatory convertible preferred stock) was priced late Tuesday. Its size will exceed the approximately $70 billion common and preferred stock offering by Petrobras in 2010. The largest single transaction in this deal for Googles parent company—a $40 billion "market offering"—is expected to launch in the third quarter. Such offerings allow the company to sell shares to the market from time to time without prior notice, but must regularly disclose the amount raised in regulatory filings.

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.

 

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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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