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August 3 - On August 2, local time, US President Trump, when discussing Iran, stated that an agreement already exists regarding the Strait of Hormuz, and an agreement on denuclearization will also be reached. Trump indicated that the US will hold negotiations with Iran on August 3.August 3 - US President Trump announced on August 2 that the United States will hold talks with Iran on August 3.US President Trump: (When asked about the withdrawal of US troops from Kuwait and Bahrain) No comment.On August 3rd, US President Trump stated on Sunday (Eastern Time): "The strike against Iran was cancelled at the request of Saudi Arabia, the UAE, Qatar, and Iran. If it werent for their request, a massive attack on Iran would have been launched last night. Iran is aware of the scale of that attack. I believe there is an agreement on the Strait of Hormuz, and a denuclearization agreement will be reached. We are in talks with them in the form of negotiations, starting tomorrow afternoon (Tuesday morning Beijing time). We are ready to act." Trump also addressed the Japanese yen: "The United States intervened because of our good relationship with Japan. We have always supported Japan, and the United States has gained economic benefits from the relevant arrangements."Conflict Situation 1. United States – ① Trump: Agreed to cancel strikes against Iran. ② U.S. Central Command: A U.S. Marine Corps F-35C stealth fighter took off from the USS Abraham Lincoln aircraft carrier, which is sailing in the Arabian Sea to support the U.S. blockade of Iran. 2. Israel – Israel Defense Forces: Killed two Hamas commanders in Gaza over the weekend. ② Israel claims Netanyahu learned of the U.S. call for a halt to strikes against Iran through Trumps social media. ③ The Israel Defense Forces remain on high alert today, believing Iran may create unforeseen circumstances. 3. Iran – ① Iranian military: Trump called Irans demand to stop the attacks a "lie." ② A spokesperson for the Iranian Revolutionary Guard said the strike on the Amazon data center in Bahrain was a response to U.S. action; the spokesperson did not specify the timing of the strike. U.S.-Iran Negotiations 1. Iran – ① Iranian President: The memorandum of understanding with the United States will be central to our future diplomatic relations. ② Iranian Parliament National Security Committee: Mediators are assisting in the restoration of the memorandum of understanding between Iran and the United States, and all parties have exchanged views on all issues. 2. United States – ① Rubio: The US strikes have made Iran more willing to negotiate; the era of "negotiating without consequences" is over. Strait of Hormuz 1. Iranian media: Reports that Iran has agreed to reopen the Strait of Hormuz are false. 2. Diplomatic sources report that Qatari diplomats are negotiating with Iran to secure the support of the Iranian Revolutionary Guard for arrangements related to the Strait of Hormuz. 3. Iranian Foreign Ministry: Negotiations with Oman on the Strait of Hormuz have entered the final stage. The Strait of Hormuz will not return to its pre-war state, and the issue of reopening is unrelated to the negotiations with Oman. Other developments 1. Saudi Foreign Minister speaks with Qatari Prime Minister. 2. Gulf states are dissatisfied with the US lack of a strategy against Iran. 3. Acting Iranian Defense Minister: Iran will not be "caught off guard" by its enemies, nor will it stand idly by. 4. Iranian Foreign Minister Araqchi speaks with Iraqi Foreign Minister; they discuss the latest developments in the region and ways to strengthen bilateral and regional cooperation. 5. The OPEC+ Joint Ministerial Monitoring Committee (JMMC) met on Sunday and stressed the importance of protecting international sea lanes to ensure the continued flow of energy.

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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